Lagos, Nigeria, has proven to be the economic hub of the country, prospering in many facets over other states. Asides from being called the entertainment hub. Lagos is also known as the tech hub, economic hub, industrial hub, commercial hub, investment hub, business hub, and many more. The state has despite the different changes in governance since its first democratic leadership, stood the test of time and excelled far above every other state. Recording many successes such as infrastructures, generated revenues that other states could only wish for.
Accounting for over 60% of both industrial and commercial activities in the country and being the only state that is non-dependent on federal subvention. Generating its own revenue to the tune of over N753 billion, a mark which is more than an x5 of what the next IGR best-performing state is generating. This is why the state boasts of a population that is over the total population of some countries. With over 15 million people living in the state, Lagos is one of the most populated cities in Africa. This is due to so many factors which will be outlined below. These factors when combined together have made Lagos the most envious state in the country, prospering over the other 35 states.
Though it might not be the most beautiful, most peaceful, most secure, and most livable of all states in Nigeria. But being very industrious have made Lagos the most sought-after state even with the bad living condition. Living in Lagos can according to Lagosians be likened to living close to hell, but it offers endless opportunities to its residents. This has made them overlook the
stress involved. Let’s take a look at why this is so.
Factors That Contribute To What Made Lagos, Nigeria Industrialized
There are a variety of factors that contribute to the industrialization of Lagos, Nigeria. Some of these factors include governance, the Apapa Port Complex, our population, and the economic opportunities in Nigeria.
Governance
One important factor Lagos can boast of is the quality of governance it has enjoyed. Every past governor of the state had contributed to the success enjoyed by the state today. Lagos has been blessed with visionary leaders who had at different times of their administration designed various long-term and short-term strategic frameworks.
All of which aim to make Lagos a megacity. These frameworks include the 2005-2007 Lagos State Economic Empowerment and Development Strategy (LASEEDS). The 2009 Strategic Management Framework, the 2009 Vision 20:2020, and the 2003-2007 10-Points Agenda. All of these futuristic plans and goals are only a testament to the deliberate and intentional act of these past leaders to make Lagos far ahead of the others.
The Apapa Port Complex
Also known as Premiere Port, is one of the biggest economic assets that can be established in a state in 1913 but only started operations in 1921. This was after the construction of the four deepwater wharves. Though not the only port in the country, the Apapa Port is the oldest, largest, safest, cheapest, and easiest port to clear cargo. Nigeria is a country that imports most of its used commodities. Importation of various commodities such as consumer goods, industrial supplies, fuel, capital goods, scientific, and technological equipment from different countries is a necessity. And every day, the Apapa Port receives a number of vessels carrying these commodities.
It is recorded that yearly, the Apapa Port receives about 1000 vessels that carry 5,700 tonnes of cargo thereby generating over N800bn in the past year. Asides from the revenue it generates, one of the other benefits of the port to the state is that it attracts traders, business owners, manufacturers, and sellers from all parts of the country to the state as imported goods and raw materials are likely to come through the port.
This reduces the cost of production for both manufacturers and business owners whose materials for manufacturing their products or delivering their services are imported.
The Population of Lagos, Nigeria
Of the numerous benefits enjoyed by Lagos, its population is another that other states can only wish for. With a population of over 15 million residents, Lagos sits comfortably as the most populated city in Africa. The increase in developmental projects in the state has attracted ambitious citizens in their numbers to the state. Thereby causing some of the best
professionals, skilled and unskilled workers to flood into the state in search of opportunities.
Economic Opportunities
Like the popular economic saying “our wants are insatiable”. Everyone is always on the lookout for better opportunities such as a good or better job, higher pay, and better living condition. Lagos is that state where it is said that there is hope for a common man who isn’t lazy. Unlike other states with limited opportunities, Lagos offers anyone ready to work hard an endless bit of opportunities.
There had been thousands of success stories from strangers who had come from the northern, eastern, and western parts of the country to Lagos with just their bags and a heart full of determination. Lagos has been a greener pasture to those who couldn’t afford a visa and ticket. With so many multinational companies establishing their headquarters in Lagos; small, medium, and large scale enterprises, a large population that promises good business patronage, and many more, nowhere else will provide better opportunities than Lagos.
Summary
The above-listed factors strongly contribute to what makes Lagos the most industrialized state in Nigeria. Thereby making the state the most sought after by many who seek opportunities and greener pastures. This isn’t the best seen of Lagos as the state is still building some social infrastructures which will definitely help to achieve its aim of being a megacity that is safe, secure, efficient, and conducive for both business and residential activities.
