Economy
Lagos Ranks Best State for Business Operations in Nigeria
By Adedapo Adesanya
Lagos remains Nigeria’s top-performing state for ease of doing business, according to a new report by the Presidential Enabling Business Environment Council (PEBEC).
PEBEC in its Subnational Ease Of Doing Business Report 2025, which analyses the business environment across Nigeria’s 36 states and the Federal Capital Territory (FCT), noted that five states stood out as the strongest performers: Lagos, Kaduna, Oyo, the FCT and Ogun.
Lagos with 85.6 per cent stood out particularly for infrastructure such as roads and logistics, land administration, regulatory digital transformation, and digital literacy. It also continues to serve as the country’s tech hub and logistics gateway. Others include Kaduna (65.1 per cent), Oyo (62.7 per cent), the FCT (61.0 per cent) and Ogun (59.9 per cent).
Meanwhile, states such as Benue, Borno, and Zamfara remain at the bottom of the ranking as years of prolonged conflict and terrorism continue to make business operations challenging.
“Lagos state demonstrates strong market access, supported by efficient one-stop shops and clearly published incentives. Streamlined regulatory procedures and coordinated institutional support enable businesses to enter and expand operations with minimal delays, fostering investor confidence and enhancing the state’s attractiveness for new investment,” it said.
While Lagos ranks ahead of its peers, critical gaps include touting and loitering, investor aftercare, and digital connectivity.
PEBEC warned that “the presence of unauthorized individuals loitering around key business and logistics touchpoints creates an environmental nuisance and introduces significant security and safety concerns for commercial operators and the public.”
On digital connectivity, PEBEC said with network coverage concentrated in urban centres, limiting businesses to city clusters and restricting e-commerce adoption in inner towns and communities, and curtailing digital economic gains, adding that poor performance in investor aftercare signals gaps in post-entry support.
“The absence of a dedicated desk or poorly functioning departments results in delayed responses, inconsistent engagement, and limited guidance for investors, reducing Lagos state’s ability to retain existing investments and attract new capital.”
PEBEC noted that the Lagos State government must launch a high-capacity, dedicated Investor Aftercare Service to provide white-glove support for existing investors.
In the medium term, it advised that the state to prioritize enhanced security measures and regulatory enforcement by integrating real-time surveillance at key street corners and business corridors, coupled with deploying dedicated special task forces to physically remove loitering individuals.
“Crucially, the state should also pass an anti-loitering law to provide the legal framework necessary for sustained enforcement.”
On tackling its long term challenges, Lagos needs to upgrade digital infrastructure by extending fiber optic networks and incentivising last-mile connectivity.
“This will make high-speed internet more reliable, cut operational friction, and help businesses access markets easier,” PEBEC said.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.04 per cent loss on Thursday, December 11 despite the share prices of securities closing green.
Yesterday, Central Securities Clearing System (CSCS) Plc depreciated by N2.74 to N37.18 per share from the N39.82 per share it ended a day earlier.
This depleted the NASD Unlisted Security Index (NSI) by 1.37 points to 3,578.23 points from 3,579.60 points and tumbled the market capitalisation by N600 million to N2.140 billion from N2.141 trillion.
Data from the NASD exchange showed that Nipco Plc appreciated by N19.48 to sell at N214.48 per unit versus N195.00 per unit, MRS Oil Plc added N16.19 to close at N179.00 per share compared with Wednesday’s closing price of N162.81 per share, FrieslandCampina Wamco Nigeria Plc increased by N1.68 to N60.00 per unit from N58.32 per unit, UBN Properties Plc advanced by 14 Kobo to quote at N2.22 per share versus N2.08 per share, and Geo-Fluids Plc gained 3 Kobo to trade at N4.65 per unit versus N4.62 per unit.
During the session, the volume of securities bought and sold by the market participants soared by 4,217.8 per cent to 35.2 million units from 815,000 units, the value of securities went up by 8,040.3 per cent to N1.4 billion from N16.5 million, and the number of deals jumped by 16.00 per cent to 29 deals from 25 deals.
At the close of transactions, Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value on a year-to-date basis with 5.8 billion units sold for N16.4 billion, trailed by Okitipupa Plc with 178.8 million units worth N9.5 billion, and Air Liquide Plc with 507.6 million units traded for N4.2 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units transacted for N420.3 million, and Impresit Bakolori Plc with 537.0 million units worth N524.9 million.
By Adedapo Adesanya
The seasonal foreign exchange (FX) demand pressure further dealt a blow on the Naira in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 11, weakening its value against the US Dollar by 69 Kobo or 0.05 per cent to N1,456.07/$1 from the N1,455.38/$1 it ended a day earlier.
The Nigerian currency also performed poorly against the Pound Sterling and the Euro in the same market window during the trading session.
It lost N12.85 against the British currency to close at N1,950.11/£1 versus the preceding session’s N1,937.26/£1 and declined against the European nation’s currency by N13.60 to settle at N1,692.76/€1 compared with the previous day’s N1,706.36/€1.
At the GTBank forex counter, the domestic currency crashed against the US Dollar by N3 yesterday to sell at N1,463/$1 versus the N1,460/$1 it was exchanged a day earlier, and closed flat in the parallel market at N1,470/$1.
The local currency facing pressures defied the Central Bank of Nigeria (CBN) FX interventions amidst rising foreign payments, reflecting the absence of significant inflows from foreign investors, exporters and non-bank corporate players. This suggests that the FX market is trading at the band caused by seasonal pressures.
Yet, the Naira is expected to trade within a range, with increased Dollar sales by the central bank and steady remittance inflows offsetting seasonal demand for imports.
“All indicators point to range-bound trading for the week ahead, with the Naira likely within the range of between 1,445 and 1,460 to the dollar,” a trader told Reuters.
In the cryptocurrency market, benchmarked currencies appreciated as traders digested the Federal Reserve’s decision to trim its fed funds rate range by 25 basis points.
Solana (SOL) jumped by 6.0 per cent to $131.06, Litecoin (LTC) increased by 2.6 per cent to $83.45, Bitcoin (BTC) gained 2.4 per cent to close at $92,539.49, Binance Coin (BNB) also improved by 2.4 per cent to $892.03, Dogecoin (DOGE) expanded by 1.6 per cent to $0.1408, Ethereum (ETH) rose by 1.6 per cent to $3,254.61, and Ripple (XRP) grew by 1.4 per cent to $2.03.
However, Cardano (ADA) depreciated by 1.1 per cent to $0.4262, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Aduragbemi Omiyale
The Nigerian National Petroleum Company (NNPC) Limited has confirmed that the Escravos–Lagos pipeline experienced an explosion on Wednesday evening.
It was gathered that an explosion happened on the oil facility at a few minutes before 6pm on Wednesday, December 10, 2025.
It precisely occurred near Tebijor, Okpele, and Ikpopo communities in Gbaramatu Kingdom, Delta State.
The Chief Corporate Communications Officer of the NNPC, Mr Andy Odeh, in a statement on Thursday, disclosed that, “Initial observations indicate a pressure drop consistent with a loss of containment on an NNPC Gas Infrastructure Company (NGIC) pipeline.
“The cause of the explosion is still unknown but would be confirmed after a detailed investigation has been concluded. Our priority at this time is the safety of nearby communities and the protection of the environment.”
He noted that, “Emergency response procedures have been activated, and we are working closely with relevant authorities and community leaders to ensure a coordinated approach to mitigate impact.”
“NNPC Limited remains committed to the highest safety and environmental standards.
“Further updates will be provided as more confirmed information becomes available,” he added.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn