Lagos State Governor Babatunde Fashola has said Lagos contributes about $90 billion annually to the National Gross Domestic Product (GDP).
Fashola spoke yesterday at the Third Lagos Corporate Assembly, tagged BRF meets Business Chief Executives Officer (CEO), organised by the Ministry of Commerce and Industry.
He said the massive contribution was possible because of the thriving private sector, which has seen Lagos emerge as the fifth largest economy in Africa.
Fashola said: “If anyone underestimates the reason we decided to hear from you, it is because of the number of what you contribute in the aggregate to the economy of the country and the sub-region. The number showed a GDP of about $90 billion generated by Lagos alone. So it is important to have this constant discussion to feel the pulse of this group.
“While there was agitation over the issuance of building permit in Lagos between January and June this year, we have issued 706 building permits to residents.
“These are issues important in urban planning. The buildings that collapsed were not built today, but less than 30 years ago. I have tried to ensure that buildings under construction are insured to create employment for the insurance company.”
Fashola also spoke on the Independent Power Project (IPP) initiated by the government, saying the essence was not to distribute the power generated but to use it in government facilities.
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