IBRAHIM QUADRI
Despite numerous challenges facing Nigeria’s socio-economic development, Lagos State has not only sustained its status as the commercial capital but also providing a safe and conducive environment for business to thrive.
Interestingly, the administration of the State Governor, Mr Babajide Sanwo-Olu has proven its mettle even more in the outgoing year. The Governor has been able to leapfrog the State economy maintaining an enviable status regionally.
In its 2025 ranking, the Presidential Enabling Business Environment Council, PEBEC, Lagos emerged as the best-performing state, scoring 85.6 per cent to beat other states.
The report, released by the Director-General of PEBEC, Mrs Zahrah Mustapha-Audu, placed Kaduna in second position with 65.1 per cent.
For the record, PEBEC is a federal government agency dedicated to simplifying business operations in Nigeria through reforms and policy enhancements.
On the other hand, the Ease of Doing Business Report is a comprehensive, data-driven assessment of how Nigeria’s 36 states and the FCT are shaping business competitiveness through regulation, infrastructure, and administrative efficiency.
The report assesses performance across 16 indicators and 36 sub-metrics covering electricity, infrastructure, digital connectivity, land administration, taxation, trade logistics, justice delivery, investor support, and skilled labour readiness.
According to the DG, the leading states distinguished themselves through consistent reform momentum, improved digital processes and more predictable regulatory environments.
“The 2025 report also highlights five priority interventions states can implement immediately. These include establishing investor aftercare systems, strengthening MSME credit enablement, harmonising interstate trade rules, upgrading commercial justice processes and improving power reliability for industrial clusters,” she said.
According to her, PEBEC will continue to support state-led reform adoption, particularly under the $750 million State Action on Business Enabling Reforms programme. She added that the 2025 Subnational EoDB Report “provides a critical foundation for policy action, investment decisions and long-term competitiveness across Nigeria.”
In line with this development, Governor Sanwo-Olu, has encouraged investors to take advantage of the state’s improving business environment, noting that Lagos currently leads the national ease of doing business rankings.
Governor Sanwo-Olu recently at the official unveiling of the new TY Logistics Park, FZE, complex located in the Alaro City, Lagos, highlighted ongoing infrastructure projects supporting trade within the Lekki industrial corridor, including plans for a road linking Lekki Port, Dangote Refinery and Alaro City, aimed at reducing traffic on Lekki Expressway.
He said Lagos is currently building the largest food logistics hub in West Africa and expanding critical infrastructure to support businesses around the Lekki industrial corridor.
Similarly, one of the parameters in determining EoDB by PEBEC has to do with management of Micro, Small and Medium Enterprises, MSMEs. It is worthy to state that the Lagos State Employment Trust Fund (LSETF) has given financial support to close to 40,000 MSMEs where approximately 200,000 direct and indirect jobs have been created since its inception.
The Governor reaffirmed that supporting MSMEs remains a core pillar of his administration’s development agenda, noting that the sector drives productivity, job creation and the state’s economic stability.
Speaking through the Chairman, House Committee on Commerce, Cooperative, Trade and Investment, Hon. Abiodun Tobun, at the opening ceremony of the maiden Lagos MSMEs Exclusive and Eko Roundcity Trade Fair at the National Stadium, Surulere recently, Sanwo-Olu said the significance of MSMEs to the state’s economic growth cannot be overstated.
According to him, Lagos responsible for 30 to 35 per cent of Nigeria’s Gross Domestic Product (GDP) with an estimated economic value of $259 billion relies heavily on the daily output of thousands of small businesses across its markets, industrial clusters and creative hubs.
He highlighted the contributions of local traders in Balogun and Alaba, fashion designers in Surulere and Yaba, tech innovators in Lekki and Ikeja, agro processors in Epe and Ikorodu, and countless artisans and professionals whose work sustain the state’s competitiveness.
“This is why my administration considers support for MSMEs not as a side programme, but as a central pillar of our development agenda.”
In its determination to sustain the State growth and sustainability, on October 5, Lagos made history by hosting Africa’s first E1 electric powerboat race. This newest development has further strengthened the pivotal role the Govenror’s resilience is playing to sustain Lagos leading role among the subnationals.
In his endorsement message, President Bola Tinubu has thrown Nigeria’s weight behind the clean energy and marine innovation.
Tinubu in a goodwill message quoted in a statement by Lagos Special Adviser on Media and Publicity, Gboyega Akosile, praised Sanwo-Olu, and the sponsors for bringing the championship to Nigeria, describing it as a milestone for clean energy and marine innovation.
He said Lagos was making history as the first African city to host the E1 championship, joining Monaco, London, Jeddah, and Venice on the global calendar.
“This championship is not merely a thrilling spectacle on water but a statement of intent. The E1 Powerboat series combines world-class entertainment with clean energy innovation, showcasing electric-power vessels that point the way to a greener and more sustainable future,” Tinubu said.
The President linked the event to his administration’s vision for the blue economy, noting that the government is committed to building prosperity around renewable energy, marine tourism, and coastal infrastructure.
“By investing in our coastal infrastructure, marine tourism, and renewable energy, we create jobs, open new opportunities for youth, and strengthen Nigeria’s place in the global community,” he added.
Tinubu, who described himself as a “proud Lagosian,” said the championship affirmed the state’s reputation as a bold and forward-looking city.
In his submission, Sanwo-Olu said the competition was not only about sports but also a platform to showcase Lagos’ capacity for global events and sustainability.
On Transportation, the Lagos Rail Mass Transit Blue Line as at August 11, 2025, operates every 10 minutes, cutting the Marina to Mile 2 journey time to just 10 minutes. This represents an eight-minute reduction in travel time.
The Lagos Metropolitan Area Transport Authority, LAMATA noted the reduction in train headway will save commuters about 44 per cent in time and improve overall journey experience.
With the new schedule, Blue Line trips will increase to 90 from the current 72 on Mondays through Saturdays, while Sunday trips remain unchanged at 22.
The Managing Director of LAMATA, Abimbola Akinajo, attributed the achievement to new rolling stock procured by the Lagos State Government with Federal Government support.
In addition, the commercial passenger operation of the Lagos Rail Mass Transit Red Line is another project that signals commitment to actualizing the Lagos Strategic Transport Master Plan (LSTMP).
In its first year, the Red Line has successfully transitioned from a conceptual project to a working mass transit solution, sharing tracks with the Nigerian Railway Corporation.
Its earlier schedule of six daily trips (two morning, four evening) and, through efficient operations management, successfully scaled that service to nine trips a day starting in February 2025.
This incremental increase has been vital in building operational stability and trust in the system. The resulting surge in ridership validates the essential role the Red Line plays in providing sustainable, cost-effective mobility for Lagosians.
In its resolve for more efficient service delivery, the agency noted, “As we reflect on the success of the first year, our focus immediately shifts to expansion. We are delighted to confirm that the Red Line is entering a new phase of massive capacity increase. We are set to receive three additional train sets, each consisting of eight carriages. This confirmed fleet expansion will translate directly into a major improvement in frequency and passenger comfort, significantly easing the capacity crunch experienced during peak hours.”
Also, the water transportation got a boost. Lagos Ferry Services, LAGFERRY Managing Director, Ladi Balogun stated recently, “Interestingly, we have a lot of plans, Lagos State government is driven governance, particularly the administration of Dr. Babajide Olusola Sanwo-Olu, is driven the governance on the pillars of THEMES Plus agenda. I play in the Transportation and Traffic Management pillar, that is the fourth pillar.
“And Lagos State Ferries Services has a role when it comes to enabling commerce and promoting tourism. Beyond Detty December, for instance, we have done more than 31,000 hours this year alone, that is the operation of Lagferry on our scheduling services, and of course, charter services.”
The MD added, ”We all know for a fact one third of Lagos State’s landmass is covered with water. From the whole 20 local governments of Lagos State, 15 of the local governments can actually be accessed by waterways. So talking about Lagos East, Lagos Central and Lagos West, you can actually get to anywhere by water. That’s where we play our role; that’s where we play the function of Lagos State Ferries Services.
“But we are exposed to letting the public know that of the 20 ferries that we have, they come in various sizes, 60-capacity, 50-capacity, 40-capacity, 30-capacity, and 20-capacity. So we are ready to make our services available to you at all points.”
Balogun hinted on a new initiative tagged, “Water Taxi which is meant to alleviate the suffering of the people and let people have the experience of credible and safe alternative.
“If we are not able to demonstrate our capability of managing a safe waterway, all these investors will not be coming in. So it is a testament to the fact that we have a very safe waterways, very secure waterways and that’s why investment is coming from the private sector and from the international organizations, There is no issue, as far as we’re concerned.”
On road construction, as at August in 2025, Sanwo-Olu has handed over 39 roads and five Bridges to Lagosians within the year. The State Commissioner for Information and Strategy, Gbenga Omotoso disclosed this ahead of the commissioning of Badagry Network of Roads which consists of three road networks.
According to Omotoso, the State government considers Infrastructure as a strategic economic growth driver and a catalyst for development. He said, “The administration of Mr. Governor, Babajide Olusola Sanwo-Olu, and the Deputy Governor, Dr. Obafemi Hazmat, envisioned the provision of Road Infrastructure in the T (Traffic Management and Transportation) Pillar of the THEMES Plus Agenda, to enhance trade and commerce, boost multi-modal transportation, and open up remote areas.”
To date, the State Government has continued to complete projects that hold tremendous socio-economic benefits for the people.
Through these projects, the Lagos State Government has continued to provide decent livelihoods for Lagosians and contributed to the development of a sustainable intermodal Transportation system in Lagos State.
To address the nonavailability of potable water, penultimate week, the Governor has given assurance that 140 million gallons per day Adiyan water works will begin operation in 2026. The project which had become moribound is having a face lift by the visionary leadership of Sanwo-Olu. The water works which is 85 percent completed, is meant to serve more than five millions Lagosians.
Attention is accorded to Adiyan water works as part of Sanwo-Olu’s strong desire to complete inherited abandoned projects. The phase II of the ater works project had spanned a spate of 13 years, having been initiated in 2012. The water works comprised of phase I and II. Each has a capacity of 70 million per day, making a combined capacity of 140 million. When eventually completed, it will relieve many residents of the hardship associated with availability of potable water which has been a mirage for more than a decade in the State.
However, in the interim, the State government has come up with another initiative of revamping several mini water works that had been moribound across the State. To demonstrate its serious, the Governor has inaugurated one million gallons per day Akilo water works in Ogba on December 12. The project which was done in conjunction with WaterAid will serve about 100,000 residents of Agege, Ogba and environs.
In essence, the sustainance of the growth recorded in Lagos over the years is a direct impact of a visionary approach being provided by Governor Sanwo-Olu. His leadership style has augmented successes across various sectors of the economy. It is expected that Sanwo-Olu’s achievements in the outgoing year would be tailored towards addressing shortfalls in the coming years for Lagos to maintain a leading role to have a more resilient city.
Peter Anayo
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