page_title: Lagos
section_title: Economy
hierarchical_section_title: Lagos / Economy
caption_attribution_description: This is an image of "African people at work" from Nigeria
context_page_description: Lagos is the most populous city in Nigeria and the African continent. Lagos is a major financial centre for all of Africa and is the economic hub of Lagos State. The megacity has the fourth-highest GDP in Africa and houses one of the largest and busiest seaports on the continent. It is one of the fastest growing cities in the world.
  Lagos initially emerged as a home to the Awori subgroup of the Yoruba of West Africa and later emerged as a port city that originated on a collection of islands, which are contained in the present day Local Government Areas of Lagos Island, Eti-Osa, Amuwo-Odofin and Apapa. The islands are separated by creeks, fringing the southwest mouth of Lagos Lagoon, while being protected from the Atlantic Ocean by barrier islands and long sand spits such as Bar Beach, which stretch up to 100 km east and west of the mouth. Due to rapid urbanization, the city expanded to the west of the lagoon to include areas in the present day Lagos Mainland, Ajeromi-Ifelodun and Surulere. This led to the classification of Lagos into two main areas: the Island, which was the initial city of Lagos, before it expanded into the area known as the Mainland.
context_section_description: The city of Lagos is a major economic focal point in Nigeria, generating around 10% of the country's GDP. Most commercial and financial business is carried out in the central business district situated on the island. This is also where most of the country's commercial banks, financial institutions and major corporations are headquartered. Lagos is also the major Information Communications and Telecommunications (ICT) hub of West Africa and potentially, the biggest ICT market in the continent. Lagos is developing a 24-hour economy and has also been ranked as one of the most expensive cities in the world. In some parts of Lagos, residents have one of the highest standards of living in Nigeria and in Africa. At the same time, a sizable proportion of the residents live in slums without access to piped water and sanitation.
  The Port of Lagos is Nigeria's leading port and one of the largest and busiest in Africa. It is administered by the Nigerian Ports Authority and it is split into three main sections: Lagos port, in the main channel next to Lagos Island, Apapa Port (site of the container terminal) and Tin Can Port, both located in Badagry Creek, which flows into Lagos Harbour from the west. The port features a railhead. The port has seen growing amounts of crude oil exported, with export figures rising between 1997 and 2000. Oil and petroleum products provide 14% of GDP and 90% of foreign exchange earnings in Nigeria as a whole.
caption: Apapa port
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