Nigeria has taken a historic step in its digital transformation journey with the inauguration of its first homegrown edition of the Gulf Information Technology Exhibition (GITEX) in Abuja. The landmark event brought together global investors, startups, policymakers, and innovators, underscoring the country’s ambition to position itself as Africa’s technology and innovation powerhouse.
Speaking at the event, Lagos State Governor, Babajide Sanwo-Olu, revealed that the state has attracted over $6 billion in direct foreign investment into its technology startup sector between 2019 and 2024. He said the milestone affirms Lagos as Africa’s “innovation capital,” noting that the city now accounts for more than 70% of Nigeria’s tech inflows and serves as a breeding ground for most of Africa’s unicorns.
“Lagos is no longer aspiring to transformation—it is living it,” Sanwo-Olu declared. “We are not just an economic powerhouse, we are Africa’s innovation capital.”
Highlighting Lagos’ digital infrastructure—including hyperscale data centres, submarine cables, and a city-wide fibre grid—the governor pointed to projects like the Blue Line electric rail system, powered by a locally designed digital Cowry Card, as proof of homegrown innovation driving real-world impact.
Sanwo-Olu also emphasised Lagos’ investment in talent development, with a Science and Research Fund that has supported startups with seed grants ranging from ₦50 million to ₦80 million over the past six years.
Earlier, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, unveiled a roadmap to expand the digital economy’s contribution to Nigeria’s GDP from the current 16–18% to 21% by 2027. He said Nigeria is now “a digitally connected and globally competitive nation” backed by infrastructure, talent, and creativity.
Tijani noted that Nigeria’s stock exchange lists technology firms among its top performers, surpassing oil companies, and highlighted Nollywood and Afrobeats as examples of Nigeria’s thriving creative-tech fusion. He further announced plans for a 90,000-kilometer fibre backbone under Project BRIDGE, nationwide digital skills training through the 3MTT initiative, and landmark legislation on e-governance and the digital economy.
The Director General of NITDA, Kashifu Inuwa, stressed that Nigeria is “ready to lead the future economy,” crediting resilience and deliberate policies for making the country home to five of Africa’s unicorns. He traced the journey back to the introduction of Nigeria’s cashless policy over a decade ago, which catalysed fintech growth.
At the event, Ms. Trixie LohMirmand, Executive Vice President of Dubai World Trade Centre and CEO of KAOUN, described Nigeria as “a global beacon of innovation and resilience,” noting that Lagos serves as a unique testbed for technology: “If your product survives Lagos, it can thrive anywhere in the world.”
The inaugural GITEX Nigeria attracted over 650 startups, 200 investors, and participants from more than 40 countries, marking the country’s arrival on the global tech stage.
As the conference unfolds, the message from Nigerian leaders is clear: the country is not only participating in the digital economy—it is shaping it. With Lagos leading the charge, Nigeria is positioning itself as Africa’s premier investment destination for technology, innovation, and creativity.
