Sanwo-Olu urges investors to leverage Lagos’ improving business environment

By Adeola Ogunrinde –

Governor Babajide Sanwo-Olu on Monday urged investors to take advantage of Lagos State’s improving business environment, noting that the state currently leads national ease of doing business rankings. Lagos was ranked Nigeria’s top investment destination with a score of 85.6 per cent in the latest Subnational Ease of Doing Business report by the Presidential Enabling Business Environment Council (PEBEC).

Governor Sanwo-Olu made the remarks at the official unveiling of the new TY Logistics Park, FZE, a state-of-the-art trade and warehousing complex in Alaro City, Lagos. The 29,000-square-metre facility, commissioned alongside Governor Agbu Kefas of Taraba State, is equipped with advanced warehouse management systems and is set to enhance the movement of goods across Nigeria and West Africa.

Commending TY Holdings for its continued investment in Lagos, Governor Sanwo-Olu described the project as a landmark development that will permanently feature in the economic story of Lagos and Nigeria. He said the project amplifies the transformation of Alaro City into one of Sub-Saharan Africa’s preferred industrial destinations.

The governor highlighted ongoing infrastructure projects supporting trade within the Lekki industrial corridor, including plans for a road linking Lekki Port, Dangote Refinery, and Alaro City to reduce traffic on Lekki Expressway. He also noted that Lagos is developing the largest food logistics hub in West Africa and expanding infrastructure to support businesses in the corridor.

Governor Kefas commended the initiative, expressing pride in Taraba State’s involvement. He described the project as a deliberate effort to advance development and economic progress in Nigeria, particularly through partnerships facilitating the movement of agricultural produce from Taraba to Lagos markets and processing hubs.

The chairman of TY Logistics Park, Theophilous Danjuma Jr, explained that the project’s vision began four years ago when his father, retired Lt General Theophilus Danjuma, approved investment into the land. The facility is designed to provide modern logistics solutions, digitalised warehouse operations, and end-to-end supply chain support for electronics, auto parts, pharmaceuticals, fashion, and other sectors.

The unveiling ceremony attracted notable figures including billionaire and retired Army Lt General Theophilus Danjuma, his wife Senator Daisy Danjuma, traditional rulers, religious and political leaders, diplomats, and executives from Alaro City and the Lekki Free Zone.

Governor Sanwo-Olu concluded by reiterating Lagos’ commitment to modernising logistics, attracting foreign investment, and accelerating economic growth, reinforcing the state’s status as a prime investment destination in Nigeria and the region.