A new report don show say 74 per cent of Nigeria companies dey keep ties with United States, mostly for corporate incorporation and to raise money.
Di report wey TLP Advisory just release, dem call am 'Home & Away: Tracking African Tech's Global Footprints,' dem present am to public for Lagos on Saturday.
E show say even though Nigeria tech startups bin pull in $572m in 2025 – wey be roughly 14 per cent of di whole continent venture funding – currency depreciation, limited exit options inside di country, and investor mandates dey force many founders to look outside for survival and to grow.
"Even though US na di most common place wey Nigeria companies dey keep foreign affiliation, with 74 per cent maintaining ties there, their UK ties more often involve operations and licensing," di report talk.
Di report check 100 technology companies across six African markets: Nigeria, Kenya, South Africa, Egypt, Ghana and Morocco. E explore why dem choose affiliation with UK, US and UAE and wetin these relationships fit enable dem do.
E find out say US dey mostly linked to incorporation wey concern financing, while UAE dey serve as base for ground operations and to reach di wider Middle East. UK stand out because e combine these things with broader business presence, including regulatory licensing and commercial activity.
E add say unlike US, where 81 per cent of affiliations na strictly for holding structures, UK and UAE connections dey heavily involve operational expansion, licensing, and regulatory engagement.
Among companies wey get UK affiliation, 84 per cent incorporate there, 47 per cent get operational presence, and 19 per cent hold regulatory licences. Compared to that, regulatory licences dey only three per cent of US-affiliated companies and four per cent of UAE-affiliated companies.
Di motivation na purely economic. After Central Bank of Nigeria exchange-rate reforms and unification of windows wey start June 2023, naira move from roughly N461 to di dollar to about N1,540 by early 2025, before e close di year around N1,450.
With 76.5 per cent of funded Nigeria startups dey raise capital in US dollars while dem dey generate revenue in naira, currency volatility don increase di burden of dollar-denominated obligations.
