Lagos remains the hub, home to 88.4% of the startups
Some 481 technology startups were in operation across Nigeria as of September 2022, employing over 19,000 people between them. Of this, Fintech is the most populated sector, with more than one-third of the country’s tech startups active in that vertical. According to the Nigerian Startup Ecosystem Report 2022 from Disrupt Africa, which disclosed these, almost 50 per cent of Nigerian tech startups have undergone some form of acceleration or incubation, even though diversity remains an issue, as less than 15.6 per cent have a female co-founder. Disrupt Africa said these startups are also supported by a strong investment ecosystem, stressing that at least 383 individual Nigerian tech startups raised a combined $2,068,709,445 in funding between January 2015 and August 2022, more than any other country in that period. Click here to read full article