Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,615 members, 7,820,182 topics. Date: Tuesday, 07 May 2024 at 11:00 AM

Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 (3984 Views)

Igbos And Lagos Economy / Who Runs The Lagos Economy? / Lagos Economy Rated Above Ghana, UK - Fashola (2) (3) (4)

(1) (Reply) (Go Down)

Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Nobody: 1:45am On Dec 15, 2012
Africa's New Biggest City Is Lagos, Nigeria



In a celebration of Lagos and African urbanization, the Financial Times ran a piece by Xan Rice highlighting Nigeria's commercial capital's size, its economic importance, and its government's energy in addressing concrete urban problems.

The UN estimated the city's population at 11.2 million in 2011. The New York Times estimates that it is now at least twenty-one million, surpassing Cairo as Africa's largest city. It is clear that whatever the size, and however the city is defined, Lagos is the center of one of the largest urban areas in the world. With a population of perhaps 1.4 million as recently as 1970, its growth has been stupendous. Rice estimates that Lagos generates about a quarter of Nigeria's total gross domestic product. The center of Nigeria's modern economy, Lagos has many millionaires, but Rice estimates that two thirds of the population are slum dwellers.

Lagos is fortunate in that one energetic governor, Babatunde Fashola, succeeded another, Bola Tinubu. Tax revenue now exceeds $92m per month, up from $3.7m per month in 1999. Fashola says that tax rates have not increased--but clearly enforcement has. Tax collection, in a system that recalls tax farming in the New Testament or under Louis XIV, is apparently performed by a private company with links to Tinubu. The company retains 10 percent of all revenue collected over a certain threshold (at present, $43m per month). With the revenue, Fashola has launched genuinely impressive transportation and sanitation initiatives that range from construction of a city rail network, bus lanes, and filling potholes to more efficient trash collection.

The energy and other initiatives implemented by the city government are in stark contrast to the poor governance and paralysis that characterizes most of the rest of Nigeria. Meanwhile, the city continues to grow explosively. If jobs in the modern economy are to be found, it will require substantial new investment in education. Nationwide, there has been remarkably little for a generation, with the exception of the rapid expansion of the university system--itself underfunded. But, Lagos illustrates what is possible when the government enters into a social contract with its citizens whereby in return for taxes, it provides services.
http://www.theatlanticcities.com/housing/2012/07/africas-new-biggest-city-lagos-nigeria/2545/
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Nobody: 1:46am On Dec 15, 2012
The article also forecasts that the economy of Lagos, which is listed as one of the “Big 5”, will by 2015, outweigh that of it’s nearest competitor, Johannesburg, which has the biggest economy in Africa. Johannesburg has a nominal GDP output of $51billion, while Lagos has a GDP of $40billion but that of Lagos is predicted to jump when Nigeria rebases its economic statistics next year.

http://www.ynaija.com/thenextbigthing-financial-times-lists-ibadan-as-part-of-african-cities-to-watch/
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Nobody: 1:47am On Dec 15, 2012
I was going to get the excerpts directly from Financial Times, however, my subscription has expired....

Interesting news, anyway...
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by demmy(m): 2:09am On Dec 15, 2012
No surprise there. The giant is rising.

1 Like

Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Anybaba: 5:58am On Dec 15, 2012
God bless Nigeria. It will be well, Amen !!!
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by geez1: 6:39am On Dec 15, 2012
God bless the SW

Its about to get even better as we plan a mega city and integration across all SW states. The region will be better for it and though there's still a lot more to be done, it is evident that an institution or government will move in the direction of the type of leadership it has

Yorubaland o Ni baje

1 Like

Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by RickyRoss1(m): 7:00am On Dec 15, 2012
Wonderful news.
Fashola is doing pretty well. But he should not concentrate entirely on the big men quarters. At present the government is concentrating mostly on the Island, leaving the poor masses behind. These are the people who gave him the vote. Anyway the mess cannot be cleaned in 8 years. Whoever succeeds Fashola should do better than Fashola
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by muktarl: 7:08am On Dec 15, 2012
Unless you are talking of Africa's biggest slum..then its lagos. No insult intended, but that is a fact bro.
Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Nobody: 7:25am On Dec 15, 2012
@muktari

Re: Africa's New Biggest City Is Lagos - & Economy To Outweigh Johannesburg By 2015 by Nobody: 8:21am On Dec 15, 2012
geez*:
God bless the SW

Its about to get even better as we plan a mega city and integration across all SW states. The region will be better for it and though there's still a lot more to be done, it is evident that an institution or government will move in the direction of the type of leadership it has

Yorubaland o Ni baje

though in the SW, it is not SW to me. There is a different culture there from the one in the SW. Lagos in mini naija and it should stay that way.

(1) (Reply)

Muslim-muslim, Christian-christian Ticket Dangerous -obasanjo / Kano Sharia Court Sentences 8 To Death For Blasphemy / Bukola Saraki Was Actually IMPEACHED! Unban Me- Naijaedutech

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 25
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.