Top 10 Best States for Business in Nigeria (2024)

Most Viable States for Business in Nigeria

Environment is very crucial to starting a business in every society like Nigeria. Some states in Nigeria based on certain factors and logistics gives businesses better survival and growth opportunities.

largest market in nigeria

The population of Nigeria is her biggest asset for business growth.TheĀ  is made up of 36 states and federal capital territory.

All these states has an average of 3 million people living in them. We will look at best states in Nigeria to do business.

Entrepreneurship is the bedrock of every society, Nigeria inclusive.Greater population of Nigerians are into SMEs which stands for small and medium business enterprises.

Law permits every Nigerian to live and do business at every states and parts of the country. But there are some states in Nigeria where entrepreneurs move their businesses to most. These are best states for a business in Nigeria.

Oftentimes, many Nigerians spend so much time deciding on what states or city is best suited for their businesses in Nigeria.

Every Nigerian states has its peculiar challenges as well as prospects.

Also choosing best destinations for business in Nigeria has to do with the customer targets.

However, on general terms, some Nigerian states, cities are more viable for businesses than others.

This can be as result of their population, or strategic locations or infrastructure in those places.

So these states or cities are termed the best states or cities for business in Nigeria.

In this post, we will have come up with a list of best states in Nigeria for business.

These are states and cities with most viable prospects for startups in Nigeria.

Best Cities To Start Business in Nigeria

The business potential of Nigerian states and cities are not even.

Some state are more viable and have more potentials than others.

However, this does not take away the fact that every Nigerian state and cities has business potential provided an articulate feasibility studies were carried out before investing in a sector.

Based on studies carried out by our team of editors and considering some parameters like population, infrastructure, location and security, there are some states and cities in Nigeria that are top business destination states and cities in Nigeria.

Below are best states and cities for business in Nigeria.

Lagos (Lagos State)

Lagos State is the best state for business in Nigeria for a number of reasons like population, infrastructure, location and security.

The best business destination in Nigeria is Lagos state by miles.

The state and cities is the most populous in Nigeria and West Africa.

It is gateway way for Nigeria’s international trade as the city is surrounded by Atlantic Ocean.

It is the only state in Nigeria with a functional international airport and seaports.

Numerous Nigerians and foreigners are indulged in diverse businesses across Lagos and are making it big.

It is also the major gateway for exports in Nigeria.

Lagos has the best infrastructure and security systems in Nigeria.

It is the best city to do business in Nigeria by far.

Onitsha (Anambra State)

Another top business destination in Nigeria is Anambra state in eastern Nigeria.

The state houses a city called Onitsha which is home to the highest number of markets in a single city in West Africa.

Onitsha and Anambra State is strategically located across Niger River and serves as commercial link between the northern Nigeria and Southern Nigeria.

Onitsha is one of the oldest and major commercial cities in Nigeria.

With an international cargo airport set up in the state, Anambra is one of the best states for business in Nigeria.

Also, the state is second most densely populated states in Nigeria.

Kano (Kano state)

Kano is the commercial center of northern Nigeria.

It is one of the best cities to do business in Nigeria.

Kano state has the largest population in Nigeria behind Lagos.

Most northern states in Nigeria depend on Kano state for their commercial supplies and businesses.

Security in Kano State has been impressive considering what the situation is in northern Nigeria.

Kano is also the only northern state with highest number of non indigenes all engaged in businesses.

The state has the population, infrastructure snd security needed for growth of business.

Kano state remain the best state for business in Northern Nigeria.

Port Harcourt (Rivers State)

Another state that is investment destination in Nigeria is the oil rich Rivers state and particularly her capital, Port Harcourt city.

Rivers state is one of the most populous states in Nigeria and has solid infrastructure and amenities that aids in growth of business.

The state is one of the richest in Nigeria and is the most commercilised state in southsouth geo political zone of Nigeria.

The state has a teeming population and is the second state with highest number of industries in Nigeria.

It is among top states for business in Nigeria.

Yola & Mubi (Adamawa State)

Another state in North Nigeria that is among the best states for business is Adamawa state.

The state shares boarders with some west Africa countries like Cameroon, Chad and Niger.

Most exports to these west African nations happen through the state.

As a result, economic and business activities is booming and always evergreen in the state.

It is no doubt a top state to do business in Northern Nigeria.

FCT (Abuja)

Also, another state or city in Nigeria where businesses growth faster in Nigeria is Abuja, the federal capital territory.

The city is also densely populated and has solid infrastructure that aids businesses.

Security in and around the city is goods. The money circulation in the city is very good for startup growth.

It is among the top 5 states with highest money circulation in Nigeria.

Ibadan (Oyo State)

Oyo state is one of the most populated states in Nigeria.

This makes her an asset for business growth.

The state is also a border state and it shares territory with a Benin Republic.

The capital of the state, Ibadan has been ancient commercial town.

Till date, the city still witness high economic activities.

Amenities like electricity and good roads has put the state in best investment destinations in Nigeria.

Calabar (Cross River State)

This is another boarder state in Nigeria that is among the best states for business in Nigeria.

Through Ikom town, the state shares boarders with Cameroon.

This gave rise to high demands and growth of businesses.

Also, security at the state is can be termed good considering what obtains in most parts of the country.

It among the best states for business in southsouth Nigeria.

Abeokuta (Ogun State)

After Lagos state, Ogun state has the highest number of Industrial clusters in Nigeria.

This is because investors find the state as viable and also a good state to do business in Nigeria.

Ogun state is very close to Lagos, Nigeria’s commercial capital and so is not Suprising that most businesses and industry operates from there because of proximity to Lagos.

So Ogun and its capital, Abeokuta is among the best business destinations among Nigerian states.

Kaduna (Kaduna State)

Kaduna State is another state in Northern Nigeria that is very viable for business.

Cities like Kafachan, Zaria are thickly populated and presents a good business opportunities for investors.

It is the capital of Nigeria military warehouses and its proximity to Abuja, Nigeria Federal capital territory is another advantage that places it on the league of best states for business in Nigeria.


The Author

Emmanuel Igwenagu

Igwenagu Emmanuel is the founder of Nigerian Informer. He holds B.A, M.Sc in Mass Communication. He is a Communication researcher and 112 emergency help line dispatcher.

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