Lagos economic powerhouse reaffirmed as Speaker Obasa says state remains Nigeria’s commercial hub and top destination for investment and growth

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa, on Thursday reaffirmed Lagos State’s position as Nigeria’s primary economic hub, insisting that the state continues to drive the nation’s commercial strength despite Abuja serving as the Federal Capital Territory.

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Rt. Hon. Mudashiru Ajayi Obasa made the remarks while receiving the leadership of the Lagos Chamber of Commerce and Industry (LCCI), led by its President, Engr. Leye Kupoluyi, during a courtesy visit to the Assembly complex.

The Speaker stated that Lagos remains the most attractive destination for investment in Nigeria, crediting the State House of Assembly’s legislative framework for strengthening business confidence and economic development.

He highlighted key laws such as the Public Private Partnership Law, the Employment Trust Fund Law, and the Lagos State Lottery Law as examples of policies designed to support entrepreneurship, encourage private sector participation, and sustain long-term growth.

“Lagos is the centre of Nigeria’s economy. We have always been pro-business and pro-people, and our laws reflect this commitment,” Obasa said, describing Lagos as strategically positioned to remain a leading economic force in Africa.

Lagos economic powerhouse status, he added, is reinforced by deliberate policies aimed at creating a business-friendly environment that supports both local and international investors.

In response, Engr. Kupoluyi commended the Lagos State House of Assembly for its legislative efforts and called for deeper collaboration between lawmakers and the private sector to further improve the ease of doing business in the state.

The LCCI delegation included senior officials such as Chief Varkey Verghese, Sir Ladi Smith, Princess Layo Bakare-Okeowo, and Dr. Chinyere Almona, among others, while several members of the House and legislative staff were also present at the meeting.

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The engagement underscored a shared commitment between both institutions to strengthen Lagos’s position not only as Nigeria’s commercial capital but also as a key driver of continental economic development.