The Nigerian startup ecosystem has been ranked 61st globally. And second in Africa on the Global Startup Ecosystem Index by StartupBlink.
Nigeria displaced Kenya to spot 62 and third in Africa. According to the ranking, South Africa is the highest-ranked African country at 49th. This makes them the only African country in the global top 50. Lagos is the highest-ranked African city, and only in the global top 100 on the list.
The Global Startup Ecosystem Index has been updated annually since 2017. This is a comprehensive startup ecosystem ranking of 1000 cities and 100 countries.
The report said, “Nigeria had a fantastic year, climbing two spots to rank 61st globally. It is the highest-ranking country in Western Africa. And the second-highest-ranking country in Africa, displacing Kenya which dropped to third in Africa.
“Nigeria ranks fourth in the Middle East and Africa region. Nigeria’s climb is the result of Lagos’ success. Lagos has seen a massive jump of 41 places to 81st globally. Lagos is ranked 24th globally in the Foodtech industry and 43rd in eCommerce and retail. It added that Lagos is the only African city to reach the global top 30 for any of the 11 industries.
