Lagos Ranked Among Top Three African Cities
Lagos is one of the top cities in Africa? Of course it is, but according to Paul Chiama writing for All Africa, the city’s potential for inclusive growth is what makes it stand out from the crowd.
Lagos city center
Lagos, the commercial capital of Nigeria, has been ranked among the top three large African cities with the highest potential for inclusive growth, according to the 2015 MasterCard African Cities Growth Index (ACGI).
Maputo, the capital of Mozambique, and Casablanca in Morocco emerged first and second respectively.
Now in its third year, the ACGI maps African cities’ economic outlook according to their potential for inclusive urbanisation. The 74 cities were analysed and grouped into three categories by population size: large (over one million), medium (between 500,000 and one million) and small (under 500,000).
READ ALSO: Lagos Can Become An Industrial Powerhouse In 10 Years
Twenty five economic and social inclusion indicators rank cities’ level of inclusive urbanisation, forecasting potential for inclusive growth.
Once ranked, the cities fall into one of four bands describing their inclusive growth potential – high, medium-high, medium-low or low.
Professor George Angelopulo of the University of South Africa, an author of the 2015 ACGI, explained:
“The ACGI assesses the potential of Africa’s cities to increase the well-being of their urban populations.
“As inclusive urbanisation is a prerequisite for inclusive growth, the study presents a measure of each city’s potential as a place to live, work and do business in the coming years.”
In Lagos, the third-ranked large city which also has medium-high growth potential, the increase in the percentage of middle class households is significant due to the number of citizens that the increase represents and the effect they will have on future consumption in the city, as increases in income levels leads to increased consumer spending.
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