U.S.-Nigeria Collaboration Can Close Startup Funding, Infrastructure Gaps

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U.S. Consul General Brandon Hudspeth says collaboration between Nigerian innovators and American investors can close funding gaps, expand infrastructure, develop skills and support startups’ global growth.

Hudspeth made this known on Wednesday at the GITEX Nigeria Startup Festival in Lagos.

He highlighted the expanding role of American capital in Nigeria’s technology ecosystem.

“Nigeria’s technology ecosystem is attracting significant international investment, but startups still face funding gaps, infrastructure challenges and limited access to global markets,” he said.

According to Hudspeth, U.S.-based investors remain the largest source of external capital for Nigeria’s technology ecosystem over the past decade.

He explained that the investment had supported startups, digital infrastructure, technology skills and access to international markets.

“U.S.-sourced funding accounts for an estimated 60 per cent of all venture capital entering Nigeria,” he noted.

Hudspeth linked the scale of U.S. investment to Lagos’ rapid emergence as one of Africa’s most prominent technology ecosystems.

He added that Lagos technology ecosystem valuation had increased nearly 12-fold since 2017, while the city had produced six of Africa’s 10 unicorns.

According to him, Lagos ranked first on Dealroom’s 2025 Global Tech Ecosystem Index ‘Rising Stars’ list, ahead of Istanbul, Mumbai and São Paulo.

He noted that the ranking demonstrated the depth of Lagos technology ecosystem and its growing appeal to international investors and technology companies.

Hudspeth disclosed that Lagos currently had more than 3,300 startups, while Nigeria’s technology industry contributed more than 16 per cent to the country’s gross domestic product.

He pointed out that U.S. involvement in Nigeria’s technology…