Nigeria’s startup ecosystem recorded a steep decline in funding during the first half of 2025, with disclosed investments falling to just $176 million—the lowest level in four years, according to data from Africa: The Big Deal
While Nigeria matched Egypt and South Africa with 42 deals larger than $100,000, most rounds were modest in size. Only a handful exceeded $1 million, and none surpassed $60 million, underscoring a notable lack of large-scale capital inflows .
Key investment highlights included fintech startup LemFi raising $53 million in a Series B round, OmniRetail’s $20 million Series A, and energy firm Arnergy’s $18 million raise—demonstrating resilience in critical sectors despite weak overall funding.
Analysts say the slump reflects broader global investment caution and lingering doubt from international investors. To maintain its leadership in Africa’s tech space, Nigeria will need to attract megadeals that go beyond seed and Series A rounds.
