Some 481 technology startups were in operation across Nigeria as of September 2022, employing over 19,000 people between them.
Of this, Fintech is the most populated sector, with more than one-third of the country’s tech startups active in that vertical.
According to the Nigerian Startup Ecosystem Report 2022 from Disrupt Africa, which disclosed, almost 50 percent of Nigerian tech startups have undergone some form of acceleration or incubation, even though diversity remains an issue, as less than 15.6 percent have a female co-founder.
The report said Nigerian startups are, however, only the third most successful when it comes to successful exits, with 15 ventures acquired since 2015, fewer than South Africa and Egypt. According to the report, the Nigerian startups have so far raised a total of $747.9 million this year.
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