Lagos unveils seven economic priorities for 2027, targets jobs, growth

The Lagos State Government has unveiled seven strategic economic priorities for 2027, focusing on fiscal sustainability, infrastructure development, job creation, private-sector growth, food security and climate resilience.

The priorities were announced by the Commissioner for Economic Planning and Budget, Ope George, at the fourth Lagos Economic Roundtable held at Protea Hotel, Ikeja. The event brought together policymakers, economic experts, private-sector leaders and academics to discuss strategies for sustainable growth.

George said the state’s economic direction for 2027 would focus on translating economic growth into improved living conditions for residents while strengthening Lagos’ competitiveness and resilience.

The seven priorities are fiscal sustainability and revenue mobilisation; infrastructure development and economic competitiveness; employment generation and human capital development; economic diversification and private-sector development; food security and resilient food systems; climate resilience and the green economy; and data-driven governance.

On the priorities, George stressed the need to improve internally generated revenue, ensure efficient public spending, expand infrastructure through innovative financing and public-private partnerships, and create decent jobs, particularly for young people and women. He also highlighted the importance of supporting businesses and strengthening the informal sector.

He identified transportation, energy, water, housing, digital connectivity and logistics as critical to economic growth, while noting that stronger food supply chains and climate-conscious planning were necessary to address rising food costs, flooding and other environmental challenges.

Earlier, the permanent secretary of the ministry, Olayinka Modupe Ojo, said the Lagos Economic Outlook initiative was established about five years ago to provide research and economic projections that would guide government policies. She added that Lagos’ emergence as Nigeria’s top-performing state in the 2025 State of States Performance Ranking reflected progress in revenue generation, fiscal sustainability and human capital development.

George also urged the government to strengthen data-driven governance and prepare for emerging risks, including inflation, geopolitical tensions, climate-related shocks and technological disruptions. “We must move beyond reactive responses to economic shocks by embracing scenario-based planning and strengthening our capacity to anticipate, adapt and recover,” he said.