Lagos State Government of Nigeria

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Lagos State Government of Nigeria
  • Lagos State Government of Nigeria
  • Year : Jun 2021
3 Tokens
USD 300.00
Summary

Lagos State’s business profile is supported by its status as the country’s economic and commercial centre, accounting for over 25% of Nigeria’s total GDP and more than 50% of non-oil GDP. The State is also a critical commercial hub for broader West African region, which ensures that it continuously attracts a diverse range of national and international businesses, as well as a highly skilled workforce. Nevertheless, Lagos is constrained by substantial social development issues, with a large portion of its population living in or close to the poverty line and large areas of informal settlements.

Additional Information

The Positive Outlook reflects the continued strong growth in IGR, despite the setbacks occasioned by the COVID-19 pandemic. A rating uplift is dependent on the continued growth in IGR such that there are growing resources available to meet ongoing operational requirements and the significant capex on infrastructure that is required. A reduction in debt, such that the net debt to income falls below 100% and interest coverage improves would also be positively viewed.

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