Lagos and Ogun States Draw N1.74 Trillion in Investments

Between 2024 and 2025, Lagos and Ogun states attracted N1.74 trillion ($1.29 billion) in industrial investments, representing 87.32% of Nigeria's total manufacturing investments of N1.99 trillion. The remaining 34 states shared only N252.23 billion.

This data, sourced from the Manufacturers Association of Nigeria (MAN), underscores the concentration of industrial activity in Nigeria's south-western corridor. Muda Yusuf, the chief executive of the Centre for the Promotion of Private Enterprise, noted that Lagos's commercial appeal extends beyond Nigeria, primarily due to its strategic location near the Apapa, Tin Can Island, and Lekki ports, as well as access to domestic and international airports.

Yusuf emphasized the importance of reliable port access for manufacturers reliant on imported raw materials or exporting finished goods, while also pointing out that inadequate road and rail networks make location a critical factor for industrial decision-making.