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Lagos partners BOI, Sterling Bank to boost MSMEs

The Lagos State Government, in collaboration with the Bank of Industry and Sterling Bank, has launched a new initiative to support Micro, Small, and Medium Enterprises. In a statement on Wednesday, this partnership, formalized through a Memorandum of Understanding, will offer MSMEs access to single-digit loans at a 9% interest rate, aimed at fostering business […]

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Lagos issues 100+ contravention notices for illegal land reclamation

The Lagos State Government, through the Ministry of Waterfront Infrastructure Development, has served over 100 contravention notices to individuals and developers engaged in unauthorized land reclamation in the Ikota area of Lekki. This enforcement exercise forms part of ongoing efforts to safeguard the state’s waterfront zones and enforce compliance with physical planning and environmental regulations. […]

Lagos' GDP hits $159bn, becomes Africa's second-largest city economy
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Lagos’ GDP hits $159bn, becomes Africa’s second-largest city economy

Lagos State has solidified its status as one of Africa’s leading economic powerhouses, with its Gross Domestic Product reaching an impressive $259 billion based on purchasing power parity. This achievement positions Lagos as the continent’s second-largest city economy, following Cairo, Egypt. The announcement was made during the official launch of the Lagos Economic Development Update […]

C'River's 20km Road to boost economic growth - Lafarge
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Lagos, Lafarge partner to convert waste into fuel

The Lagos State Government, through the Ministry of Environment and Water Resources, has entered into a Memorandum of Understanding with Lafarge Africa PLC to utilize non-recyclable combustible waste as an alternative fuel. Under the agreement, Lafarge Africa will collect and process non-recyclable waste from various companies and dumpsites across the state, transporting it to their […]

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Lagos agro-hub generates N2.495bn in first year

The Lagos State Government announced that the Mushin Fresh Food Agro-Hub recorded N2.495 billion in transactions during its first year, with contributions from 348 vendors. This was disclosed in a statement by the State Commissioner for Agriculture and Food System, Ms. Abisola Olusanya, according to NAN. The food hub attracted 75,000 visitors who engaged in […]

FG targets 6500 megawatts power generation in six months
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FG transfers Lagos electricity market regulation to LASERC

The Federal Government, via the Nigerian Electricity Regulatory Commission, has transferred the regulatory responsibility for the electricity market in Lagos State to the newly established Lagos State Electricity Regulatory Commission. This was disclosed in a statement by NERC on X (formerly Twitter) on Thursday. This transfer of regulatory oversight follows the amended provisions of the Nigerian […]

US Consulate introduces new two-visit requirements for visa applicants
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US Consulate introduces new two-visit requirements for visa applicants

Immigrant visa applicants with interviews scheduled at the U.S. Consulate in Lagos will now be required to visit the consulate twice as part of a new procedure aimed at streamlining the visa process and reducing delays. The U.S. Department of State’s Consular Affairs department announced that the change, effective for applicants with interviews after January […]

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Lagos, EU-Africa sign EoI to enhance technology transfer, advance SDGs

The Lagos State Government has signed an Expression of Interest with the EU-Africa Chamber of Commerce to advance sustainable development. The partnership will focus on unlocking climate financing, promoting technology transfer, and supporting green economic growth. This initiative aligns with Governor Babajide Sanwo-Olu’s vision of making Lagos a sustainable and resilient mega city. The EoI […]

UK launches Africa's largest visa application centre in Lagos
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UK launches Africa’s largest visa application centre in Lagos

The United Kingdom has officially opened its largest Visa Application Centre in Africa, located in Ikeja, Lagos. This new facility, which is operated in partnership with VFS Global, represents a significant step in enhancing visa application services for Nigerian residents. The new Ikeja centre, along with existing centres in Abuja and Victoria Island, Lagos, began […]

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Lagos startup accelerator Techstars shuts down after two years

Alex Odense Two years after its highly anticipated launch, the ARM Labs Lagos Techstars Accelerator, known as Techstars Lagos, has closed its doors, abruptly ending its third cohort, which began in March 2024. The decision was confirmed by Matthew Grossman, Techstars’ global Chief Brand and Communications Officer, in an email. “Techstars’ partnership with ARM Labs […]

Lagos unveils plan to tax remote workers to generate N200bn
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Lagos unveils plan to tax remote workers to generate N200bn

The Lagos State government has launched an ambitious plan to generate an additional N200 billion annually by broadening its income tax base and employing advanced digital solutions to enhance revenue collection. This initiative is set to be a central topic at the upcoming EKO Revenue Plus Summit, scheduled for September 25-26, 2024, under the theme […]

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