Lagos State Governor Babajide Sanwo-Olu has declared that the state has hit a record $259 billion GDP based on purchasing power parity.

He made this known in a statement through his social media handle on Wednesday, adding that Lagos also cemented its status as Africa’s second-largest city economy.

Sanwo-Olu also ascribed the achievement to the strength of its economy, residents’ resilience and the role played by the state as a hub of investment and opportunities.

He said that the state is not only growing in terms of its economic size, but it is also leading the economic transformation of Africa.

It read: “With a GDP of $259 billion based on purchasing power parity (PPP), we have cemented our place as Africa’s second-largest city economy.

“This milestone is more than a number; it reflects the strength of our economy, the resilience of our people, and our city’s role as a hub for investment, trade, and opportunity.

“Economic indices like PPP are crucial. They highlight real economic strength, competitiveness, and the cost-of-living advantage.

“From infrastructure to technology, tourism to manufacturing, we are driving sustainable growth.

“Lagos remains at the forefront of Africa’s economic transformation, and the best is yet to come,” the Governor concluded.