The rise of Web3 — the decentralized iteration of the internet — is reshaping how we think about ownership, value exchange, and trust in digital systems. While much of the global conversation focuses on cities like San Francisco, Berlin, or Lagos, there’s a compelling opportunity to seed and grow robust Web3 ecosystems in emerging tech hubs such as Ibadan, Nigeria.
A few weeks ago, I was at the Builders and Founders Hangout organized by Stellar, and the focus of discussion was how to strengthen the Web3 ecosystem in Ibadan. Of course, it was great to listen to the various founders, innovators and enthusiasts who shared the work they are doing in the Web3 space in the city, and the challenges that they have faced. The various ideas got me thinking, and therefore as someone who has skirted the boundaries of Web3 and is knowledgeable enough about the basics, and also as someone who has lived in Ibadan for a while and knows a thing or two about the rise of the tech ecosystem in the city, I have decided to share a few general thoughts on the issue.
Ibadan, better known primarily for its academic institutions and cultural heritage, is quietly evolving into a promising tech ecosystem. With its growing population of young, tech-savvy individuals, proximity to Lagos, and comparatively lower cost of living, Ibadan presents a fertile ground for innovation — particularly in Web3. But what does it take to build a strong Web3 ecosystem in a city like Ibadan? More importantly how does Web3 ecosystem gain traction in a tech ecosystem that is still largely focused on Web2?
While the Ibadan tech ecosystem has grown in leaps and bounds in terms of development in the last decade, Ibadan is still largely a “boots on the ground” type of tech ecosystem. As the success of events like Ibadan Tech Expo, and Ibadan StartupFest for example have proved, tech enthusiasts still focus on face-to-face events where they get to physically network with their peers. word of mouth is still a big deal in these parts. This is not to say that virtual connections are not being established, indeed there have been several virtual communities (some even web3 that have become strong within the city in recent years) but it will take a while yet before it becomes viable enough to be a way of mobilizing across the city.
This in itself creates another challenge. Ibadan is a big city, the third largest in Africa in fact, and this creates a challenge in mobilizing people for community activities the traditional way. As an Ibadan based founder once quipped on twitter, “This city is so big that it could be three different cities in one.” Needless to say that the stress of moving around the city (not to mention the cost of transportation) dissuades young people (who are the primary demographics involved in Web3), from participating in the local events and workshops that can demystify Web3 for them and can and offer a pathway for deeper engagement with Web3. The result is inevitably Web3 communities working in silos, but without the collective momentum to build a sustainable ecosystem.
1. Invest in Local Education and Web3 Infrastructure
A solid Web3 ecosystem starts with people who understand its fundamentals. Blockchain, decentralized finance (DeFi), NFTs, and DAOs are still abstract concepts to many. Partnering with local tertiary institutions like the University of Ibadan is to integrate blockchain education into mainstream curricula is still a way off, but short-term bootcamps, certification courses, and hackathons can accelerate knowledge transfer and build a Web3 Ecosystem. Web3 startups who want to establish a foothold in Ibadan must be prepared to build and support developer guilds, shared workspaces for Web3 startups, cross-discipline collaboration (With Web2 communities if necessary).
As the saying goes: “The early bird catches the worm.” The good thing is that Ibadan, with it’s high population of fresh, open-minded beginner techies who want to learn, is a paradise for builders who want to build sustainable products thus Web3 companies who want to build in Ibadan need to invest in education and building infrastructure that will keep the ecosystem going for the long haul.
2. Create Big Ecosystem Events
In my piece on why Ibadan needs small tech events over large ones, I wrote about how large tech events are statements of intent that creates buzz around ecosystems. As the former Head of Media, and now the Head of Operations at Ibadan Tech Expo, people often ask me why the past two editions of the event have been so successful, the obvious answer is to point to the millions of naira that we spend on online and offline publicity for the event, but after my team and I spent nearly a month after the 2024 event replying to mentions and collaboration requests on all our social media platforms, I came to a deeper conclusion, that Ibadan Tech Expo, beyond offering tech enthusiasts the chance to network with fellow techies and to meet their favorite founders, had become a place for people to show off their social credentials, and how relevant they are in the Ibadan tech ecosystem. In other words, we have been minting new micro and nano tech influencers by the dozens. And who doesn’t want to be a part of that?
The lesson here is that for Web3 startups, companies and innovators, small community meetups, bootcamps and hackathons can offer deeper knowledge sharing, deeper access and a sense of community, but it is only big, highly publicized events that can create that sense of being part of something bigger than oneself that motivates newbies and enthusiasts to not only want to be part of a growing Web3 ecosystem, but also to want to work to contribute to its growth. It is a simple principle that worked in 2023 and 2024 (and will work in 2025) in Ibadan as well as it worked 2000 years ago when an itinerant preacher walked up to a bunch of fishermen by the sea in a small Jewish town called Galilee and said “Follow me and I will make you fishers of men.” And they left their nets and followed him.
To put it simply, GO BIG OR GO HOME.
3. Influence is the Word
As I have pointed out, Ibadan’s tech ecosystem whether Web2 or Web3 is peculiar. The majority of people in Web3 (and even tech in general) at the moment are young people who are either unemployed, or in low paying jobs, who cannot cope with the costs of transportation in the city. This makes the traditional way of community mobilization nearly impracticable to the point of impossibility. So how does one draw newbies into a tech ecosystem with all these challenges? Influencers.
So how does influence work in the Ibadan Tech Ecosystem? I will share a practical case study. Danjuma Balogun. The convener of Ibadan Tech Expo, unarguably the biggest non-entertainment event in Ibadan. Danjuma is not a techie, he has never written a line of code in his life, He rarely even talks about tech on his X account where he has a huge following yet he remains one of the faces of the Oyo Tech Ecosystem, and is easily top 5 in terms of influencers in the Ibadan Tech community.
Danjuma has built that reputation in the tech community because with Ibadan Tech Expo, he has positioned himself as a connector between techies and tech founders, techies see him as the guy who has a connection to the tech founders they are interested in, while tech founders see him as the guy whom they trust to bring their product to their market. Again a long standing principle in technology that has applied since man invented the wheel tens of thousands of years ago and will still apply ten thousand years from now is that the majority of the users of a tech innovation will not care how it is made, just how it satisfies their need.
The lesson here is that Web3 innovators and founders are essential (not in the least because you need knowledgeable specialists to build the actual products and create the solutions), but the large scale ecosystem growth will be dependent on influencers, “marketers” and bridge builders, who have built a reputation beyond Web3. People who don’t necessarily have to know how the products are made, just how non-specialist and newbies can use it.
To put this whole point in simpler terms. You need specialists and techbros to build the products, but you need people whom, newbie/ early stage Web3 enthusiasts can look at and say “If that guy/girl can do it, then I can do it too” to grow an ecosystem.
Conclusion: From Local to Global Impact
Ibadan may not yet be synonymous with blockchain innovation, but it has all the raw ingredients to become a thriving Web3 hub. By investing in education and infrastructure, having web3 startup and founders collaborate to create big ecosystem events, and leveraging on influencers in the space, Ibadan can leapfrog into the global digital economy — not just as a participant, but as a creator. The Web3 revolution is not reserved for big cities alone. With the right mindset, partnerships, and patience, cities like Ibadan can define the next frontier of decentralized innovation from Africa.
