The Lagos State Government has restated its commitment to creating a more predictable, transparent, and business-friendly economic environment through comprehensive tax and regulatory reforms. Speaking during the Lagos Special Day celebration and closing ceremony of the 2025 Lagos International Trade Fair, Governor Babajide Sanwo-Olu assured investors and entrepreneurs that the state is intensifying efforts to harmonise taxes and eliminate multiple, overlapping charges that often burden businesses.
Governor Sanwo-Olu, who was represented by the Commissioner for Information and Strategy, Mr. Gbenga Omotoso, said that Lagos is determined to build a competitive economy anchored on simplicity, accountability, and ease of doing business. He noted that the government is working closely with stakeholders to streamline payment systems, reduce bureaucratic delays, and ensure that businesses operate within a clear, fair and efficient tax structure.
According to him, one of the administration’s key priorities is the consolidation of regulatory processes through digital transformation. Sanwo-Olu explained that the state is developing unified online platforms that will serve as one-stop hubs for business registration, licensing, and regulatory approvals. This, he said, will significantly reduce processing time and operational costs for entrepreneurs, while improving transparency across government services.
The governor emphasized that Lagos, as Nigeria’s economic heartland and a major commercial destination in West Africa, must continue to innovate and remove bottlenecks that hinder growth. He highlighted ongoing efforts to strengthen institutional capacity, expand public infrastructure, and promote public–private partnerships that support investment and industrial expansion.
Sanwo-Olu also pointed to several initiatives aimed at supporting small and medium-scale enterprises (SMEs), including access to financing, targeted training programmes, and sector-specific incentives designed to help businesses scale sustainably. He reiterated that the government’s reform agenda is built on the principles of collaboration and accountability, assuring the business community that Lagos will continue to listen, adapt and respond to their needs.
The governor commended the Lagos Chamber of Commerce and Industry (LCCI) for sustaining the Trade Fair as a platform that fosters trade, investment and innovation. He urged both local and international investors to take advantage of Lagos’ evolving economic landscape, reaffirming that the state remains open, ready and committed to enabling business success.
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