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Lagos GDP hits $136b, joins league of fastest developing mega cities in the world

More reasons have emerged showing how Lagos State has become one of the fastest growing mega city in the world.

This was made public by the State Governor, Akinwunmi Ambode who revealed that the Gross Domestic Product GDP of the state has hit $136 billion.

Apart from that, Lagos accounts for over 90 per cent of Nigeria’s foreign trade flow, which invariably contributes 30 per cent to the country’s GDP and also accounts for 65 per cent of its manufacturing activity.

Ambode who spoke via his Special Adviser on Overseas Affairs and Investment, Professor Ademola Abass, in Alausa, Ikeja, weekend, disclosed that the state is now attracting average of 293 investors yearly.

Business Hilights recalls that the Chief Economist as PwC, Mr. Andrew Nevin said in a recent interview that out of 994 mega firms that paid taxes in excess of N10m in 2015, 992 were based in Lagos State.

Continuing, Ambode stressed that “Lagos, as the economic capital of Nigeria and the West African sub region with a 136 billion USD GDP, accounts for over 90 per cent of Nigeria’s foreign trade flow, contributes 30 per cent to the country’s GDP and also accounts for 65 per cent of its manufacturing activity”.

“It is our desire to see a prosperous Lagos that we will all be proud of, in terms of investment, open for business for the benefit of all,” the Governor added.

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