• Targets $1tr economy by 2052
• Says economic growth product of data, intentional governance

Lagos State Government has unveiled its projections for the Gross Domestic Product (GDP) to hit about N73.15 trillion in 2026.

This was revealed as the state officially launched the Lagos Economic Development Update (LEDU) 2026 yesterday, with aspirations of achieving a $1 trillion economy by 2052.

The governor, Babajide Sanwo-Olu, who officially unveiled the data document tagged “Lagos Economic Outlook 2026,” represented by the Deputy Governor, Kadiri Hazmat, said the LEDU platform had, over time, evolved beyond a mere policy document; it has become a compass, guiding the state’s economic direction, shaping decisions, and reinforcing its commitment to building a prosperous Lagos.

Sanwo-Olu attributed the fast-paced development and economic growth of Lagos State to what he described as ‘intentional governance and strategic planning’ driven by data mined by critical agencies of the state, particularly the Ministry of Economic Planning and Budget.

He said that despite global challenges, the state had remained steadfast—not because it is immune to challenges, but because it responds with clarity, discipline, and foresight, hallmarks of the T.H.E.M.E.S+ Agenda.

The governor said the theme of this year’s edition, “Consolidating Resilience, Advancing Competitiveness, Delivering Shared Prosperity,” speaks directly to its current economic moment, saying: “Consolidating resilience means fortifying the institutions, policies, and fiscal discipline that sustain our progress.

Commissioner for Economic Planning and Budget, Ope George, in his remark, said the state’s economy continued to expand, with Nominal GDP estimated at N62.66 trillion in 2025, adding that, “our diversified, service-driven structure, anchored in finance, trade, transport, communication, construction, and technology, remains a defining strength.”

Chairman, House Committee on Economic Planning and Budget, Olumoh Saad Lukman, said data gathering had really helped the state to pursue development initiatives that have positively impacted the populace, claiming that “Lagos State is resolving Nigeria’s problems.”

Permanent Secretary, Ministry of Economic Planning and Budget, Mrs Olayinka Ojo, said, “LEDU represents commitment to transparency, accountability, and data-driven governance.

Founder and Chief Consultant, Abiodun Adedipe and Associates, Prof. Abiodun Adedipe, said there is no doubt that Lagos has significantly transformed post-COVID and across every element of the T-H-E-M-E-S agenda.

Chief Executive Officer, Nigerian Economic Summit Group, Tayo Aduloju, says Lagos should ensure a steady regulation which can encourage Foreign Direct Investment, convert the state’s attractiveness to improved productivity and guarantee a fast and affordable transport system.