A renowned economist, Dr Ayo Teriba, has advised the Nigerian government to develop Lagos State to a global financial and smart centre.

He said this on Thursday at a one-day stakeholders’ forum titled, The Computation of the Lagos State Gross Domestic Product,’ organised by the Lagos State Ministry of Economic Planning and Budget.

Terbia whose presentation was titled, ‘Lagos State Economic outlook,’ advised that if Saudi Arabia, Dubia, Israel and Johannesburg could be global financial centres, there was nothing stopping Lagos from becoming one.

“Nigeria has no global financial centre. Lagos needs to live up to its billing as a global city. The world is interested in global financial centres, I see no reason Lagos cannot match up to becoming one and it has been existing before Dubia. Nigeria also has no smart centre, let’s raise our human capital quality and make Lagos a global smart centre index.”

He maintained that the GDP was no longer a relevant factor in measuring economic value, adding that it was important to concentrate on the input which produces the GDP.

Also speaking via zoom, Commissioner for Economic Planning and Budget, Mr Sam Egube, explained that the forum was to collaborating with organised private sector, formal and informal business associations.