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Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion - Politics - Nairaland

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Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Goodvibes007: 8:45pm On Mar 12
Nigeria's commercial capital, Lagos, has made another economic leap, as its Gross Domestic Product (GDP) rose to US$259.75 billion based on Purchasing Power Parity (PPP), cementing the state's position as one of Africa's economic forces.

The new economic milestone was announced during the official launch of the Lagos Economic Development Update (LEDU) 2025 on Wednesday, March 12.

The report stated that Lagos has become the second-largest economy on the continent, only behind the Egyptian capital, Cairo, due to its impressive development.

According to the report, the state's Gross Domestic Product (GDP) stood at US$259.75 billion in 2023.

It also noted that Lagos's economy witnessed significant growth in the first half of 2024, expanding to N27.38 trillion, representing a substantial increase from N19.65 trillion in 2023.

This growth highlights the robustness of Nigeria's commercial capital, which has continued to show resilience amid economic reforms and ongoing infrastructural investments.

However, the growth reflected a need for enhanced revenue mobilisation efforts, as shown in the tax-to-GDP ratio, which was unimpressive at 2.3%.

Lagos economic outlook
Looking into the future, Governor Babajide Sanwo-Olu-led Lagos State government has set ambitious projections for the 2025 fiscal year to bring economic expansion and stability.

The service sector will continue on its expansion trajectory, with improvements in agriculture and industrial production complementing the success. Also, the continued decline in the prices of Petroleum Motor Spirit (PMS), popularly known as petrol, and a stable naira/dollar exchange rate are expected to aid economic stability.

At the same time, the forecast puts headline inflation at 34.2%, with food inflation slightly higher at 34.9%.

For revenue projection, the state government also anticipates generating N2.79 trillion in revenue for 2025, stressing the need for increased fiscal discipline and diversification of revenue sources.

https://www.pulse.ng/articles/news/local/lagos-becomes-africas-2nd-largest-city-economy-as-gdp-hits-dollar259-billion-2025031218125946368

26 Likes 6 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by ogododo: 8:46pm On Mar 12
With 80% Igbo contributed development.

45 Likes 14 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by opamoses1: 8:47pm On Mar 12
Legacies of Jagaban.

Bola Ahmed Tinubu, his excellency, and his mentees - Fashola, Ambode, and Sanwo Olu.

64 Likes 11 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by opamoses1: 8:47pm On Mar 12
ogododo:
With 80% Igbo contributed development.
That's why Cairo Anambra is number 1 on the list. Since Anambra state is 99.999% governed by Igbos.

175 Likes 21 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Commentor: 8:49pm On Mar 12
Na for some people to chop otapiapia.

175 Likes 4 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Enugurangers: 8:52pm On Mar 12
opamoses1:
Legacies of Jagaban.

Bola Ahmed Tinubu, his excellency, and his mentees - Fashola, Ambode, and Sanwo Olu.
Yes o my brother. Tinubu finish work for that state.

Governor Tinubu, now President Tinubu, laid the foundation. I remember when he went to China to hustle for investors for the Lekki Free trade zone. That alone changed the fortunes of Lagos. Same place is where the biggest US embassy in the world is now being built. Same place also houses the deepest sea port in Nigeria.

34 Likes 10 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by mrvitalis(m): 8:54pm On Mar 12
Nigeria's GDP is 199 billion dollars
But someone want me to believe Lagos GDP is 256 billion dollars? Lmaooo

The propaganda is now too childish no effort again

24 Likes 6 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Enugurangers: 8:54pm On Mar 12
mrvitalis:
Nigeria's GDP is 199 billion dollars
But someone want me to believe Lagos GDP is 256 billion dollars? Lmaooo

The propaganda is now too childish no effort again

Nigeria GDP was 363.8 billion USD (2023).
Grew 2.74% by end of 2023.
Grew 3.40% by end of 2024.
And it's still rapidly growing. Just 6 days ago.

https://www.dabafinance.com/en/news/nigeria-gdp-grows-at-fastest-pace-in-three-years-on-services-boom

Let's stay positive.

56 Likes 8 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by nedu666: 9:25pm On Mar 12
So where is Johannesburg, Cape Town, Pretoria, Algiers, Rabat etc.

5 Likes 1 Share

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by nedu666: 9:26pm On Mar 12
mrvitalis:
Nigeria's GDP is 199 billion dollars
But someone want me to believe Lagos GDP is 256 billion dollars? Lmaooo

The propaganda is now too childish no effort again


I tire. As if lagos gdp is not part of Nigeria gdp

8 Likes 4 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Smartcitizen: 9:28pm On Mar 12
opamoses1:
Legacies of Jagaban.

Bola Ahmed Tinubu, his excellency, and his mentees - Fashola, Ambode, and Sanwo Olu.


Hahaha hahaha!

He reached Abuja cement finished.


🤣🤣🤣🤣🤣🤣🤣

17 Likes 1 Share

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Factcheck0001: 9:29pm On Mar 12
Our brothers from the land of the rising tears won't let us rest now with their tears

This is one of tinubu legacy that we all can see, just ask them to mention one thing their agulu fraud did in anambara that is still seen till now then war go start.

They developed everywhere n when e reach to develop their own region cement finish

138 Likes 9 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Factcheck0001: 9:30pm On Mar 12
ogododo:
With 80% Igbo contributed development.
the first picture is that of grok disputing Igbos age long lies of developing Lagos

The same Igbos who developed Lagos but once it's turn to develop their region cement finish

The second one is the top 50 companies in Lagos n tribe of its owners n Igbos no dey dere at all

Statistics don lie

So how did Igbos develop Lagos when facts says otherwise

135 Likes 10 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by phantomxx: 9:32pm On Mar 12
Factcheck0001:
A

You are booking space .... after carefully avoiding the thread where Tinubu asked Obasa be left alone only to come here to masturbate abi? Joker!! 😂

Your hypocrisy will kill you people one day.

2 Likes

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Factcheck0001: 9:34pm On Mar 12
phantomxx:


You are booking space .... after carefully avoiding the thread where Tinubu asked Obasa be left alone only to come here to masturbate abi? Joker!! 😂

Your hypocrisy will kill you people one day.
I never drop bombshell on your flat head n u are already jittery

Chinedu calm down, we ain't here to kill but burst Igbo lies

101 Likes

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by phantomxx: 9:37pm On Mar 12
Factcheck0001:
I never drop bombshell on your flat head n u are already jittery

Chinedu calm down, we ain't here to kill but burst Igbo lies

Go and grow a spine in a lab somewhere .... bloody cowardly cretin!! 😂

Wanking over Lagos one illiterate boy from Anambra pays more tax to in a month just from selling spare parts than your lazy lineage has done in a decade. 😂

7 Likes

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Obaaderemi2: 9:40pm On Mar 12
Smartcitizen:



Hahaha hahaha!

He reached Abuja cement finished.


🤣🤣🤣🤣🤣🤣🤣
This is the first time since Obasanjo years that Nigeria is on track. But I don't expect someone like you to understand

23 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Smartcitizen: 9:45pm On Mar 12
Obaaderemi2:
This is the first time since Obasanjo years that Nigeria is on track. But I don't expect someone like you to understand


YES on track of suffering and pretending and most of your people committing suicide.


Hypocrisy is in the blood of an average Yoruba person because if another person from another region was the president and doing this, most of you would have been making noise and shouting like a wounded monkey.

You are very terrible people.

10 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Factcheck0001: 9:47pm On Mar 12
phantomxx:


Go and grow a spine in a lab somewhere .... bloody cowardly cretin!! 😂

Wanking over Lagos one illiterate boy from Anambra pays more tax to in a month just from selling spare parts than your lazy lineage has done in a decade. 😂
so Igbos Dey pay tax in Lagos but their governors said paying task is an herculean task to an average Igbo

Top 50 businesses in Lagos Igbo no dey, u think say development na by selling fake chargers n gadgets?

111 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Kennyswag: 9:48pm On Mar 12
I too love Yorubaland cool

I too hate one useless tribe like that land tongue

15 Likes 2 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by phantomxx: 9:50pm On Mar 12
Factcheck0001:
so Igbos Dey pay tax in Lagos but their governors said paying task is an herculean task to an average Igbo

Top 50 businesses in Lagos Igbo no dey, u think say development na by selling fake chargers n gadgets?

😂... go and grow a spine!!

"Let Obasa be" 😂

1 Like

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Kennyswag: 9:50pm On Mar 12
mrvitalis:
Nigeria's GDP is 199 billion dollars
But someone want me to believe Lagos GDP is 256 billion dollars? Lmaooo

The propaganda is now too childish no effort again
Nigeria Africa largest economy is 199b?

Omo nna oshi grin

18 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Kennyswag: 9:52pm On Mar 12
phantomxx:


Go and grow a spine in a lab somewhere .... bloody cowardly cretin!! 😂

Wanking over Lagos one illiterate boy from Anambra pays more tax to in a month just from selling spare parts than your lazy lineage has done in a decade. 😂
you igbos should stop forcing yourself on Yorubaland. We don't like you people. Take your rubbish tax to you landlocked region. They need it there the most.
We don't want you animals tongue

24 Likes 4 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by kettykin: 9:52pm On Mar 12
This topic should have read, Lagos GDP overtakes Nigeria's GDP.


Gross Demented problem

4 Likes

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by tunapawizzy: 9:58pm On Mar 12
grin
Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by PDPdestroyer(m): 9:59pm On Mar 12
Onitsha, Anambra is the 1st in Africa, thanks to Obi’s multimillion dollar hero beer company that’s now worth NEXT to nothing. Anambra leads, others follow

19 Likes 4 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by lordm(m): 10:00pm On Mar 12
Igbos will come and cry

15 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by jubrilELsudan: 10:00pm On Mar 12
LIES FROM THE PIT OF HELL

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Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Commentor: 10:00pm On Mar 12
grin

How many people go cry?

7 Likes 1 Share

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Omoawoke(m): 10:00pm On Mar 12
Our city
Our precious !

We can be the pride of Africa and the world. We can make Nigeria the destination and dream land of others

Thanks to everyone that has been a major contributor to this massive development…
Everyone’s contribution no matter how little or how massive matters… from north to the south, everyone matters

11 Likes 1 Share

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by Ayoefa: 10:00pm On Mar 12
City of fortune.

14 Likes 3 Shares

Re: Lagos Becomes Africa's 2nd-largest City Economy As GDP Hits $259 Billion by LZAA: 10:00pm On Mar 12
mrvitalis:
Nigeria's GDP is 199 billion dollars
But someone want me to believe Lagos GDP is 256 billion dollars? Lmaooo

The propaganda is now too childish no effort again
😄😄😄😄

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