Lagos, Nigeria – The youth population of Lagos State contributes an estimated N4.5 trillion (approximately $3.21 billion USD) to the state’s Gross Domestic Product (GDP) each year.
This was announced by Governor Babajide Sanwo-Olu during the Abuja Dialogue, an event focused on youth leadership and national development. The figure highlights the significant economic impact of young people in Nigeria’s commercial capital.
During the event, Governor Sanwo-Olu also noted that 70 percent of new businesses founded in Lagos are started by young entrepreneurs. According to Okay News, these statistics underscore the success of state-led youth investment programs. The governor credited institutions like the Lateef Jakande Leadership Academy for providing young Nigerians with public sector experience, mentorship, and policy exposure, which helps drive this economic performance.
The dialogue, a collaboration between the Office of the Vice President and the Lagos State Government, aimed to explore youth leadership as a strategic national asset. Governor Sanwo-Olu called for greater collaboration between state and federal governments to build “human infrastructure,” urging other states to adopt similar structured leadership development programs for their youth.
This announcement comes as Lagos continues to solidify its position as one of Africa’s largest economic hubs, with a GDP estimated at $259 billion in 2023. The contribution from the state’s youth is a critical component of this economic strength, demonstrating the tangible returns on investing in the younger generation’s potential and business ventures.
