Lagos targets $800bn–$1trn economy by 2052, Sanwo-Olu says

Lagos State Governor Babajide Sanwo-Olu says Lagos is targeting an economy valued at between $800 billion and $1 trillion by 2052, driven by increased manufacturing, value addition, exports and investment.

Announced at the trade fair closing

Sanwo-Olu disclosed the target on Sunday (November 15) at the closing ceremony of the 40th Lagos International Trade Fair, represented by the Secretary to the State Government, Mrs Abimbola Salu-Hundeyin. The fair was held under the theme “40 Years of Trade, Growth and Global Connection.” The governor said Lagos was working to move beyond being a major centre for buying and selling to becoming a stronger hub for production and exports.

Lagos to host Intra-African Trade Fair in 2027

Salu-Hundeyin also announced that Lagos would host the Intra-African Trade Fair 2027 from November 5 to 11, with expectations of attracting more than 100,000 visitors and 2,500 exhibitors from over 100 countries, and generating $50 billion in trade and investment deals. Leye Kupoluyi, president of the Lagos Chamber of Commerce and Industry, used the same occasion to call on governments at all levels to address infrastructure and security challenges, rising inflation and the high cost of doing business.