Nigeria is positioning itself as a leader in Africa’s Web3 movement, with over 80 startups raising $130 million to date—$20 million in 2024 alone. Financial services led funding this year with $7 million, while entertainment and gaming saw sharp declines. Despite regulatory inconsistencies, recent reforms—including SEC’s ARIP program and lifted banking restrictions—signal progress. However, a fragmented oversight landscape still deters investors. Nigeria contributed 4% of all new global Web3 developers in 2024, outpacing other African nations. To sustain growth, stakeholders aim to expand developer bootcamps and community initiatives, while leveraging Nigeria’s strong crypto adoption to tap into international markets.
Tuesday, September 30, 2025 - 20:38:54
Columbus, United States | 28°C | Few clouds
