Former governor of Lagos State and presidential hopeful Bola Tinubu was recently a guest at the Summit House, the head office of Nigerian Economic Summit Group (NESG). He made a number numbers of claims which the News Chronicle has fact check.
CLAIM 1: Lagos State is the fifth largest economy in Africa
VERDICT: FALSE
There is no data or sufficient information to establish that Lagos State is the fifth largest economy in Africa.
Data released by the world bank shows that Nigeria is the biggest economy in Africa, with a $440 billion GDP. South Africa’s GDP stood at $419.9 billion; Egypt’s $404 billion; Algeria’s $167.9; Morocco’s $142.8.
CLAIM 2: Lagos State is generating over 50 billion a month.
VERDICT: TRUE
Latest data from the National Bureau of Statistics (NBS) stated that in 2021 Lagos state generated N753 billion in IGR. This means Lagos State generated an average of N56 billion every month in 2021.
