Lagos, Nigeria, is one of Africa’s wealthiest cities, driven by its thriving economy and the many successful individuals who call it home.
According to express.co.uk, the land of Lagos is one of entrepreneurship and perseverance, where many people who start with very little completely have their lives turned around by setting up their own prosperous businesses, resulting in it becoming a major economic hub in the continent.
Africa’s richest man, Aliko Dangote’s business is also based in Nigeria, but to emphasise the prosperity of Africa’s largest city, it’s known to make “millionaires like a manufacturer make shoes”, and according to Henley & Partners’ Africa Wealth Report, Lagos is home to a huge 4,200 millionaires.
READ: News: Lagos Port Receives First Direct Ship from China in Record 27 Days
There are many reasons why this impressive city has been able to centre itself as a leading business capital. Every serious business has its headquarters or at least a major branch in Lagos. Headquarters of all the major financial institutions from banks to insurance companies are in Lagos, reports Business Day.
However, it’s not just the big and already established companies—it’s also the smaller start-up ones, and Lagos has the highest concentration of them in the whole of Nigeria, with around an 8% share of over 40 million micro, small, and medium-sized enterprises (MSMEs).
Speaking to Business Day, Zion Orubebe shared the story of how he left his home in Rivers State and moved to Lagos in 2015 with only around 3,000 naira, which was around £12 at the time.
