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Lagos GDP Hits N41 Trillion, 7th in Africa under Sanwo-Olu

Lagos GDP Hits N41 Trillion, 7th in Africa under Sanwo-Olu

The Lagos State Government announced that its Gross Domestic Product (GDP) has surged from N27 trillion to N41 trillion within four years of Governor Babajide Sanwo-Olu’s administration, securing its position as the 7th largest economy in Africa.

During the ongoing ministerial press briefing to mark the first year of Governor Sanwo-Olu’s second term in office at Alausa, Ikeja, Lagos, the Commissioner for Economic Planning and Budget, Mr. Ope George, revealed this on Thursday, May 2, 2024.

According to George, “Over the last couple of years, Lagos had faced numerous challenges, particularly when COVID-19 and EndSARS struck.

“So, we have had a lot of shocks within our system over the last couple of years, and with everything going on around the world.

“We are currently riding the curve and we are coming out on a better side.

“You hear sometimes when they say Lagos is one of the largest economies in Africa, and truly, it’s not static, we will continue to move based on what’s going on in the world.

“As we speak now, I believe that we are currently ranked 7th in terms of GDP in Africa.

“We contribute at least a minimum of over 20 percent of Nigeria’s GDP, and you will find that over a period of review, during the first term of Mr Governor, we are moving in the right direction.

“Our GDP has moved from about N27 to N41 trillion. Everything shows that our indices are climbing in the right direction, despite all the shocks and all the problems we have witnessed in the past.”

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