Foreign investors are reinforcing their confidence in Lagos as Nigeria’s fastest-growing innovation hub, following a strong showing at GITEX Nigeria, the region’s largest technology and startup showcase.
“Lagos is a mega high-speed technology testbed that is dense, diverse, and demanding, where SMEs, startups, and entrepreneurs succeed not by conventional rules but by distinctiveness and necessity-driven innovation,” Trixie LohMirmand, EVP of Dubai World Trade Centre and CEO of KAOUN International, organisers of GITEX NIGERIA, said in a statement to The PUNCH.
The four-day event, which has already concluded, was held in Abuja and Lagos from September 1 to 4 and attracted global investors and business executives from around the world.
“Rising above power outages, currency fluctuations, and maturing infrastructure, they scale faster and endure longer. Survive and thrive in Lagos, and your products and solutions can compete and flourish anywhere around the world,” the CEO said.
The International Finance Corporation is also committing to Lagos and Africa at large after investing more than $6bn in the continent’s digital infrastructure in the last decade.
“Here in Lagos, the IFC-backed Rack Centre is setting new benchmarks for green data facilities,” IFC’s Regional Director for Central Africa and Anglophone West Africa, Dahlia Khalifa, stated.
He added, “Infrastructure is the foundation, but entrepreneurship is the engine.
“To seize this opportunity, we need reliable broadband, robust data centres, and modern digital infrastructure. IFC is helping to unlock this future by mobilising capital at scale.”
Between 2019 and 2024, Lagos attracted over $6bn in foreign tech investment, accounting for more than 70 per cent of Nigeria’s total inflows, according to official figures. The city also hosts hyperscale data centres and extensive fibre connectivity, reinforcing its reputation as Nigeria’s commercial capital and innovation hub.
Speaking at the Lagos opening, Governor Babajide Sanwo-Olu described the state as “Africa’s innovation nerve centre and a launchpad for Africa’s tomorrow,” pledging to build a data-driven government where real-time insights guide policy and inclusive connectivity empowers citizens.
“Governance in the 21st century must be digital, inclusive, and data-driven,” he said.
The GITEX Nigeria Tech Expo & Future Economy Conference at the Eko Hotel Convention Centre and the Startup Festival at Landmark Centre drew local and international participants to discuss Africa’s digital trajectory. Themes included artificial intelligence, financial inclusion, and the role of public-private partnerships in driving sustainable digital transformation.
Bosun Tijani, Minister of Communications, Innovation and Digital Economy, stressed the importance of placing technology at the heart of national development. “The digital economy is not just about mobile apps or platforms; it is about technical efficiency and delivering productivity gains that transform entire sectors,” he said.
Tijani added that President Tinubu’s Renewed Hope agenda has put the digital economy at the core of Nigeria’s growth strategy, focused on reducing inequality and creating shared prosperity.
NITDA Director-General Kashifu Abdullahi hailed Lagos as a “factory of unicorns”, crediting the city’s resilience-driven innovation despite challenges such as inadequate infrastructure.
“Here, people use talent and come up with solutions without infrastructure. In other places, capital infrastructure fuels innovation. In Lagos, we use resilience because we have no option but to create solutions,” he said.
Supported by partners including AWS, Cisco, IFC, and Kaspersky, GITEX Nigeria highlighted the growing confidence in Nigeria’s startup ecosystem and the increasing role of Lagos in shaping Africa’s digital future.
