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Lagos State’s Economy is Bigger Than the Economy Of 42 African Countries combined

Early this year the present Governor of Lagos state while still a governorship candidate of the All Progressives Congress in Lagos State, Mr. Akinwunmi Ambode, said if elected governor, his administration will ensure that the GDP of the state which currently stands at $91bn, is doubled.


According to a statement by his Director of Media and Communications, Mr. Steve Ayorinde, Ambode said this during meetings with business leaders in the state.

Ambode explained that the GDP of Lagos State is estimated at $91bn, which is higher than the GDP of 42 countries in Africa including Kenya with $66bn, Ghana with $61.7bn and Tanzania with $58.44bn.

“In fact Lagos’ GDP is equivalent to the GDP of 19 African countries added together! I dare say that Lagos’ GDP could double the estimated amount, as these figures do not take into account the informal sector, which is believed to be just as large if not larger than the formal sector,” he said.


Ambode, who holds a Master’s degree in Accounting, said his administration would ensure improved security and by so doing, create a 24-hour economy.

The former Accountant General of the state said, “Lagos will be open for business 24 hours a day and seven days a week, making it a true 24/7 economy. For a mega city to thrive, we must have a holistic plan to make the city attractive and investment-friendly both domestically and internationally.

“The importance of Lagos and how its resources are managed have national implications, either positively or otherwise. Lagos is the most populous city in Nigeria and the seventh fastest growing city in the world. We are home to approximately 21 million people, and we are the economic heartbeat of this great nation and indeed West Africa at large. It is in the interest of this country that we all jointly and collectively play our part in ensuring that Lagos remains prosperous.”



Written by How Africa

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