Lagos number 72 in World’s Wealthiest Cities 2023

Lagos has been placed in 72nd position in new list of the world’s wealthiest cities in 2023, with New York, Japan’s Tokyo, and Silicon Valley’s Bay Area claiming the first, second, and third spots, respectively.

The list, compiled by London-based consultancy Henley & Partners, ranked the cities by taking into account the number of resident millionaires (rounded off to the neared 1o0) as of December 31, 2022.

It was dominated by cities in the United States and China — Lagos is the only Nigerian city that got featured in the list, with South Africa’s Johannesburg ranked the wealthiest city in Africa.

The World’s Wealthiest Cities Report 2023 covered 97 cities across the world, using data from wealth intelligence firm, New World Wealth, which tracks the movements and spending habits of high-net-worth individuals with the work titles like Founder, Chairperson, CEO, and Director.

It also considered the number of highly-priced homes in the area, said Henley & Partners, on their website.