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Nigeria’s transport network has expanded in recent years to accommodate a growing population. The transport and storage sector was valued at N2.6trn ($6.9bn) in current basic prices in 2020, down from N3trn ($8bn) in 2019, according to the National Bureau of Statistics (NBS). This was reflected in a lower contribution to GDP, at 1.8% in the fourth quarter of 2020, down from 2.1% during the same period the previous year but higher than the 0.8% recorded in the third quarter of 2020. One of the most significant challenges facing the sector is meeting the needs of both large coastal cities and rural inland communities in order to fully unlock the country’s economic potential. This is especially the case with mining and agriculture, both of which are expected to benefit from two large-scale projects: the Lekki Port in Lagos and the Kano-Maradi rail line in the north of the country.
Lagos or Lagos City is the most populous city in Nigeria, with an estimated population of 21 million in 2015. Lagos is the most populous urban area in Africa. Lagos was the national capital of Nigeria until December 1991 following the government's decision to move their capital to Abuja in the centre of the country. Lagos is a major African financial centre and is the economic hub of Lagos State and Nigeria at large. The city has a significant influence on commerce, entertainment, technology, education, politics, tourism, art, and fashion in Africa. Lagos is also among the top ten of the world's fastest-growing cities and urban areas. The megacity has the fourth-highest GDP in Africa and houses one of the largest and busiest seaports on the continent. Due to the large urban population and port traffic volumes, Lagos is classified as a Medium-Port Megacity.
Lagos State is a state in southwestern Nigeria. Of the 36 states, it is both the most populous and smallest in area. Bounded to the south by the Bight of Benin and to the west by the international border with Benin for ten km, Lagos State borders Ogun State to the north for about 283 km, making it the only Nigerian state to border only one other state. Named for the city of Lagos—the most populous city in Africa—the state was formed from the Western Region and the former Federal Capital Territory on 27 May 1967.
Lagos Island is the principal and central Local Government Area (LGA) in Lagos, Nigeria, it was the capital of Lagos State until 1957. It is part of the Lagos Division. As of the preliminary 2006 Nigerian census, the LGA had a population of 209,437 in an area of 8.7 km2. The LGA only covers the western half of Lagos Island; the eastern half is simply referred to as Lagos Island East LCDA.
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Lagos is the largest city of the West-African country of Nigeria, and its former capital; it is the third largest city in Africa in terms of population with about 15.3 million people. It is also the 4th largest economy in Africa.
Tourism in Nigeria centers largely on events, due to the country's ample amount of ethnic groups, but also includes rain forests, savannah, waterfalls, and other natural attractions. Tourists spent US$2.6 billion in Nigeria in 2015. This dropped to US$1.5 billion in 2017.
The Red Dragon Centre is an indoor entertainment complex in southern Cardiff, the capital of Wales. It was originally known as the Atlantic Wharf Leisure Village when it opened in August 1997. The complex features restaurants, cafés, a Hollywood Bowl bowling alley with arcade amusements, an Odeon multiplex cinema, a casino and an on-site car park.
Responsibility of water supply in Nigeria is shared between three (3) levels of government – federal, state and local. The federal government is in charge of water resources management; state governments have the primary responsibility for urban water supply; and local governments together with communities are responsible for rural water supply. The responsibility for sanitation is not clearly defined.
Eko Atlantic, officially Nigeria International Commerce city, also known as Eko Atlantic City, or the initials E.A.C. and E.A., is a planned city of Lagos State, Nigeria, being constructed on land reclaimed from the Atlantic Ocean. Upon completion, the new peninsula is anticipating at least 250,000 residents and a daily flow of 150,000 commuters. The development is also designed to help in stopping the erosion of Lagos city's coastline.
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Lekki is a city in Lagos State, Nigeria. It is located to the south-east of Lagos city. Lekki is a naturally formed peninsula, adjoining to its west Victoria Island and Ikoyi districts of Lagos, with the Atlantic Ocean to its south, Lagos Lagoon to the north, and Lekki Lagoon to its east; however, the city's southeast, which ends around the western edge of Refuge Island, adjoins the eastern part of Ibeju-Lekki LGA.
The Azura-Edo Power Station is a natural gas-powered open cycle electricity generation plant, with a current operational capacity of 461 megawatts, located in Benin City in Nigeria. This is the first phase of a three-phase construction project of a combined cycle gas plant with planned capacity of 1,500 megawatts.
Africa Finance Corporation (AFC) is a pan-African Multilateral Development Financial Institution established in 2007 by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment. The Corporation bridges the infrastructure investment gap through the provision of debt and equity finance, project development, technical and financial advisory services.
The Nigerian Capital Development Fund (NCDF) is an independent social investment financial intermediary institution. This hybrid organization was set up mainly to address the challenges of poverty in low income rural communities in Nigeria. The institution mobilizes capital from the public and private sectors to invest in projects, businesses and social enterprises with the intention to generate good financial returns and measurable positive social-environmental impact, as well as act as a champion to help increase awareness and confidence on the advantages of impact investing.
Idahosa "Hosa" Wells Okunbo was a Nigerian business magnate, investor, philanthropist, and trained commercial pilot. He served as chairman and director on numerous company boards in Nigeria, spanning multiple business sectors such as the agro-allied, petroleum, telecommunications, power, real estate, and banking industries.
Harry Tomi Davies is a Nigerian British investor, speaker, author, entrepreneur, philanthropist and advisor to technology companies. He is the chief executive officer of TVCLabs, a technology business accelerator based in Lagos, and the founding president of the African Business Angel Network (ABAN), a network of individuals and organisations who invest in and mentor African startups. He has a wealth of experience in IT, consulting, and innovation, and has worked with global brands such as IBM, Marks & Spencer, Ernst & Young, and Sapient. He is also a public speaker who inspires audiences with his insights, stories, and strategies for driving business success in Africa.
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The Lagos Food Security Systems and Central Logistics Park is a logistics centre under construction in Ketu-Ereyun, between Epe and Ikorodu. When completed, it will be the largest food logistics centre in sub-Saharan Africa.
References
- 1 2 Rubin, Hannah (26 February 2024). "Africa's First Purpose Built Entertainment Arena Set To Open In Lagos, Nigeria". Live Nation Entertainment. Retrieved 21 March 2024.
- ↑ "LAGOS ARENA". World Architecture Community. Retrieved 21 March 2024.
- ↑ Agency, Bird Story (27 February 2024). "New Lagos arena marks growing investment in sports and entertainment sectors - The African Mirror" . Retrieved 21 March 2024.
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