20 per cent of Nigeria’s GDP from Lagos – Commissioner

Lagos State currently contributes forty-one trillion naira, that is, twenty percent to the country’s Gross Domestic Products, GDP.

The Commissioner for Economic Planning and Budget, Mr Ope George gave the figure at a news briefing to mark the first anniversary of the second term of Governor Babajide Sanwo-Olu in Alausa, Ikeja.

He said in the past year, Lagos had faced many challenges particularly such as COVID-19 and Endsars, which continued to affect the state’s economy.

Mr George said the ministry had devised strategies to keep the state economy afloat and to boost investor confidence, adding that “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.”

The Commissioner revealed that “As we speak now, I believe that we are currently ranked 7th in terms of GDP in Nigeria …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 and I think our GDP has moved from about 27 to 41 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.”