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Lagos Emerges Fifth Largest Economy In Africa - Business - Nairaland

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Lagos Emerges Fifth Largest Economy In Africa by emamos: 4:58pm On Oct 25, 2016
Lagos State has emerged as the fifth largest economy in Africa, consequent upon which, Governor Akinwunmi Ambode, disclosed that his administration is in the process of setting up an Economic Management Team, EMT, comprising distinguished individuals from the private sector and the public sector to manage and improve the feat.

Ambode spoke on Tuesday at the Lagos House in Ikeja when he received a delegation from the Nigerian-British Chamber of Commerce on courtesy visit, disclosing that the emergence of Lagos as Africa’s fifth largest economy was very instructive.

He promised that his government would explore synergy with private sector with the view to catapult the State into a true global city-state in the true sense of the word.

Ambode said: “Very soon we would be setting up what we would refer to as an Economic Management Team to drive the fifth largest economy, because that’s the way we need to envision ourself and this Economic Management Team will involve nominees from the Chambers and other people in the private sector so that we can collaborate because majorly this economy is driven by the private sector.

“Our duty is to create an enabling environment and fuse all that together.
“I think that synergy can just catapult Lagos into that global city-state that we want it to be.”
The governor explained that his decision to come up with the Office of Oversees Affairs and Investment, otherwise known as Lagos Global, was part of efforts at encouraging investment in Lagos both from within and outside, among many other initiatives of the present administration.

His words: “I think it is very instructive to clearly state that the economy of Lagos is in the hands of the private sector and beyond the fact that Lagos is now the fifth largest economy in Africa, the drive to take Nigeria out of recession actually resides in the private sector and willingness on the part of the public sector.

“Because our economy is in the hands of the private sector and we are willing to allow them drive it, that is why we have decided to formulate policies and decisions that will make the private sector to thrive in this State and that is why in the last 18 months, we have been running this administration on a tripod of security, job opportunities and infrastructure development.”

Explaining the tripod, Ambode said his administration believed that when the people and investors are well secured, businesses will thrive and more people would be employed, while the resources generated in terms of Internally Generated Revenue, IGR, would be deployed to provide infrastructure for the people.
The International Monetary Fund, IMF, had, in its Economic Outlook Report for October, projected Nigeria as the biggest economy in Africa ahead of South Africa and Egypt, with the Accountant-General of the Federation, Alhaji Idris Ahmed saying that the development demonstrates the resilienceof the economy.


http://dailypost.ng/2016/10/25/lagos-emerges-fifth-largest-economy-africa/

8 Likes 1 Share

Re: Lagos Emerges Fifth Largest Economy In Africa by emamos: 4:58pm On Oct 25, 2016
Eko o ni baje lailai..Naija o ni daru

35 Likes 2 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by beycity(m): 5:09pm On Oct 25, 2016
Not surprised.

6 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by Raydos(m): 5:31pm On Oct 25, 2016
When some ongoing projects in lagos are accomplished - lagos will then hit number 2!

49 Likes 3 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by tobtap: 6:14pm On Oct 25, 2016
lagos LEADS....

50 Likes 3 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by orimsamsam(m): 8:05pm On Oct 25, 2016
This is good. 5th largest economy in Africa. Lagos state is bless with visionary leaders and a progressive government. Fortunately for the state it has never fall into the hand of PDP .




But how will some egu exporter sleep tonight. Oooo Ave forgotten they also help in developing Lagos with there ugu sales




Eko oni baje oooo

Ile odua koni baje

Nigeria koni baje

98 Likes 10 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by steppin: 8:06pm On Oct 25, 2016
We no go hear word today.

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Re: Lagos Emerges Fifth Largest Economy In Africa by damton(m): 8:06pm On Oct 25, 2016
Lagos will continue to blaze the trail and remain the focal point for good governance in Nigeria.


When Lagos sneezes, Nigeria catches cold

Itesiwaju eko lo je wa l'ogun

56 Likes 1 Share

Re: Lagos Emerges Fifth Largest Economy In Africa by dan56: 8:06pm On Oct 25, 2016
lol

1 Like

Re: Lagos Emerges Fifth Largest Economy In Africa by eliwa47: 8:06pm On Oct 25, 2016
Eko akete!

5 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by chiamaka21(f): 8:06pm On Oct 25, 2016
kk

1 Like

Re: Lagos Emerges Fifth Largest Economy In Africa by datola: 8:07pm On Oct 25, 2016
Lagos deserves the top place Africa given the level of economic activities going on in the state.

Forward ever Lagos.

21 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by prince985(m): 8:07pm On Oct 25, 2016
D first largest economy in africa would not even b recognised as an economy elsewhere..talkless of d fifth.. lol..its just like being d fifth strongest maggot in a pit

14 Likes 4 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by Quelme: 8:07pm On Oct 25, 2016
Make dem clear road. Lagos ti take over!

7 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by Phonefanatic: 8:08pm On Oct 25, 2016
Largest economy? Is lagos now a country? Put Nigeria on the scale

3 Likes 2 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by StoneLucifer: 8:08pm On Oct 25, 2016
Make i go toilet first..I dey come!
Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:09pm On Oct 25, 2016
Thank God for Fashola

17 Likes 1 Share

Re: Lagos Emerges Fifth Largest Economy In Africa by Fiscabally(m): 8:09pm On Oct 25, 2016
Dem say We too dey show ~ Awa Teko

2 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by teebaxy(m): 8:09pm On Oct 25, 2016
Tiri ghosa for lagos

21 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by KINGTELLER: 8:09pm On Oct 25, 2016
My tax is working grin

6 Likes 1 Share

Re: Lagos Emerges Fifth Largest Economy In Africa by Adex097: 8:09pm On Oct 25, 2016
LAGOS Economy GO SOON OVERTAKE NIGERIA ECONOMY ! Quote me anywhere. grin grin

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Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:09pm On Oct 25, 2016
Lagos economy might be bigger than Nigeria's economy sef.

9 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:09pm On Oct 25, 2016
If this is true information reviewed by reputable international bodies then this is a very commendable piece of news.
Re: Lagos Emerges Fifth Largest Economy In Africa by datola: 8:10pm On Oct 25, 2016
tobtap:
lagos LEADS....

Where did you get this your data from?

2 Likes 1 Share

Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:10pm On Oct 25, 2016
Fifth Largest economy based on deceit and monopoly...controlling the only functioning seaports in Nigeria and also largest airport. If yorubaa have basic human conscience and decency expected of humans, go out on the streets, protest that Federal government should allow the seaports and riverport in Calabar, Warri, Onne, Port Harcourt and Onitsha to function to their full capacity without federal government interference. Also, allow the Enugu, Uyo, Owerri, Asaba, Calabar airports to function to their full capacities with direct international flights, then we'll praise you even if Lagos clinch the number one economy in Africa because I think it won it based on a level playing ground but right now...LAGOS IS A MONOPOLY AND INDIRECTLY SANCTIONING THE WICKEDNESS AND EVIL BEING METED ON SE AND SS BY BENEFITING FROM THIS MONSTROSITY OF INJUSTICE!

40 Likes 11 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by tdemo(m): 8:10pm On Oct 25, 2016
EKO ONI BAJE oooo......some IPOBS are not happy with this sha!!!!!!!!!!!!!!

6 Likes

Re: Lagos Emerges Fifth Largest Economy In Africa by kenbee(m): 8:10pm On Oct 25, 2016
So bad
Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:10pm On Oct 25, 2016
Good news

In other news....

13 Likes 3 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by ibroh22(m): 8:11pm On Oct 25, 2016
.

1 Like

Re: Lagos Emerges Fifth Largest Economy In Africa by OkoYibo: 8:12pm On Oct 25, 2016
Iyalaya Anybody!!!

Please, I want to make a special appeal to Jagaban.

Any Governor who has ruled Lagos and has completed his term should be sent to other states to govern them for at least 2 years each.

Ladies and Gentlemen, Ambode can't be commisioning rescue helicopters while Fayose is buying caterpault for hunters and those elderly fools in Kano are dragging for the right to wear red caps. It's not fair.

47 Likes 3 Shares

Re: Lagos Emerges Fifth Largest Economy In Africa by Nobody: 8:12pm On Oct 25, 2016
Phonefanatic:
Largest economy? Is lagos now a country? Put Nigeria on the scale
I'm guessing the research was conducted using states (provinces to other African countries) as subjects of study. I find the conclusion believable but waiting for other, more reputable sources to announce the news before I believe fully.
Re: Lagos Emerges Fifth Largest Economy In Africa by ojun50(m): 8:13pm On Oct 25, 2016
Na Ambode thy cover yr yash buhari

2 Likes

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