“Lagos Will Become Africa’s Third Largest Economy” ~ Gov. Ambode

Lagos State Governor, Akinwunmi Ambode, has said that one of his administration’s major aim is to make the state the third largest economy in Africa.

Ambode explained that they would focus more on education, especially vocational training.

He promised that health facilities will be rehabilitated.

He also stated that the renewal and building of more infrastructure would continue next year.

Ambode was speaking at the Christmas Eve Dance, organised by the Yoruba Tennis Club in Onikan, Lagos.

He said: “Lagos is currently home to 65 per cent of Nigeria’s businesses, with a presence of over 2,000 manufacturing companies, 200 financial institutions and the largest collection of small and medium enterprises in Africa.

“We are Africa’s fastest growing market and still the 5th largest economy in Africa with a GDP of $91bn. The drop in our GDP value from $131bn is as a result of the fluctuation in foreign exchange, but our ultimate goal is to grow our GDP to move from 5th to 3rd largest in Africa.”

Ambode also expressed optimism that the 2017 Golden Jubilee Budget currently undergoing consideration by the State House of Assembly, will help facilitate milestone developments in 2017.

“Apart from the Golden Jubilee Anniversary celebration, 2017 will witness the commencement and completion of critical infrastructure that will create new economies in the state, facilitate growth and propel the state economy to enviable heights,” he said.