Angel investors are intensifying efforts to connect Nigerian startups with global capital and markets as declining venture funding raises concerns over the ability of the country’s innovation ecosystem to scale beyond domestic boundaries.
Stakeholders at the World Business Angels Investment Forum (WBAF) Investors Week in Lagos said cross-border investment networks, alternative financing structures, and partnerships among investors, governments, and entrepreneurs are becoming critical to sustaining startup growth and expanding financial inclusion.
The discussions come as startup financing in Nigeria fell 17 percent to $343 million in 2025, according to BusinessDay analysis. The figure represents the lowest level since 2019 and reduced Nigeria’s share of African venture capital funding to 11 percent. Despite the decline, Nigeria retained its position as Africa’s most active startup market by deal volume, with 85 startups raising at least $100,000.
Goodness Alabi, head of programmes and trade missions at the World Trade Center Abuja, said the shrinking size of venture capital deals has increased the importance of angel investors in supporting startups seeking growth capital.
“We are generating more startups than anyone else in Africa, but the checks are shrinking. The average deal size is falling, and this is the very gap that angel investors must fill,” Alabi said.
