Lagos remains the center of Nigeria’s economy, Obasa says

Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa, has reaffirmed Lagos as the beating heart of Nigeria’s economy, stressing that despite Abuja being the Federal Capital Territory, Lagos continues to drive the economic strength of the nation.

Obasa made this statement on Thursday when he received the new leadership of the Lagos Chamber of Commerce and Industry (LCCI), led by its President, Engr. Leye Kupoluyi, during a courtesy visit to the Assembly.

The President stressed that Lagos remains the best investment destination in Nigeria, citing key legislations such as the Public-Private Partnership Act, the Employment Trust Fund Act and the Lagos State Lottery Act as evidence of the Assembly’s commitment to creating a business-friendly environment. He noted that these laws were designed to support entrepreneurs, attract investors and support Lagos’ position as the economic hub of the country.

“Lagos is the center of Nigeria’s economy. We have always been pro-business and pro-people, and our laws reflect this commitment. Lagos is strategically positioned to be Africa’s leading lighthouse, geographically, economically and more,” Obasa said.

Previously, Eng. Kupoluyi appreciated the Assembly’s initiatives and called for stronger collaboration between parliament and the business community. He urged the Chamber to continue implementing policies that facilitate business operations and foster economic growth in the state.

The LCCI delegation included Chief Varkey Verghese, MFR (Honorary Life Vice President), Sir Ladi Smith (Vice President), Princess Layo Bakare-Okeowo (Vice President), Dr Chinyere Almona, FCA (Director General), Dr Sunnie Omeiza-Michael (Director, Research and Advocacy) and Mrs Akintunde Temitope (International Director).

Present in the Chamber were the Hon. Stephen Ogundipe, Hon. Oladele Ajomale, Hon. Jubril AbdulKareem and Hon. Bonu Solomon and the Hon. Ajayi. Also present were the Clerk of the House, Mr. Lekan Onafeko, along with assistants to the President.

The meeting underlined the shared vision of both institutions to position Lagos not only as Nigeria’s economic powerhouse, but also as a continental leader in trade and development.