LAG
S
AFRICA’S FASTEST GROWING GLOBAL CITY
Why Lagos
Contributes more than 30% of Nigeria GDP
Lagos History
Lagos State was created on May 27, 1967 and became the federal capital of Nigeria on April...
Economy & Population
Business Climate
Environment
Generates 11, 000 metric tonnes of waste daily
Government plans to progressively increase waste processing capacity from 18% in 2011 to 60% in 2025
Over 50% of the waste generated in the state (biodegradable waste) can be used for compositing
Estimate to provide 500, 000 jobs
Largest producer of compost in Africa converting 600 tonnes of waste into compost
Projected popeulation to be over 30million in 2025 with 0.5kg-0.65kg of waste generated/person/day
Health
Non-health insurance user
Informal sector is 63% and formal sector is 15% (2013)
Health Penetration rate
Increased from 0.43% in 2005 to about 3.46% in 2014
Private health workers
Doctors-1,342 Nurses-2,134, Pharmacists-43
Infant mortality rate
75/1,000 life births
Public health workers
Doctors-1,265 Nurses-3,372, Pharmacists-209
Housing
5 million units
Housing Deficit
Over 1,500 people/ day
Av. Population Growth
1 - 13 malls within 9 years
Growth of malls
72 houses built to meet demand for low cost housing
Recent development
20% growth / annum
20% growth / annum
About 10,000 / annum
Influx of Expatriates
2.5% of monthly wage
Contribution to mortgage
Transportation
Investing in Bus Rapid Transit
Average investment required $2 million - $12 million
Payback period 5 years
ROl 12%-22%
Investing in Rail Services
Average investment required $70 million - $100 million
Payback period 5 years
ROl 30%-35%
Tourism and culture
42%
Revenue
ICT
42%
Revenue
Power and infrastructure
2,000MW
Power supply
500MJ/inhabitant
Electricity consumption per capital
20%
Energy lost through transmission
10,000MW
Power demand
40%
Proportion of households with access to electricity
48MW(2015)
Recent improvements
Oil and Gas
800,000MT
Homes
400,000MT
Agro Processing
Education
1,705
No. of Pry & Sec sch (state)
1M
No. of students(state)
28,390
No. of teachers(state)
91,000
Technical and Vocational Education and Training
15,003
No. of Pry & Sec sch (private)
1.3M
No. of students(private)
118,000
No. of teachers(private)
4M
Estimated target market size in lagos
Startup Stories
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