Adenike Alao
Lagos, Nigeria’s economic hub, is struggling with its rapid growth. Estimated to have 17.2 million residents by 2025, according to InternetGeography, the city faces a severe housing shortage of 3.4 million units, causing rent increases of up to 80% in some areas. Its population, growing by about 600,000 annually, has transformed what was once a modest city of fewer than one million in 1960 into a large megacity. Lagos reached four million residents by 1990 and eight million by 2015. Today, the metropolitan area probably exceeds 20 million, high
Lagos, Nigeria’s economic hub, is struggling with its rapid growth. Estimated to have 17.2 million residents by 2025, according to InternetGeography, the city faces a severe housing shortage of 3.4 million units, causing rent increases of up to 80% in some areas. Its population, growing by about 600,000 annually, has transformed what was once a modest city of fewer than one million in 1960 into a large megacity. Lagos reached four million residents by 1990 and eight million by 2015. Today, the metropolitan area probably exceeds 20 million, high
Source: Businessday.ng | Read the Full Story…
