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Lagos Emerge Seventh World Fastest Growing City

The Nigerian Investment Promotion Commission said Lagos State is the world’s seventh fastest growing city in the world.

This is according to Lagos State’s Gross Domestic Product (GDP) and Its Internally Generated Revenue (IGR) making the state number one in Nigeria.

According to the commission, Lagos boost a whooping N398.7 billion IGR as of 2018, N1.2 trillion budget in 2020 and N5 trillion households consumption in 2019 ahead of other States in Nigeria.

Ms Yewande Sadiku, NIPC’s Executive Secretary, disclosed on Monday in Abuja at the formal launch of the commission’s ‘Book of States’ by Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo.

The book is a compendium of competitive advantages and key investment opportunities in each state, to enable investors appreciate the investment potentials in Nigeria.

Sadiku, while presenting the document highlighted various investment opportunities and comparative advantages across the 36 states and FCT to attract potential investors as captured in the document.

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According to her, Lagos has the largest concentration of young, skilled and educated workforce including largest tourism and entertainment industry in Africa as well as best city for start-ups in Africa.

Sadiku stated that the project which produced by NIPC in conjunction with the Nigeria Governor’s Forum (NGF) was a means to sell Nigeria by highlighting the uniqueness of each of the 36 states and the FCT.

The NIPC boss equally highlighted the competitive advantages of some states including Bauchi, Ekiti, Enugu, Kano, Sokoto and Taraba.