Lagos History
Lagos State was created on May 27, 1967 and became the federal capital of Nigeria on April 1, . . .
LAG S
S
AFRICA’S FASTEST GROWING GLOBAL CITY
Why Lagos
Lagos, the commercial capital of West Africa, is a major hub for diverse businesses and the headquarters of national and global companies. It is strategically located with land, air and sea connections to major Africa and global market. This vantage position has always made it the destination of first choice for foreign direct investment and center of attraction for investors.
Contributes more than 30% of Nigeria GDP
Responsible for about 60% of energy demand in Nigeria
Accounts for 90% Nigeria’s foreign Trade flow
Generates over 50% of Nigeria’s port revenues
70% of the state revenue is internally generated
Top 10 Investment Sectors
Environment
Environment
Health
Non-health insurance user
Informal sector is 63% and formal sector is 15% (2013)
Infant mortality rate
75/1,000 life births
Health Penetration rate
Increased from 0.43% in 2005 to about 3.46% in 2014
Public health workers
Doctors-1,265 Nurses-3,372, Pharmacists-209
Private health workers
Doctors-1,342 Nurses-2,134, Pharmacists-43
Housing
5 million units
Housing Deficit
20% growth / annum
Av. Population Growth
Over 1,500 people/ day
Av. Population Growth
About 10,000 / annum
Influx of Expatriates
1 - 13 malls within 9 years
Growth of malls
2.5% of monthly wage
Contribution to mortgage
72 houses built to meet demand for low cost housing
Recent development
Transportation
Investing in Bus Rapid Transit
Investing in Rail Services
Power and infrastructure
2,000MW
Power supply
10,000MW
Power demand
500MJ/inhabitant
Electricity consumption per capital
40%
Proportion of households with access to electricity
20%
Energy lost through transmission
48MW(2015)
Recent improvements
Oil and Gas
800,000MT
Homes
400,000MT
Automobile & Transportation
400,000MT
Agro Processing
100,000MT
Food & Abattoirs
Education
1,705
No. of Pry & Sec sch (state)
15,003
No. of Pry & Sec sch (private)
1M
No. of students(state)
1.3M
No. of students(private)
28,390
No. of teachers(state)
118,000
No. of teachers(private)
91,000
Technical and Vocational Education and Training
4M
Estimated target market size in lagos
Startup Stories
A global community powered by Lagos for Startups.
Our goal is to educate, inspire, and connect entrepreneurs -
Meet these awesome entrepreneurs at our monthly meetups
here in Lagos.
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Startup Ecosystem
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