Sanwo-Olu pledges more reforms as Lagos ranks among top business-friendly states

By Ejire Folakunmi

Lagos State has been ranked among the top 10 performing states in Nigeria’s ease of doing business index, alongside Kaduna, Oyo, the Federal Capital Territory (FCT), Ogun, Enugu, Plateau, Ekiti, Kano and Nasarawa.

The ranking is contained in the 2025 Subnational Ease of Doing Business Report, which highlights significant improvements in states implementing reforms, including up to 40 per cent reduction in business registration timelines and over 30 per cent improvement in land administration efficiency.

Director-General of the Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Mustapha Audu, disclosed this during a roundtable with members of the diplomatic community and strategic partners in Abuja.

According to her, the results demonstrate that sustained reforms are yielding measurable outcomes.

“These achievements are not abstract metrics; they are signals to investors that Nigeria is becoming more predictable, more transparent, and more competitive,” she said.

Governor Babajide Sanwo-Olu said Lagos’ performance reflects deliberate efforts by his administration to create an enabling environment for both local and foreign investments.

“This is the result of deliberate efforts by our government to create a positive environment for investments to thrive and deliver good returns. We will continue to push for more investments and make Lagos a truly business-friendly state,” he said.

The event, held in collaboration with the British High Commission, UKAID, and other partners, focused on linking investment capital to top-performing states.

Audu noted that while progress has been recorded, the challenge remains ensuring that reforms translate into tangible benefits for businesses.

“As important as progress is, the real question is whether reforms can deliver faster permitting processes, clearer regulatory pathways, and efficient capital deployment,” she added.

PEBEC, she said, is focusing on improving regulatory coordination, enhancing service delivery through platforms such as ReportGov, and deepening reforms at the state level where most business activities occur.

Minister of Budget and Economic Planning, Abubakar Bagudu, noted that Nigeria’s ambition to build a $1 trillion economy will depend largely on the role of states and the private sector.

“We are confident that, with the private sector leading, we can achieve a $1 trillion economy,” he said.

Also speaking, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada, said the state’s ranking reflects sustained institutional reforms and policy discipline.

She disclosed that Lagos contributes over 30 per cent of Nigeria’s Gross Domestic Product and accounts for more than 60 per cent of commercial and industrial activities.

Bada added that the Lagos State Development Plan 2052 and the proposed Industrial Policy 2025–2030 are designed to sustain economic growth and promote a production-driven, export-oriented economy.

She noted that reforms in land administration, construction permits, and tax systems have improved transparency, with low-risk permits now processed within 15 working days.

The commissioner also highlighted investments in infrastructure, including fibre-optic networks, transport systems, and logistics, as well as strong public-private partnership frameworks to attract investors.