Five Nigerian cities including Lagos, Abuja, Kano, Ibadan, Port Harcourt and Benin City dominate the ranking of Africa’s biggest markets, according to the 2017 Fraym Urban Markets Index released recently and seen by businessamlive.

Among the 35 African cities listed on the index, Lagos, Abuja, Kano, Ibadan and Port Harcourt made the top 25 cities, as Nigeria accounts for 37 cities in the top 100.


https://www.youtube.com/watch?v=EfBTxUTfd10

The index, which specifically scores Africa’s cities in terms of GDP size (largest), consumer size (wealthiest) and trade connectivity (networked population) ranks Lagos third in terms of GDP size coming behind Johannesburg (2) and Cairo (1), with Abuja, Kano, Ibadan, Port Harcourt and Benin City in the 17th, 18th, 22nd and 32nd respectively.


On the score of consumer size, Lagos comes second behind Cairo, which comes top on all three parameters with Johannesburg coming fourth. In terms of networked population, Lagos fell to the fourth position, overtaken by Casablanca.

In terms of number of largest cities in the top 100, South Africa is second with nine cities: Johannesburg (2), Cape Town (7), Durban (13), Pretoria (21), Vereeniging (35), Port Elizabeth (36), Witbank (74), Pietermaritzburg (81), and Rustenburg (88).

According to the index, the consumer size of Lagos at 12.2 million is roughly the same size as all thirteen cities in the East African Community (Burundi, Kenya, Tanzania, Rwanda, Uganda) combined at 12.5 million.

The report also noted that Nigeria’s large capital cities control the continent’s markets, especially Lagos, Ibadan and Port Harcourt where retail business and fast moving consumers goods will attract at least one million consumers based on their economic power and market size.

The Fryam market index is coming after a recent report by The Economist Intelligence Unit (The EIU), which revealed that households in Lagos, Ibadan, Port Harcourt– earn over $5,000 per annum, a number projected to double by 2030.
The EIU said Nigeria sits atop African countries to benefit from an emerging but technology driven e-commerce market estimated to be worth between $50 billion and $75 billion.
https://www.businessamlive.com/five-nigerian-cities-dominate-ranking-of-africas-largest-markets/

How comes no state or cities from the east made this list?

This must be a lie cooked in Tinubu's parlour.

Where is that clown cursing from morning till night like a barren witch?



Cc
Freeborn02

I am surprised the study didn't mention Aba and Onitsha. These are clearly international markets that are even feeding the other markets, Lagos, Port Harcourt, Abuja, Ibadan and others.

Reality is different from fiction of lies and lies from the east part of a particular country.

But some say onitcha market is the largest in africa.
It is very wrong to say your father's farm is the biggest when you've not seen the farms of other people.

kiss the truth!

Nigeria will be great again

Many up there didn't either comprehend the article or didn't read it at all

greatiyk4u:
Many up there didn't either comprehend the article or didn't read it at all

Isn't it easy to spot individuals who are all out to find out whether their town or cities made a list or not, which is a way they feel inferior or superior. The list talks about consumer power and they're whinning that Nnewi and Onitsha doesn't make it up. Who dare compare populations of Lagos, Kano, Abuja, PH and Ibadan with that of Nnewi or Onitsha?

On another note, if my town doesn't make the list, does it make me inferior to others? We just like whinning and celebrating mediocrity. Is it very difficult to find out the most populated cities in Nigeria?