Economic and social Economic and Industrial Setting Since the days of the Portuguese Slave Traders and particularly with the construction of the Lagos ports and railways, Lagos has emerged pre -eminently as the economic, financial, commercial and industrial nerve-centre of Nigeria. It contains over 60% of all industrial establishments in the country. Its ports handle the lion’s share of all export and import trades. Lagos Island has become the financial and commercial capital of West Africa with all the leading banks – commercial, merchant and investment – having their headquarters there. The phenomenal growth in commerce has turned the greater part of a once residential Island into a huge market serving the whole of Nigeria in respect of imports and locally manufactured goods. The concentration of Federal Government establishments plus the banks the commercial houses, the markets and professional services on the Island, while a majority of the population live outside it, has led to a consequential traffic and transportation flow pattern that has defied a solution in the last two decades. Just as Lagos used to be known for its dirty environment, it also had an international reputation for its incessant traffic jams particularly on the north-south corridors. Other problems which arise from this setting including the inadequacy of market outlets, problems associated with the management of commercial and industrial locations, of industrial pollution and effluence and heavy pressure on the economic infrastructures and utilities. Read from back..........
Posted on: Mon, 24 Jun 2013 10:26:22 +0000
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