State of the Month

Lagos state Governor: Babajide Sanwo-OluCapital: IkejaLand Mass: App. 3,577 square kilometersPopulation: App. 16.7mGDP: N 41.2 Trillion ($87B)Unemployment Rate: 5.5%GDP Growth Rate: 10%Population Growth Rate: 3.7% As of November 2024, Lagos State continues to lead among Nigerian states in terms ofvarious development indices. It excels particularly in economic strength, revenuegeneration independent of federal allocations, and public health preparedness. Lagos, forinstance, topped the Health Preparedness Index, reflecting its advanced healthcareinfrastructure and proactive health policies.Lagos’ dominance is linked to its large population, strategic location, robust economicactivities, and effective governance that prioritize innovation and infrastructureexpansion.Located in the southwestern geopolitical zone of Nigeria, is the smallest state by landarea but the most populous in the country. As of the most recent estimates, thepopulation of Lagos State is approximately 16.7 million, making it one of the fastest-growing cities globally. Lagos is Nigeria’s economic hub, contributing significantly to thecountry’s GDP through trade, commerce, and finance.The state capital is Ikeja, a major administrative and commercial center known for itsextensive government institutions, bustling markets, and business parks, as well as theMurtala Muhammed International Airport. Five administrative divisions: Ikeja, Badagry, Ikorodu, Lagos Island, and Epe (oftenabbreviated as IBILE), which are further divided into Local Government Areas (LGAs). Thestate is a major center for culture, education, media, and technology, with vibrantindustries spanning from fashion to film, commonly referred to as “Nollywood.”Lagos State’s economy is driven by commerce, transportation, real estate, andtechnology, with a high concentration of small and medium-sized enterprises (SMEs) anda rapidly growing tech sector earning it the reputation of being a tech hub in Africa.The current governor of Lagos State is Babajide Sanwo-Olu, who assumed office on May29, 2019, and was re-elected in 2023. He is affiliated with the All Progressives Congress(APC). Lagos State has a land mass of approximately 3,577 square kilometers, making itNigeria’s smallest state by land area, yet it is the most densely populated andeconomically significant​.Major towns in Lagos State include Ikeja (the state capital), Lagos Island, Surulere,Ikorodu, Epe, Badagry, and Apapa. The state serves as Nigeria’s economic hub with itsbustling ports, markets, and extensive commercial activities.Alimosho is a local government area in Lagos City, South West Nigeria. It is the largestlocal government in Lagos in terms of population.Religious demographics, Lagos is a highly diverse state. It has a predominantly Christianand Muslim population, with adherents of traditional religions making up a smallerproportion. The population distribution is fluid due to urbanization, but it remains almostevenly split between Christians and Muslims, reflecting the cultural melting pot nature ofthe state.Lagos State’s economy is the largest in Nigeria, and its GDP contributes a significantportion to the nation’s total. However, precise figures for 2024, such as the state’s GDP,growth rate, unemployment rate, inflation rate, and import/export data, would typicallyrequire access to the latest state-specific economic reports or updates from reputablefinancial institutions or government sources like the Lagos Bureau of Statistics or theNational Bureau of Statistics (NBS).