Three Years, Zero Listings: Nigerian Tech Board Fails to Attract Single Startup
- More than two-thirds of Nigerian tech startups avoid listing on the Nigerian Exchange due to currency issues.
- The naira has lost over 65% of its value since President Bola Tinubu's administration began in 2023.
- 77% of funded startups raise capital in dollars but earn revenue in naira, incentivizing offshore exits.
Tech Labari - Nov 18, 2025
Why Nigerian Startups Are Avoiding Local IPOs
Nigerian startups are avoiding listings on the Nigerian Exchange (NGX) due to the weak naira, which
The reluctance of Nigerian tech startups to list on the local exchange highlights significant economic challenges, particularly regarding currency stability. While the potential for growth exists, it is essential for the government and financial institutions to address these barriers and create a more favorable environment for local listings.
