Lagos Records N50bn Spending In December
Cash transactions in Lagos State increased by N5bn especially in the creative sector in the last three weeks.
The huge December 2017 spending in the state’s economy is unconnected with the peak in entertainment activities and influx of people from neighboring states and the diaspora on holiday visits.
Reports monitored by the Lagos State Government shows positive impact on the economy of the state at a time that corporate sponsorship of the creative sector has also recorded an appreciable growth.
The State’s Commissioner for Information and Strategy, Mr Steve Ayorinde, confirmed the development saying various reports, statistics and analyses monitored over the last few days captured an estimated additional spending of about N50bn in the creative entertainment sector alone within the State in the last 25days.
Mr Ayorinde hinted that this had reinforced the profile of the state as the hub of entertainment and tourism as well as the economic capital of West Africa.