‘State spent N2.9b to support over 8,690 vulnerable residents, pregnant women in one year’

Global Tech Ecosystem Index 2025 report, prepared by Dealroom.com, The Netherlands-based research firm, has found Lagos to be the fastest-growing technology ecosystem in the world for 2025.

Parts of the report is that Lagos is home to five unicorns, which are Interswitch, Flutterwave, Jumia, OPay, and Moniepoint, noting that this stands out as an appealing hub for new enterprises.

Ranked under the ‘Rising Stars’ category of tech cities, Dealroom.co said Lagos and other cities in the category are giving rise to a new generation of tech companies.

The report noted: “This year, Lagos (#1) is topping the list, having created five unicorns and grown its ecosystem valuation 11.6x since 2017 despite a smaller economy.”

According to the report, Turkey’s Istanbul ranked second after Lagos, followed by India’s Pune, which came third. The index also has on the list cities like Belo Horizonte in Brazil, Mumbai in India, Curitiba, also in Brazil, and Saudi Arabia’s Riyadh.

Dealroom.co noted that the rising star lens showcases the fastest-growing, emerging tech ecosystems by emphasising growth in enterprise value and unicorns, adjusted for local GDP per capita and cost of living.

The list highlighted a wide range of ecosystems from emerging markets, such as Africa, India, Türkiye, and Brazil. While Lagos remained a shining light, among others, the report, however, found Nigeria missing in the Global Champions category, which comprises the worldʼs biggest and most established startup ecosystems.

Countries in this category were ranked by absolute metrics, such as venture capital, enterprise value creation, unicorns, and university linkages. Top on the list of Global Champions is the Bay Area, followed by New York City, and Boston, all cities in the United States (U.S.).

IN another development, Lagos State government, yesterday, said that N2.9 billion had been spent to support over 8,690 vulnerable residents with medical, rent, education, and businesses in the last one year under the Eko Cares, formerly Sanwo-Olu Cares.

It also said that N1.6 billion had been earmarked for ongoing interventions for new beneficiaries. Special Adviser to the Governor on Political, Legislative and Civil Engagement, Dr Afolabi Tajudeen, revealed this during the ongoing media briefing to mark the second year of the second term of Governor Babajide Sanwo-Olu’s administration.

According to him, 6,000 beneficiaries were empowered through direct cash for small-scale business startups and FMCG partnerships.He added that under the Mother, Infant and Child Development (MICHD) programme meant to provide nutrition support for indigent, vulnerable pregnant women, 6,280 beneficiaries were reached across the six health districts in the state.

Tajudeen also stated that under the Ideal Child project launched in 2021 to address poor performance, abuse, and antisocial behaviours in public school pupils, 6,000 sanitary towels were distributed through a partnership with Kimberly-Clark.

He also stated that under the palliative food distribution launched in 2023 to alleviate the effect of fuel subsidy removal, 2,000 food packages containing rice, beans and garri were distributed to vulnerable, elderly, and disabled residents.

Similarly, in line with the state government’s commitment to inclusive growth and sustainable development, the Office of Rural Development has recorded significant milestones in rural transformation and agricultural empowerment.

This was disclosed by the Commissioner for Local Government, Chieftaincy Affairs and Rural Development, Bolaji Kayode Robert, during the ministry’s briefing.

The commissioner said that several impactful initiatives empowering rural agriculture in the state were reeled out over the past year through its community agriculture department’s demonstration centres across the state’s five divisions, including the Isheri Integrated Farm Centre and Ketu-Epe Farm Centre, which serve as hubs for training and equipping grassroots farmers with modern and sustainable farming techniques.