Lagos’ quest for 24-hour economy 

Many cities across the world, over the past two decades, have deliberately put in place strategies that would enable them run a 24-hour economy. Indeed, most major cities of the world today are known to operate a 24-hour economy. In these cities, socio-economic activities take place round the clock unhindered by nightfall.

Unfortunately, Lagos, Nigeria’s commercial capital and largest economy, which aspires to become Africa’s model megacity, is yet to find a place in the league of those city-states that operate effective and efficient 24/7 economy. It is for this reason that the state government is working assiduously on strategies to ensure that the state’s economy runs 24 hours nonstop, is more diversified, better connected, inviting and safer for investment.

One recent effort in this direction is the move by the state government to undertake massive illumination of the state under a street-lighting project. This came through a directive by Governor Akinwunmi Ambode to the Ministry of Energy and Mineral Resources working hands-in-glove with Public Works Corporation.

The street-lighting project, which is expected to further promote night economy and enhance the security of lives and property in Lagos State, according to a government official, would be delivered in phases, starting with Ikorodu to Lagos Island, Ojodu Berger to Lagos Island, in addition to the 67 communities in Ibeju-Lekki. All boundary communities between Lagos and Ogun, including federal and state roads, are to benefit from the project expected to be delivered in December this year. The streetlights are to be powered majorly from the

Independent Power Projects (IPPs) built by the immediate past administration of Babatunde Fashola.
“Berger to Lagos, Ikorodu to Lagos streetlight installation is ongoing. We have developed agreement to ensure safe and reliable power. We would be illuminating from Berger to Lagos, Ikorodu to Lagos. We are working with those contractors that are versed on the job and everything would be done latest by December,” the government official said.

We commend this move by the Lagos State government, alongside other steps taken by the Ambode administration to strengthen the Lagos economy, and urge the government to extend the project to other parts of the state. In mega cities around the world, particularly those in developed climes, nightlife is a boost to the economy. When an economy is able to run 24 hours aided by reliable power supply and better security, businesses can comfortably operate far into the night. The impact of this on the GDP can only be imagined.

In like manner, we believe that a 24-hour Lagos economy would further facilitate the realisation of Governor Ambode’s vision of making Lagos State Africa’s model megacity and global economic and financial hub. We also think that when the night economy kicks in, the hospitality/entertainment sector – hotels, restaurants, pubs, nightclubs, cinemas, casinos, concert halls, theatres, etc – which is already contributing immensely to the Lagos economy, will be the greatest beneficiary, particularly because highflying business executives and others who have worked hard in the day often love to unwind at night.