As proof of its status as “Africa’s innovation capital”, Lagos state has attracted over $6 billion in foreign direct investment into its technology startup ecosystem between 2019 and 2024.
Lagos Governor, Mr. Babajide Sanwo-Olu, disclosed this at the maiden edition of GITEX Nigeria in Lagos, adding that Lagos is now a living reality of digital transformation in Africa.
He said: “We are not just an economic power house, we are Africa’s innovation capital. With over 70 per cent of Nigeria’s tech inflows coming through Lagos, and more than 70 per cent of Africa’s unicorns having passed through this city, the evidence is clear.
“Lagos is no longer aspirational; it is a living reality of digital transformation.”
He ascribed this to visioning and long-term planning, referencing early digital reforms initiated two decades ago in the days of President Bola Tinubu when he was governor of the state.
Sanwo-Olu added, “When President Bola Ahmed Tinubu, as Governor, led the adoption of Oracle database systems in Lagos, some questioned why. Today, that foundation is still powering our systems. Visionary leadership makes all the difference.”
Highlighting infrastructure, he said Lagos has become a digital-first state with hyperscale data centres, submarine cables, and a city-wide fibre grid.
He cited the Blue Line electric rail, which has served five million passengers in two years, powered by the Cowry Card designed by young Lagosians.
On governance, he stressed inclusivity: “With the Lagos Digital Service Platform, every Lagosian can access healthcare, transportation, and civic services with a single click. This is a government where no citizen is left behind.”
In his remark, Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, projected that ICT’s contribution to GDP will increase from today’s 16–18 per cent to 21 per cent by 2027.
“Nigeria is not just a market; we are a creative powerhouse. Lagos, in particular, is where the energy of Africa collides with the ambition of the future,” the minister said.
He said that Nollywood and Afrobeats are fueling a creative economy expected to generate over $15 billion, while the government is rolling out a 90,000-km fibre backbone, the 3MTT skills programme, and landmark digital economy legislation.
