Lagos State has been ranked as Africa’s second-largest city after Cairo, Egypt.
This achievement comes as the state’s Gross Domestic Product, GDP, rose to $259 billion based on Purchasing Power Parity, PPP.
The announcement was made on Wednesday at the official launch of the Lagos Economic Development Update, LEDU, 2025.
The report revealed that Lagos’ economy expanded to N27.38 trillion in the first half of 2024, marking a significant increase from N19.65 trillion in 2023.
Key budget projections for 2025 indicate that Lagos State’s GDP is expected to grow from N54.77 trillion in 2024 to N66.47 trillion in 2025.