Lagos is Nigeria’s financial, commercial and industrial nerve centre with over 2,000 manufacturing industries and over 200 financial institutions (Banks, Insurance companies etc) including the nation’s premier stock exchange, the Nigeria Stock Exchange.'s
It also houses the nation’s monetary authority, the Central Bank of Nigeria (CBN) and the Security and Exchange Commission (SEC). The State alone harbours 60% of the Federation’s total industrial investments and foreign trade while also attracting 65% of Nigeria’s commercial activities. It also accounts for more than 40% of all labour emoluments paid in the country.
Indeed, the headquarters of multinational conglomerates like UAC, Unilever, John Holts, BEWAC/VYB, Leventis, Churchgate, Chevron, Shell, Exxonmobil and the nation’s giant public enterprises are all located within the State.
However, Lagos State is not industrially saturated. There exists a vast potential of underdeveloped land in the Eti-Osa Area of Lagos, Badagry, Epe, Ikeja and Ikorodu Divisions.
In a bid to decongest the Ikeja and Lagos Industrial Estates and thus open up other areas for development, the State Governement has provided small scale industrial estates in all of the State’s 20 Local Government Areas and 37 Development Councils.