State leads national index on regulatory efficiency, digital reforms and infrastructure as it targets global investors ahead of “Invest in Lagos 3.0” summit…..
Lagos State has emerged as the best-performing state in Nigeria for ease of doing business in the 2026 Presidential Enabling Business Environment Council (PEBEC) rankings, reaffirming 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, assessed all 36 states and the Federal Capital Territory using key indicators such as infrastructure quality, land administration processes, digital public service delivery, investor engagement systems, and regulatory efficiency.
Lagos recorded the highest overall performance, earning formal recognition presented to the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, alongside Vice President Kashim Shettima.
The announcement was highlighted during a ministerial press briefing at the Bagauda Kaltho Press Centre in Ikeja, where the state government also presented its third-year performance scorecard under Governor Babajide Sanwo-Olu’s second term.
Officials described the ranking as validation of ongoing reforms aimed at positioning Lagos not only as Nigeria’s commercial capital but also as a competitive entry point for investment across Africa.
According to the government, the performance reflects sustained policy efforts anchored on the Lagos State Development Plan 2052 and the T.H.E.M.E.S+ agenda, particularly its economic pillar focused on building a modern, innovation-driven economy.
A major component of the state’s investment strategy is the “Invest in Lagos” summit series, which has become a flagship platform for attracting domestic and foreign capital.
The second edition, held in July 2025 at Eko Hotels and Suites in Victoria Island, brought together more than 500 investors, policymakers, and business leaders to explore opportunities across transportation, healthcare, energy, innovation, and technology.
Organised in partnership with the Commonwealth Enterprise and Investment Council, Sterling One Foundation, and Arise Media Group, the summit focused on scaling investment flows into Lagos through structured partnerships and sectoral opportunities.
The state is now preparing for the third edition, “Invest in Lagos 3.0,” scheduled for June 8–9, 2026 at the Eko Convention Centre, where it expects participation from global investors, development institutions, governors, and major financial stakeholders.
Government officials say the upcoming summit is designed to unlock large-scale investment commitments across priority sectors of the state’s economy.
Governor Babajide Sanwo-Olu has also continued international investment engagements, including a recent delegation to the Commonwealth Enterprise and Investment Council Trade and Investment Summit in London, where Lagos was promoted as a prime destination for bankable projects and commercial partnerships.
At the Lagos briefing, Ambrose-Medebem said the state’s investment strategy is built around creating a predictable and transparent business environment, noting that investors respond to systems that combine credibility with regulatory clarity.
Beyond investment promotion, Lagos also received national recognition for its cooperative financing initiative, LASMECO, which was adopted at the 16th National Council on Industry, Trade and Investment as a model for MSME support across Nigeria.
The programme was endorsed as a template for improving access to financing for small businesses and cooperatives, strengthening Lagos’ reputation for subnational innovation in economic development.
The state has also unveiled its Industrial Policy 2025–2030, aimed at transforming Lagos into Africa’s manufacturing hub through targeted infrastructure development, industrial expansion, and private sector collaboration.
As part of the policy rollout, Lagos has begun upgrading industrial estates in Matori and Ikorodu, alongside compliance and verification exercises across state-owned industrial assets.
International engagement has also intensified, with recent visits from delegations from the United States, the Netherlands, and the United Arab Emirates, as well as participation in global investment forums in London and other financial hubs.
Discussions with foreign partners have reportedly focused on infrastructure development, coastal protection, manufacturing, technology, and the creative economy.
Among recent highlights was a visit by representatives of Apple Inc. and actor David Oyelowo to the Lekki Free Trade Zone in connection with the proposed film adaptation of Things Fall Apart.
Officials say the latest PEBEC ranking is not being treated as an endpoint, but as a stepping stone toward deeper economic transformation ahead of the end of the current administration’s tenure in 2027.
