Lagos State has been ranked the best state in Nigeria for ease of doing business in the 2026 Presidential Enabling Business Environment Council (PEBEC) rankings, strengthening its position as the country’s leading commercial and investment destination.
The ranking, released in March and based on the 2025 Subnational Ease of Doing Business Report, evaluated all 36 states and the Federal Capital Territory across infrastructure, land administration, digital services, investor support systems, and regulatory efficiency.
Lagos emerged top overall and the recognition was formally presented to the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, alongside Vice President Kashim Shettima.
The state government said the achievement reflects sustained reforms under Governor Babajide Sanwo-Olu, aimed at transforming Lagos into what officials describe as the “Business Gateway of Africa.”
Speaking during a ministerial briefing at the Bagauda Kaltho Press Centre in Ikeja, Ambrose-Medebem linked the ranking to ongoing investment reforms anchored on the Lagos State Development Plan 2052 and the T.H.E.M.E.S+ agenda.
Central to this strategy is the “Invest in Lagos” summit series, which has become a flagship platform for attracting global investors across transport, energy, healthcare, technology, and innovation sectors.
The second edition, held in July 2025 at Eko Hotels and Suites, Victoria Island, brought together over 500 investors, policymakers, and business leaders under the theme “Scaling Action: Bold Solutions Towards Making Lagos a 21st Century Economy.”
A third edition, “Invest in Lagos 3.0,” is scheduled for June 8–9, 2026 at the Eko Convention Centre, with expected participation from global financiers, development institutions, and industry leaders.
Officials said the summit is designed to unlock large-scale investment opportunities across key sectors of the Lagos economy.
Governor Sanwo-Olu also recently led a delegation to the Commonwealth Enterprise and Investment Council Trade and Investment Summit in London, where Lagos was promoted as a prime destination for bankable investments.
Beyond rankings and summits, the state highlighted federal recognition of its cooperative financing scheme, LASMECO, which was adopted as a national model for MSME financing at the 16th National Council on Industry, Trade and Investment.
The council, convened by the Federal Ministry of Industry, Trade and Investment, brought together stakeholders to harmonise industrial and trade policies across Nigeria.
The Lagos State Industrial Policy 2025–2030 was also launched to strengthen manufacturing, infrastructure development, and industrial expansion over the next five years.
The state government has begun upgrading industrial estates in Matori and Ikorodu while conducting compliance checks across state-owned industrial facilities.
Lagos has also stepped up international engagements, hosting delegations from the United States, the Netherlands, and the United Arab Emirates, and participating in investment forums in London and other global centres.
Among recent engagements was a visit by representatives of Apple and actor David Oyelowo to the Lekki Free Trade Zone linked to discussions around a proposed film adaptation of Things Fall Apart.
The government said the PEBEC ranking represents not an endpoint, but a foundation for deeper economic transformation ahead of 2027.
