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IMF Predicts 4% Growth for Lagos

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With its Gross Domestic Product (GDP) currently standing at $136 billion, Lagos economy will record four per cent growth in 2019 while the national economy will grow by 2.8 per cent, the International Monetary Fund (IMF) has predicted.

The prediction is contained in an address the state governor, Mr. Akinwunmi Ambode, delivered at different meetings of the state’s foremost social clubs – Yoruba Tennis Club and Island – organised on Tuesday.

Among others, the meetings were attended by former former Commissioner for Works, Alhaji Femi Okunnu; Chairman, Yoruba Tennis Club, Prof. Adetokunbo Fabanwo; his Island Club counterpart, Mr. Olabanji Oladapo; and the governorship candidate of the All Progressives Congress (APC) in the state, Mr. Babajide Sanwo-Olu.

Citing the IMF’s recent statistics at the meetings, Ambode disclosed that Lagos, on a stand-alone basis in the year under reference, would achieve four per cent growth in its GDP, which according to him, is currently valued at $136 billion.

Unlike the national economy, Ambode pointed out that the social intervention initiatives of its administration would also go a long way to facilitate serious reduction in unemployment rate, which he said, suggested that the 2019 economic outlook was quite positive.

The governor said: “According to IMF, the Nigeria GDP will grow from 1.9 per cent in 2018 to 2.8 per cent in 2019. Lagos on a stand-alone basis will achieve over 4 per cent growth in GDP. By implication, this could be more if the congestion at the port and the negative effect this has on the economy is addressed.

“We expect that the high rate of unemployment will reduce with various social intervention programmes of the state and federal governments geared towards financial inclusion and liquidity support to micro, small and medium enterprises.”

Specifically, Ambode said the state’s 2019 budget would be dedicated towards the completion of ongoing infrastructural projects, creation of more jobs, supporting businesses to thrive, and strengthening the security architecture of the state.

According to him, “A lot of provision has been made for capital projects in the 2019 federal budget, some of which will directly impact the economy of our state and will support our growth plans.

“On our part, we will concentrate on completing existing infrastructural projects, creating more jobs, supporting our businesses to thrive and strengthening our security infrastructure.”

He recalled the activities of his administration in the last three and a half years, noting that it was particularly fulfilling that the state had made tremendous progress in all sectors of the economy and had become more globally competitive and strategically positioned among the major city-states worldwide.

“Three and a half years down the line, our state has progressed in all sectors of the economy. We have charted a clear path to the destination we have all dreamt about and desired.

“Today, our Lagos has become more globally competitive and strategically positioned among the major city-states of the world. Our state has become a top destination for business and tourism and it can only get better.

“One of the key promises I made at my inauguration on May 29, 2015 was to make our state work for all; to spread development from the already congested city centre to other parts of the state with massive infrastructure development. The thinking has been to make every part of the state economically livable.

“We have undertaken projects in all sectors of the economy with the sole intention of making life better for our people. All of these and similar initiatives were made possible by the personal taxes of high net worth residents of our state represented at this gathering which account for a significant percentage of our IGR.

“I want to use this opportunity to thank you so much for providing the resources, which have empowered us to make a positive difference in the lives of all citizens of our state,” Ambode explained.

The governor added that it was obvious that the state could not afford a break in trajectory of progressive governance at this point in time, thereby urging the residents of the state to continue to support the ruling party in the state.

He cited the recently launched Lagos Health Insurance Scheme Bill designed “to guarantee access to quality healthcare delivery for all Lagos residents. It is instructive that the bill for the scheme was signed into law by his immediate predecessor, Mr Babatunde Fashola, while the process for its implementation was kick-started by his administration”.

“This is the beauty in continuity. We have Sanwo-Olu’s assurances that the initiative will be sustained. Lagos State cannot afford the risk of a break in the trajectory of progressive governance at this crucial stage of development. The future is bright and assured. We must maintain continuity of progress in the state,” he said.

Ambode, therefore, commended the two foremost social clubs for their immense contribution to the development of the state. He equally urged them to continue to play key part in taking Lagos into a brighter and more prosperous future.

In their respective addresses, Chairman of Island Club, Oladapo and Fabamwo commended Ambode for the various infrastructure projects executed in the clubs, saying it was laudable that the governor kept his electoral promise.


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Firms Commit to Boost African Robotics Market

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AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.

According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.

The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.

AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.

The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.

“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.

Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.

Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.

The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.

Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”

 


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Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

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Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Subair: LIRS Won't Raid Accounts – Unless You've Lost Every Court Battle

Ayodele Subair

Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.

The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.

Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.

Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.

As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.

Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.

With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.


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NIGCOMSAT Adopts Government’s Performance System

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Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

NIGCOMSAT Adopts Government’s Performance System

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.

According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.

Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.

She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.

In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management,  expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.

She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.

The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.

The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:

• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service

• Service culture and workplace attitude in the Nigerian public sector

• Implementation of the Performance Management System in NIGCOMSAT

• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector

The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.

By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.


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