Lagos State has been ranked among Nigeria’s most business-friendly states in the 2025 Ease of Doing Business report, with Governor Babajide Sanwo-Olu reaffirming his administration’s commitment to strengthening reforms and attracting more investment.
The ranking, released by the Presidential Enabling Business Environment Council (PEBEC), places Lagos in the top 10 states creating a favourable climate for businesses. Other states on the list include Kaduna, Oyo, the Federal Capital Territory, Ogun, Enugu, Plateau, Ekiti, Kano, and Nasarawa.
According to the report, states that have embraced reforms have made notable progress in reducing the time it takes to register businesses, improving land administration, and expanding digital platforms that support business operations and dispute resolution.
Speaking at a meeting with diplomats and development partners in Abuja, PEBEC Director-General Zahrah Mustapha Audu said the improvements signal a more competitive and transparent business environment in Nigeria.
“These achievements are not just numbers; they show investors that Nigeria is becoming more predictable, transparent, and competitive,” she said.
Reacting to the ranking, Governor Sanwo-Olu said Lagos would continue to push policies that encourage both local and foreign investment.
“This reflects our deliberate efforts to build an environment where businesses can thrive and generate strong returns. We remain committed to attracting more investments and making Lagos even more business-friendly,” he said.
The meeting, held in collaboration with the British High Commission and UKAID, focused on linking investment opportunities to states that have demonstrated strong reform performance. It also explored ways to ensure policy changes translate into real benefits for businesses.
Audu emphasised the need for reforms to deliver practical results, such as faster approvals, clearer regulations, and easier access to funding.
“Progress alone is not enough. The real question is whether these reforms can lead to faster processes, clearer guidelines, and efficient capital flow, because investors go where there is certainty,” she added.
Minister of Budget and Economic Planning, Abubakar Bagudu, noted that Nigeria’s ambition of becoming a $1 trillion economy would depend heavily on collaboration between state governments and the private sector.
“We are confident that with the right approach and private sector leadership, we can achieve a $1tn economy,” he said.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada, attributed the state’s ranking to consistent policy reforms and institutional stability.
“Our progress is not by chance. It is the result of sustained reforms, disciplined policies, and the understanding that investors need clarity, confidence, and continuity,” she said.
She added that Lagos continues to play a major role in Nigeria’s economy, with ongoing plans to boost infrastructure, strengthen digital governance, and expand public-private partnerships to sustain growth and investor confidence.
