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Lagos will soon become Africa’s third largest economy – Ambode

Efemena Sowho



Ambode - Lagos will soon become Africa's third largest economy - Ambode


Governor of Lagos state, Akinwunmi Ambode has revealed intentions to make Lagos state, Africa’s third largest economy.

Ambode stated that his government was working assiduously to improve education especially in the area of Vocational training. He pointed out that health facilities are receiving ‘agressive’ rehabilitation and development of infrastructure will continue in 2017.

Speaking at a Christmas Eve event organised by the Yoruba Tennis Club (YTC) at Onikan, Ambode said;

Lagos is currently home to 65 per cent of Nigeria’s businesses, with a presence of over 2,000 manufacturing companies, 200 financial institutions and the largest collection of small and medium enterprises in Africa.

We are Africa’s fastest growing market and still the 5th largest economy in Africa with a GDP of $91bn. The drop in our GDP value from $131bn is as a result of the fluctuation in foreign exchange, but our ultimate goal is to grow our GDP to move from 5th to 3rd largest in Africa.

Speaking on the  2017 Golden Jubilee Budget currently undergoing consideration by the State House of Assembly, he said;

Apart from the Golden Jubilee Anniversary celebration, 2017 will witness the commencement and completion of critical infrastructure that will create new economies in the state, facilitate growth and propel the state economy to enviable heights

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