The air at Lagos’s Landmark Event Centre is thick with a familiar mix of humidity and ambition. On day two of the inaugural GITEX Nigeria, exhibitors are already deep in conversation, showcasing everything from AI-powered logistics to the latest in cybersecurity and fintech. In this controlled chaos, Nigeria is making its pitch to the global tech community: that it is open for business, brimming with talent, and ready to lead.
The event, an offshoot of the Dubai-based tech behemoth, is a significant statement. For years, GITEX has been a major player in the global tech conference circuit, and its expansion into Africa — first Morocco and now Nigeria — signals a growing international interest in the continent’s burgeoning ecosystems. The government is leaning in heavily. Held under the patronage of President Bola Ahmed Tinubu, the event features a who’s who of Nigerian policymakers, all echoing the same message.
‘A Launchpad for Africa’s Tomorrow’
The official narrative is one of unbridled optimism. Lagos State Governor Babajide Sanwo-Olu declared the city “Africa’s innovation nerve centre and a launchpad for Africa’s tomorrow,” citing the $6 billion in foreign tech investment the state has attracted since 2019 and the fact that it hosts over 70% of Nigeria’s total tech inflows.
This vision is backed by the federal government. Bosun Tijani, Nigeria’s Minister of Communications, Innovation and Digital Economy, stressed that technology is central to the President’s agenda. “His vision is very clear,” Tijani told attendees, “that technology must not only grow GDP but also expand opportunities, reduce inequality, and create shared prosperity for all Nigerians.”
Organised by KAOUN International, GITEX Nigeria combines a tech expo, a future economy conference, and a startup festival, creating a sprawling platform for enterprise deals, policy discussions, and, crucially, investor-founder meetings. The event boasts Nigeria’s largest and most globally diverse investor programme, promising curated meetings between startups and potential backers. For the hundreds of founders navigating the booths, this is the main draw.
The Hunt for Capital Meets a Shifting Landscape
While the government and event organisers project confidence, the reality for founders on the ground is more complex. They are here to find capital in an ecosystem facing significant headwinds. Soaring inflation and a volatile naira — which has shed more than half its value against the dollar in two years — are squeezing startups, making runway calculations a constant struggle.
The Nigerian VCs that once fuelled the ecosystem’s early-stage growth are increasingly looking beyond their home market, adopting a pan-African strategy to de-risk their portfolios and follow opportunities in more stable macroeconomic environments.
This trend is also visible in deals happening within Nigeria. While local VCs are still participating, they are less frequently leading the largest rounds. When Arnergy raised $15 million, the round was dominated by international players like Breakthrough Energy, BII, and Norfund. Similarly, Norfund led OmniRetail’s $20 million round, and foreign funds like Highland Europe and Left Lane Capital were the sole backers in LemFi’s recent $53 million raise.
A Tale of Two Realities
For a founder pitching at GITEX Nigeria, this creates a dual reality. The money hasn’t disappeared, but its address has become more varied. Success for the startups at GITEX will depend on their ability to capture the attention of international investors who are still bullish on Nigeria’s long-term potential, even as the country’s own institutional investors increasingly hedge their bets across the continent. GITEX is the platform, but closing a round in today’s climate remains the ultimate test.
Gitex’s Next Stop: Cairo
Cairo set to welcome global AI leaders, enterprises, and experts at the inaugural Ai Everything Middle East & Africa (https://www.AiEverythingMEA.com), from 10–12 February 2026, organised by GITEX GLOBAL. Event hosted by Egypt’s Ministry of Communications and Information Technology (MCIT), in strategic partnership with the Information Technology Industry Development Agency (ITIDA). Ai Everything MEA is positioned as the Middle East and Africa’s most empowering global AI tech week.