Lagos and Ogun states attracted a combined ₦1.74 trillion in industrial investments between 2024 and 2025, accounting for about 87 per cent of total industrial investments recorded across Nigeria during the period.
The figures were disclosed by the Manufacturers Association of Nigeria (MAN), highlighting the continued concentration of manufacturing and industrial activities in Nigeria’s South-West corridor.
According to the report, other parts of the country attracted approximately ₦252 billion in industrial investments during the same period. The concentration around Lagos and Ogun reflects the importance of the two states to Nigeria’s manufacturing, logistics and wider business ecosystem.
Lagos remains a major commercial centre because of its access to ports, financial institutions, large consumer markets and established business infrastructure. Ogun, meanwhile, has continued to attract factories and industrial facilities because of its proximity to Lagos and availability of large areas for industrial development.
The investment figures also underline the importance of infrastructure, transportation, electricity and other operating conditions to companies deciding where to establish or expand their businesses.
The development comes at a time when manufacturers are also calling for policies that can reduce production costs and improve the ease of doing business. Higher energy, logistics and financing costs have remained major concerns for businesses operating in Nigeria.
With Lagos and Ogun accounting for such a large share of industrial investment, the figures could further strengthen calls for greater infrastructure development across other regions, allowing more states to compete for manufacturing projects and private-sector investment.
