Lagos State Governor Babajide Sanwo-Olu has proudly announced that the state’s GDP has reached a record-breaking $259 billion based on purchasing power parity, solidifying its position as Africa’s second-largest city economy.
Sanwo-Olu attributed this achievement to the strength and resilience of Lagos’ economy, its residents, and the state’s role as a hub for investment and opportunities.
The governor emphasized that Lagos is not only experiencing economic growth but is also leading the way in transforming Africa’s economy.
With this milestone, Lagos has further established itself as a prominent player in the continent’s financial landscape.
It read: “With a GDP of $259 billion based on purchasing power parity (PPP), we have cemented our place as Africa’s second-largest city economy.
“This milestone is more than a number; it reflects the strength of our economy, the resilience of our people, and our city’s role as a hub for investment, trade, and opportunity.
“Economic indices like PPP are crucial. They highlight real economic strength, competitiveness, and the cost-of-living advantage.
“From infrastructure to technology, tourism to manufacturing, we are driving sustainable growth.
“Lagos remains at the forefront of Africa’s economic transformation, and the best is yet to come,” the Governor concluded.
