Nigerian startup funding plunges 97% in September 2026
Nigerian startups raised $11.3 million in September 2026, a 97% drop from the $364.1 million recorded in August, according to Brandspur Nigeria. The figure marks one of the lowest monthly totals in recent years and coincides with a period of reduced funding activity in the region.
The decline stands in contrast to trends elsewhere. European startups raised €15.8 billion in September, nearly five times August’s total, as we reported on 9 October. Middle East and North Africa startups also saw a rebound, securing $1.1 billion last month. Indian startups, meanwhile, raised $321.9 million in mid-September, reversing a slower period.
Brandspur Nigeria’s report did not provide details on the number of deals or sectors involved in the Nigerian total. The drop may reflect shifting investor priorities, though the extent of the pullback remains unclear. Other reports have noted fluctuations in funding across emerging markets, with some regions recovering more quickly than others.
The September total raises questions about the trajectory of Nigeria’s startup ecosystem, particularly as global venture capital remains cautious. Observers will watch whether October brings a rebound or continued volatility.
Sources: brandspurng.com · tech.eu
“The drop follows a broader slowdown in venture activity across emerging markets.”
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