Nigerian Economy: Why Lagos Works

www.ft.com

(paywall) In a country plagued for its political and economic struggles, Lagos is thriving in attracting investment and private enterprise. With its 2017 output of $136bn, more than a third of Nigeria’s GDP was generated from Lagos. The city is the center of most of the country’s manufacturing and home to a pan-African banking industry as well as a thriving music, fashion, and film scene. The Dangote oil refinery (a new project on the Lagos Island) with a capacity of 650,000 barrels a day, will cost at least $12bn to complete and be the biggest refinery of its type in the world, producing enough petrol and kerosene to meet the entire demand of Nigeria’s 180m people, with left over for export. Read this article to learn how Lagos is shaping the national economy of Nigeria. 

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