Lagos Remains Center of Nigeria’s Economy, Says Obasa

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

Obasa made this declaration on Thursday, April 16, 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 Speaker emphasized that Lagos remains the best destination for investment in Nigeria, citing landmark legislations such as the Public Private Partnership Law, the Employment Trust Fund Law, and the Lagos State Lottery Law 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 sustain Lagos’s 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 placed to be the leading light of Africa, geographically, economically, and otherwise,” Obasa stated.

Earlier, Engr. Kupoluyi appreciated the Assembly’s initiatives and called for stronger collaboration between the legislature and the business community.

He urged the House to continue enacting policies that would ease business operations and foster economic growth in the state.

The LCCI delegation included Chief Varkey Verghese, MFR (Hon. 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 & Advocacy), and Mrs. Akintunde Temitope (Director, International).

Members of the House present were Hon. Stephen Ogundipe, Hon. Oladele Ajomale, Hon. Jubril AbdulKareem and Hon. Bonu Solomon and Hon. Ajayi. Also in attendance was Clerk of the House Mr. Lekan Onafeko, alongside aides to the Speaker.

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