Lagos Ranked Best State for Business in Nigeria

Lagos State has been recognized as the top-performing state for business in Nigeria, achieving a score of 85.6 in a recent report assessing the subnational business environment. This ranking places Lagos ahead of other states such as Kaduna, Oyo, and Ogun.

The report highlights the state's robust infrastructure, efficient regulatory systems, and strong market access as key factors contributing to its success. Zahrah Audu, the Director General of the Presidential Enabling Business Environment Council (PEBEC), noted that sustained reforms are yielding positive results, making it easier to conduct business in Nigeria.

Governor Babajide Sanwo-Olu attributed this rise in ranking to deliberate efforts by his administration to implement consistent reforms and upgrade policies that enhance business competitiveness. The report emphasizes the importance of a robust legal system and efficient grievance redress mechanisms, which have been improved through digitalization.

The ongoing reforms aim to attract both local and foreign investments, positioning Lagos as a major economic powerhouse in Africa.