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Over the past six years, the Nigerian tech industry has witnessed tremendous growth, with over $5 billion in funding for startups in various fields and ecosystems. This makes it one of the best investment hubs in Africa.
Nigerians have continued to innovate from FinTechs, Edtechs, prop techs, logistics, and Saas, among many other innovative platforms and companies, attracting mainly foreign funding for the problem they are solving.
Behind these companies are great minds helping steer the companies to greatness. Many founders and CEOs have been at Nigeria’s forefront of tech innovation.
However, for the sake of this article, we shall narrow our search to the 10 most popular tech entrepreneurs in Nigeria.
From funding to valuation and customer reviews. We picked these entrepreneurs based on their industry impact.
Our list is based on reviews, funding, impact, and innovation.
Movie streaming platforms had not become popular in Nigeria at the time, so Jason made a big bet and launched Iroko TV, which became the number-one platform for Nigerian movies and content.
In 2010, Jason, a University of Manchester chemistry graduate, partnered with Bastian Gotter to start the company after spotting a significant vacuum in the internet distribution of local content.
Iroko became the largest local content distributor, purchasing over 500,000 film licenses.
It is the biggest distributor of Nollywood content worldwide, with over 800,000 registered users and over 14 million hours of audiovisual content under license.
Tiger Global, a hedge fund, funded the company with an investment fund of $8 million.
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Nigeria’s online payment infrastructure story will not be complete without mentioning Flutterwave.
When two friends, Iyioluwa Abodeji and Agboola Olugbenga, made a big bet on starting a payment system for online transactions in Nigeria, many were sitting and waiting to see how it would pan out.
This was due to the existence of big brick-and-mortar banks that have dominated the finance and banking industries for years.
However, with resilience and a strong resolve to make a difference these two friends launched what later became one of the fastest companies to reach a Unicorn level in Nigeria.
Before launching Flutterwave in 2016, Agboola created fintech solutions at well-known digital firms and financial institutions like PayPal and Standard Bank.
Under his direction, Flutterwave has become one of Africa’s most well-known tech companies, setting the standard for fintech innovation in the region.
Sim Shagaya has a robust background in tech innovations. He was among the pioneers of e-commerce adoption in Nigeria when he launched Konga an online marketplace.
The platform was later sold to Zinox Technologies. Before Konga, he launched Dealdey, an online website that offers the best discounts on products and services in Nigeria.
After selling Konga, Sim established an edtech startup, Ulesson, which attracted $15 million in investments.
Ulesson has an extensive library of instructional materials adapted to the Nigerian curriculum, uLesson enhances the effectiveness and engagement of learning.
He is also the founder of the online university Mivida, an NUC-licensed institution that helps Africans gain university education remotely.
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Interswitch dominated Nigeria’s payment processing industry before the arrival of many startups. Its founder, Mitchell Elegebe, remains a top tech entrepreneur, especially for pioneering the adoption of online money transfer and payment processing in Nigeria.
Under Mitchell’s direction, Interswitch has grown to be a major player in Nigeria’s financial services sector over the past 16 years, managing payment switching and transaction processing for banks, telecom providers, and numerous other major organizations in the country.
Additionally, it has changed Nigerians’ daily lives by making it possible to pay bills, send money, and buy airtime online when no one else was.
Before launching Interswitch, Mitchelle was a software developer with many banks in Nigeria, where he helped set up financial products that improved customer experience and user acquisition.
When many thought they had seen it all, two young graduates came with a disruption that changed the online payment ecosystem in Africa – Paystack.
Shola Akinlade and Ezra Olubi took on already-existing giants and still managed to make a name for their company.
After being accepted to Y Combinator, a tech incubator platform, they have since gone on to become not just top tech entrepreneurs but global business leaders.
In 2020 Shola and his co-founder made headlines when Stripe acquired the company for over $200 Million. This solidified Shola’s position as a popular tech entrepreneur and astute innovator in Nigeria.
Shola also has investments in sports, owing Sporting Lagos a Nigerian-based football club that competes in the NPL, and a 55% stake in Danish football club Arhus Fremad FC.
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We cannot finish the list of the top 10 popular tech entrepreneurs without including Odunayo Eweniyi.
After relative success in building PushCV, a platform that simplifies the hiring process for companies, Odunayo Eweniyi boldly ventured into the male-dominated FinTech world.
Odunayo’s desire to make saving rewarding and easier for people birthed Piggybank which later restructured into Piggyvest offering other products and services.
With a solid background in business analysis, it did not take long for their business to gain traction, earning them investment from different venture platforms and the trust of users due to the high level of security the platform is built with.
Eweniyi is a Forbes Under 30 fellow and among the few female entrepreneurs making a statement in FinTech.
In addition to co-founding Piggyvest, she is also a principal founder at First Check Africa, an investment platform investing in early-stage startups owned by women.
Confidence groundbreaking innovations in the cybersecurity space earned her place on the Forbes Cybersecurity Council.
She is the founder of Cybersafe Foundation an organisation dedicated to improving internet access and cybersecurity awareness, particularly among women in Africa.
She has authored several books, including “API Security for White Hat Hackers: Uncover Offensive Defense Strategies and Master Secure API Implementation.”
Staveley has a gift for breaking down hard cybersecurity ideas so that a wider audience may understand them.
She has received multiple accolades for her work, including the 2023 Cybersecurity Woman of the Year award making her a leading tech entrepreneur in Nigeria
Oviosu founded Paga, a well-known mobile payment platform in Nigeria with more than 20 million users.
By providing easy-to-use payment options for both individuals and businesses, Paga has played a significant role in promoting financial inclusion.
Oviosu’s contributions to fintech have greatly impacted Nigeria’s economy, enabling millions to participate in the digital economy and boosting the expansion of small companies nationwide.
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Maya Horgan Famodu is not all about beauty, her staunch business acumen also comes into play when you see her.
In 2017, Maya a Nigerian-American entrepreneur boldly waded into the murky waters of venture capital funding and founded Ingressive Capital which invests in innovative startups that are solving real problems.
Additionally, she established the non-profit organization Ingressive for Good, which provides scholarships, talent placement, and training to African talent.
In 2019, Famodu was designated one of the “10 Inspiring Women Ruling Nigeria’s Tech Ecosystem” and included in Forbes’ “Under 30 Technology.”
At the age of 25, she became the youngest woman in Sub-Saharan Africa to start a tech fund (on a single trip).
She doubled her assets under management (AUM) from $5 million to $10 million in 2020, with the help of investors such as Techstars, Y Combinator’s Michael Seibel, and Nigeria’s sovereign wealth fund.
Maya isn’t just a top tech entrepreneur in Nigeria but a global icon in the business world.
Honey Ogundeyi established Edukoya, an exam preparation platform introduced in May 2021, to assist students in preparing for their examinations.
Ogundeyi has vast experience in banking, telecoms, and business consultancy and a foundation in Internet and brand management.
Her goal of using technology to tackle real-world issues has benefited greatly from her proficiency in online advertising and web commerce.
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Ezra was a co-founder of Paystack, a payment gateway system that revolutionized how things were done in the fintech industry and was sold for 200 million US dollars to Stripe in 2020.
After being accepted to Y Combinator, a tech incubator platform, they have since gone on to become not just top tech entrepreneurs but global business leaders.
He now has stakes in many startups in the Nigerian tech ecosystem and has mentored many techpreneurs, including Femi Aluko, the founder of Chowdeck.
Chowdeck is a growing logistics and on-demand food delivery service company.
Mike Adenuga the founder of telecommunication company, Globacom is currently the richest tech guy in Nigeria owing to the value of his company.
Flutterwave with its $1 Billion valuation is currently the biggest tech company in Nigeria
There are 598 startups in Lagos. This amounts to roughly 72% of all startups in Nigeria. Nigeria’s top-ranked startup ecosystem is Lagos.
Companies like Flutterwave, Paystack, Andela, and Jumia are the top leaders in their respective sectors.
Skills in data science and analysis enable people to impact marketing campaigns and business plans, making them invaluable resources for companies. This has made it the most sought-after tech skill in Nigeria.
Limited access to funding
Infrastructure limitations
Regulatory hurdles
Talent acquisition and retention
Corruption and insecurity
Large and growing market:
Focus on innovation:
Growing investor interest: There is growing interest from both local and international investors in Nigerian tech startups.
Build strong networks:
Focus on solving local problems:
Embrace innovation:
Seek mentorship and guidance:
Advocate for policy changes:
Flutterwave: A leading African payments technology company.
Interswitch: A digital payments and commerce company.
Andela: A global technology talent network.
Jumia: A pan-African e-commerce platform.
Paystack: A global payments infrastructure company.
Co-working spaces: Provide access to office space, networking opportunities, and mentorship.
Incubators and accelerators: Offer mentorship, funding, and resources to help startups grow.
Government programs: Provide grants, loans, and other forms of support to tech entrepreneurs.
Networking events: Connect entrepreneurs with investors, mentors, and other stakeholders in the tech ecosystem.
Online resources: Access to information, tools, and online communities for entrepreneurs.
These young trailblazers serve as motivating role models for aspiring entrepreneurs, reminding us that age is not a barrier to success as the Nigerian tech scene continues to flourish.
Their tales show how Nigerian youth have boundless potential in the digital era. Furthermore, these ten popular tech entrepreneurs in Nigeria’s success stories represent only a small portion of the amazing things that are taking place.
These entrepreneurs inspire us all. They show us that anything is possible if you have a dream and are willing to work hard to achieve it.