Lagos State has been ranked 70th in the global 2024 startup index, Daily Trust reports.
The ranking places Lagos among the top 100 cities in the world with vibrant startup ecosystems.
The global startup research centre, StartupBlink’s report covers over 100 countries, with Lagos being one of the only two African cities in the global top 100.
Ranked the second African city is Cairo, the capital of Egypt, coming 97th on the ladder.
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Our correspondent reports that the 364-page report ranked Nigeria fourth in Africa.
According to the report, more Nigerian cities are coming up in terms of startup activities and that helped the country to retain its 64th position in ranking, seeing a decline in startup funding in 2023.
The report showed that Nigeria had six cities in the global top 1,000, with Kano joining the index this year. The cities include Lagos, Abuja, Ibadan, Enugu, Port-Harcourt and Kano.
“Lagos is the strongest startup ecosystem in Nigeria, with a total score of more than 15 times greater than Abuja, the second ranked city, showing strong centralisation. Lagos excels in the consumer goods industry, ranking first in Africa for this industry,” the report indicated.
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