Lagos State has achieved a significant milestone, being ranked as Africa’s second-largest city, following Cairo, Egypt.
This recognition highlights Lagos’ growing economic and demographic influence on the continent.
Key Details:
- Economic Growth: Lagos’ Gross Domestic Product (GDP) has reached an impressive $259 billion, measured by Purchasing Power Parity (PPP). This positions the city as a major economic hub in Africa.
- Recent Developments: The announcement was made during the launch of the Lagos Economic Development Update (LEDU) 2025. The report revealed that Lagos’ economy grew to ₦27.38 trillion in the first half of 2024, up from ₦19.65 trillion in 2023.
- Future Projections: The state’s GDP is expected to rise further, from ₦54.77 trillion in 2024 to ₦66.47 trillion in 2025, reflecting a real GDP growth rate of between 5.02% and 6.49%.
This achievement underscores Lagos’ resilience and its role as a key driver of Nigeria’s economic progress.
Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.