A new report has ranked Lagos ahead of Abuja fourth among the 10 wealthiest cities in Africa with a cumulative wealth of $108 billion.
The report said Lagos is still gateway for 80 percent of Nigeria’s exports and one of the world’s fastest-growing cities.
The report published on property news outlet, africapropertynews.com was based on the The AfrAsia Bank Africa Wealth Report 2018.
The report showed that South Africa is still the main concentration of wealth in Africa.
South Africa was placed as the most developed nation on the continent, with four of Africa’s 10 richest cities.
Johannesburg South Africa’s commercial capital valued at $276 billion was named Africa’s richest.
It came first in the ranking followed by Cape Town valued at $155 billion and described as the city with the highest prime residential rates in Africa.
Cairo (Egypt) with $140 billion value was ranked third and then followed by Lagos.
Other cities that made the list include: Durban (South Africa) $55 billion, Nairobi (Kenya) $54 billion and Luanda (Angola) $49 billion.
Also named at 8th position was Pretoria (South Africa) $48 billion, Casablanca (Morocco) $42 billion and Accra (Ghana) $38 billion at 10th position. Daily Trust
