Lagos is Nigeria’s most populous city and the commercial capital of Nigeria with a population estimate of 21 million residents. The return to democratic governance in 1999 ushered in a period of uninterrupted economic reforms that have led to gradual economic growth in the Lagos municipality.
From the historical past, Lagos has continuously occupied a strategic place of importance in both local and international trades. Lagos is the port city. The Lagos State Government and its indigenes are proud of the coastal city heritage and have a corporate resolve to isolate Lagos from the economic apathy currently beclouding some states of the Nigerian Federation resulting from terrorism, kidnaps and other crisis of confidence arising from inherent failing security system in those states. This naturally places Lagos at an advantage because of its perceived stability. Lagosians too are aware that the measure of safety and stability in its environs is its greatest asset; hence both citizens and government are focused at preserving Lagos as a choice investment and commercial location.
Furthermore, all the biggest local and international investors made Lagos their business headquarters and base. They are supportive of every effort by the Lagos Government to maintain Lagos as a leading investment base in Africa. For instance, both local and international corporations contribute to the Lagos State Security Trust Fund, which is utilised to provide better security apparatus for security operatives in the State. This factor with the cooperation of private citizens in volunteering information has kept terrorism at bay in Lagos environs.
The Lagos state government equally seems to have realised that the Nigerian constitution does not limit the potential growth of each of the state component making up the Nigerian Federation and each state can drive its own economic growth. Hence, the current administration is taking some giant steps to metamorphose Lagos into a truly 21st century cosmopolitan city through the following:
- Infrastructure development spanning across the State, for example the 10 Lane dual carriage Lagos-Badagry Highway and the construction of metro lines across the metropolis, various road renovations and concessions, new link bridges, coastal roads, ferry services and the new Lagos International Airport.
- Taking control of security infrastructure and apparatus within the State beyond what the Federal Government provides in terms of acquisition of security equipment like Armoured Personnel Carriers, various vehicles and other logistic support for the Nigeria Police in Lagos, including initiation of military liaison to enhance security within the State.
- Government driven development to boost tourism, like the Atlantic City being the largest project of its type in the whole world, the development of standard golf courses in the Lekki area, the Lekki Free Trade Zone and other coastal developments. Lagos has the potential to evolve into a development and tourist success akin to the Dubai concept within the next five to ten years.
- The State is the haven of foreign and local investors, Lagos is the commercial and investment nerve-centre of Nigeria, spearheading foreign trade and investment both the oil and the non-oil sector. Any state moving towards such a boom is bound to experience housing sector needs, which is an opportunity for property investment.
Lagos is preparing for the future, shouldn’t you position yourself strategically? This is the right time to key into viable housing and estate projects and secure for yourself a viable future.
If you own a piece of Lagos, you own a viable future.