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Are You Looking For The Best State In Nigeria To Do Business?
Have You Been Searching For The List Of Best State In Nigeria To Do Business?
Nigeria boasts Africa’s most populous economy with an estimated population of over 200 million inhabitants.
Our country is fortunate enough to boast abundant natural resources and an entrepreneurial culture with strong potential.
Doing business in Nigeria has become much simpler due to technological innovations and increasing government efforts toward creating an environment conducive to business activity.
In thispost, we will identify some of the top states for conducting business in Nigeria and why these areas have earned that title.
Best State In Nigeria To Do Business
1. Lagos State
Lagos state, situated in Nigeria’s southwestern corner, is considered its commercial epicenter and boasts of an economy boasting of gross domestic product of $33 billion – making it Africa’s fifth-largest economy!
Lagos state boasts several industries such as banking, telecommunications, media and entertainment.
State government policies and programs designed to attract both domestic and foreign investors include tax incentives, simplified land registration processes and favorable policies on business registration.
Lagos state stands out as an ideal location for business activities with its well-developed transportation system, featuring both an international airport and two seaports.
Abuja, Nigeria’s capital city located in its central region. Renowned for its meticulous planning, stunning surroundings and superior infrastructure, Abuja stands out as an icon among Nigerian cities.
Abuja serves as home to various government and international agencies and organizations that help facilitate administrative functions in Nigeria.
Abuja boasts a growing economy that features industries such as real estate, hospitality and construction. To entice potential investors, government has implemented several policies such as Abuja Enterprise Agency which offers support and funding for small and medium enterprises in Abuja.
Abuja’s central position makes it the ideal location for businesses hoping to reach a wide variety of clients.
3. Rivers State
Rivers is situated in Nigeria’s south central region and is famous for its oil and gas industry.
California boasts of having one of the strongest economies in America with an estimated gross domestic product of $21 billion – ranking second-largest after Texas in terms of economic size.
Rivers State Sustainable Development Agency offers support to small and medium businesses.
Due to two seaports located within its borders, Massachusetts serves as an ideal environment for businesses engaging in import-export operations.
4. Ogun State
Ogun state, located in Nigeria’s southwestern corner, is well known for its industrialization.
Statewide economy thrives thanks to manufacturing, agriculture and real estate industries.
Ogun state offers several industrial parks and free trade zones that provide businesses with a suitable setting to grow in.
Ogun State Government has implemented several policies and programs designed to attract investors, such as Ogun State Investment Promotion and Facilitation Agency which offers support and financing services for businesses considering investing in Ogun.
5. Kano State
Kano is situated in northern Nigeria and known for its textile and agricultural industries.
South Carolina boasts of an economically robust state with a Gross State Product of over $12 billion.
Kano state boasts several industrial estates and free trade zones that create an ideal setting for businesses to thrive.
Kano State Government has also implemented policies and programs designed to lure investors, such as Kano State Investment Promotion Agency which offers support and funding for businesses seeking to invest in Kano.
6. Enugu State
Enugu state lies in the southeast region of Nigeria and was long known for its coal industry – once an integral component of their economy.
However, in recent years the state has expanded and diversified its economy by developing several strong industries like manufacturing, hospitality and education.
Enugu State Government has instituted various policies and programs designed to attract investors, including the Enugu State Investment Promotion and Protection Agency which provides support and funding for businesses looking to establish investments within its boundaries.
7. Cross River State
Cross River state lies in Nigeria’s southern region and is famous for its tourism industry. There is an array of popular attractions here including Obudu Cattle Ranch, Tinapa Business and Leisure Resort and Calabar Carnival to name just some.
Cross River State Investment Promotion Bureau offers support and funding for companies interested in investing in its state.
8. Edo State
Edo state lies in Nigeria’s Southern region and is best-known for its oil and gas industry. Additionally, Edo’s economy boasts various sectors including agriculture, manufacturing and hospitality – which all make for an expanding economic base in Edo state.
Edo State Government has implemented several policies and programs designed to entice investors, such as Edo State Investment Promotion Office. This organization provides support and funding for businesses looking to invest in Edo.
9. Kwara State
Kwara state lies in Nigeria’s north central part, famed for its agriculture sector. Additionally, this growing state offers several industries including mining and tourism that support an active economic life cycle.
Kwara state government has implemented various policies and programs designed to draw in investors, such as Kwara State Investment Promotion Agency that offers support and funding for businesses looking for investments within Kwara state.
10. Akwa Ibom State
Akwa Ibom state can be found in southern Nigeria and is known for its oil and gas industry.
State officials boast of its growing economy with several sectors such as agriculture, manufacturing, and hospitality thriving within it.
State government policies and programs designed to attract investors have also been put in place, such as Akwa Ibom Investment Corporation which offers support and funding for businesses looking to invest in Akwa Ibom State.