Nigerian start-ups have raised more money this year than those of any other African country, for the first time since 2022. Data from Africa: The Big Deal published on 20 October show Nigerian firms raised $635 million from January to September, 2.6 times as much as a year earlier, against $445 million in Egypt, while Kenya and South Africa fell by 73% and 58% to $201 million and $182 million. Four companies, led by vehicle-financing firm Moove with $250 million, took about 69% of Nigeria’s total. The lead rests on a few large rounds rather than a broad revival: the number of Nigerian firms raising at least $100,000 rose only from 70 to 77.