Nigeria's startup economic sub-sector stands in the top three most advanced in the African continent according to StartupBlink's Global Startup Ecosystem Index 2021. The startup space in Nigeria has witnessed a steady growth within the decade and as of Q4 of 2022, at least 480 tech startups were in operation across Nigeria, employing over 19,000 people.
In addition, Nigeria witnessed an economic boom in the Nigerian tech space between 2020 and 2021. Out of about $4 billion in startup funding raised in Africa in 2021, Nigeria earned the most significant chunk, accounting for 35% of the funds raised to the tune of $1.37 billion.
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Originally published 2 September 2023
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