Yaba, Lagos was previously known as Nigeria’s primary spot for emerging tech startups.
Often compared to Nigeria’s Silicon Valley, Yaba emerged as an innovation center in the early 2010s, hosting major players like Andela, CcHub, and various startups that gained global recognition.
The area provided affordable rental rates and close proximity to educational institutions like the University of Lagos (UNILAG), ensuring a steady supply of young, skilled professionals.
For a significant period, Yaba represented the dynamism and promise of Nigerian tech, laying a groundwork for early-stage companies to prosper.
However, as companies expanded, the aging infrastructure, traffic congestion, and limited space in Yaba posed challenges, prompting tech firms to explore other locations in Lagos.
Ikoyi, an upscale area in Lagos, has emerged as the next tech hub in Nigeria. With office spaces priced at around $600–$800 per square meter, Ikoyi not only offers security and high-rise buildings for tech startups but also a strategic location at the core of Lagos’ tech environment.
Ikoyi features some of Lagos’ most contemporary and well-maintained office structures, such as King’s Tower and Heritage Place, meeting global standards for security, environmental adherence, and functionality.
Leading global companies and Nigerian tech giants like Flutterwave, Meta, and Google are establishing their Nigerian offices in the upscale Ikoyi area, despite the high real estate costs.
As Nigeria’s tech ecosystem, now acknowledged as one of Africa’s Big 4, continues to flourish, the shift to Ikoyi could signify the status and progress these tech firms are achieving.
Silicon Valley represents a mindset, not just a location—a suitable analogy for this transition.