Africa cities

Nigeria ranks 61st globally and 2nd in Africa on Startup Ecosystem Index

Federal Republic of Nigeria

The Nigerian startup ecosystem was ranked 61st globally and second in Africa on the Global Startup Ecosystem Index by StartupBlink.

Nigeria replaced Kenya to rank 62nd and third in Africa. According to the ranking, South Africa is the highest ranked African country at 49th and the only African country in the global top 50. Lagos is the highest ranked African city, and only in the world top 100 on the list.

The Global Startup Ecosystem Index has been updated annually since 2017 and is a comprehensive ranking of the startup ecosystem of 1000 cities and 100 countries.

StartupBlink CEO Eli David has described 2022 as the year of uncertainty for the global startup ecosystem, which isn’t necessarily bad as it presents new opportunities and potential exponential growth across industries and industries. technologies.

The report states: “Nigeria has had a fantastic year, climbing two places to rank 61st in the world. It is the highest ranked country in West Africa and the second highest ranked country in Africa, supplanting Kenya which has fallen to third place in Africa.

“Nigeria ranks fourth in the Middle East and Africa region. Nigeria’s rise is the result of Lagos’ success. Lagos saw a massive jump of 41 places to 81st in the world. It is the first African city to enter the global top 100, a milestone worth celebrating (it should be mentioned that Lagos was already ranked 99th in 2019 but lost this position in 2020).

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The report states that Lagos is ranked 24th globally in the food tech industry and 43rd in e-commerce and retail. He added that Lagos is the only African city to reach the global top 30 for any of the 11 industries.

According to her, Abuja fell seven places to 473rd place but captured second place Nigeria from Ibadan, which fell 308 places to 661st.

The report revealed that the total number of Nigerian cities in the world’s top 1000 jumped from seventh to third, suggesting that Nigerian talent may be moving to Lagos at the expense of other cities. South Africa now has the highest number of cities ranked in the top 1000.

He said, “Our recommendation to policymakers in Nigeria is to strengthen other ecosystems, given the size of the country, and push one more ecosystem to the top 200.”