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Despite claims by Lagos State Commissioner for Economic Planning and Budget, Ọpẹ George, that Lagos holds the seventh-largest GDP in Africa, credible data suggests otherwise.
George’s assertion that Lagos’s GDP has grown from N27 trillion in 2019 to N41 trillion is inaccurate. Based on IMF estimates, Lagos’s GDP stands at $34.17 billion, falling short of the $40 billion threshold for Africa’s top ten economies.
The IMF report lists South Africa, Egypt, Algeria, Ethiopia, Morocco, Kenya, Angola, Ivory Coast, Tanzania, and Ghana as the continent’s top ten economies, all surpassing $40 billion in GDP.
George’s failure to cite a credible source for his claim casts doubt on its accuracy. Lagos’s GDP is likely to rank below other African cities such as Johannesburg, Cape Town, and Cairo in terms of economic size.
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