Lagos State Governor, Babajide Sanwo-Olu, on Monday, revealed that youths residing in Lagos State contribute N4.5 trillion annually to the state’s Gross Domestic Product (GDP).
He made this known at the Abuja Dialogue, held in Abuja and organized by the Office of the Vice President and the Lagos State Government, themed “Scaling Excellence: Youth Leadership as Strategic Infrastructure for National Transformation.”
The event, a precursor to the forthcoming Lagos Leadership Summit, attracted members of the Federal Executive Council, Lagos State commissioners and aides, politicians from across the country, private sector stakeholders, and fellows of the Lateef Jakande Leadership Academy.
What They Are Saying
Speaking at the event attended by Nairametrics, Governor Sanwo-Olu expressed profound gratitude to Vice President, Senator Kashim Shettima, for hosting the Dialogue aimed at building the human infrastructure Nigeria urgently needs.
He explained that the Lagos leadership ecosystem is anchored on the Lateef Jakande Leadership Academy (LJLA), a cornerstone institution named after one of Lagos’ most transformative leaders.
He highlighted that through the state’s structured fellowship programme, young Nigerians receive real public sector immersion, cross-sector learning, policy exposure, mentorship from seasoned leaders, and opportunities to execute capstone projects addressing real societal challenges.
- “The results speak for themselves. Lagos youths contribute an estimated N4.5 trillion annually to our GDP, and 70% of new businesses in Lagos are youth-founded ventures.
- “These are not figures of potential; they are figures of performance. They show that when you invest in young people, they deliver,” he added.
He urged more states to adopt structured leadership development systems and called for greater collaboration between state and federal institutions, resulting in a shift in how resources are allocated.
- “If we can establish a national infrastructure fund for roads and bridges, then surely we can establish a national framework for building the human infrastructure that will design, manage, and sustain those roads and bridges for generations to come,” he added.
For his part, the Deputy Chief of Staff to the President, Senator Hassan Hadejia, maintained that ensuring relevant institutions remain responsive to youth development is essential.
- According to him, youth development must be addressed by equipping young individuals to navigate the complexities associated with leadership.
Earlier, the Executive Secretary of the Lateef Jakande Leadership Academy (LJLA), Ayisat Agbaje-Okunade, said the dialogue brought together stakeholders to brainstorm on building youth leadership for national transformation.
She advised authorities to foster alignment across institutions while building a national consensus on youth empowerment.
Backstory
In 2025, Nairametrics reported that Lagos State cemented its position as one of Africa’s economic powerhouses, with its Gross Domestic Product (GDP) reaching an estimated $259 billion based on purchasing power parity (PPP).
This was disclosed during the official launch of the Lagos Economic Development Update (LEDU) 2025.
The report revealed that the state’s GDP stood at $259.75 billion in 2023, while the Lagos economy recorded significant growth in the first half of 2024, expanding to N27.38 trillion — a substantial increase from N19.65 trillion in 2023.
What You Should Know
Nigeria’s internally generated revenue (IGR) analysis for 2024 revealed a widening gap between high-earning and low-earning states, according to a 2025 Nairametrics report.
While Lagos, Rivers, and the FCT continued to dominate subnational revenue generation, several states still struggled to raise meaningful internal revenue, relying largely on monthly allocations from the federal government to sustain their budgets.
According to data analyzed by Nairametrics, the 36 states and the FCT generated a combined N3.63 trillion in 2024, up from N2.43 trillion in 2023 — representing a growth of 49.69%.
