Lagos, Nigeria’s commercial nerve center, has reached a significant economic milestone, with its Gross Domestic Product (GDP) surging to $259 billion, making it the second-largest city economy in Africa.
This new ranking places Lagos just behind Cairo, Egypt, solidifying its status as a dominant economic hub on the continent.
The announcement comes as the state continues to experience rapid urbanization, industrial growth, and expansion in key sectors such as finance, trade, technology, and real estate.
Lagos accounts for a substantial portion of Nigeria’s economic output, with its bustling ports, financial institutions, and thriving startup ecosystem playing a crucial role in driving the nation’s GDP.
Governor Sanwo Olu welcomed the development, emphasizing that the state’s strategic policies, infrastructure investments, and business-friendly environment have contributed to this growth.
“Lagos remains committed to fostering economic expansion, creating jobs, and ensuring sustainable development for all residents,” the governor stated.
