Lagos State Governor, Babajide Sanwo-Olu, has reiterated his administration’s dedication to establishing the Lagos International Financial Centre (LIFC), calling on public and private sector stakeholders to maintain collaboration in positioning Lagos as a leading global financial hub.
Speaking at the unveiling of the LIFC Phase 1 Report at the Lagos State House, Marina, Governor Sanwo-Olu described the project as a strategic economic reform aimed at strengthening Nigeria’s global competitiveness, attracting international capital, deepening financial markets, and creating sustainable economic opportunities.
“For me, it is all about leadership and confidence. If you can dream it and envision it, then you can achieve it. The foundation we are laying today is for the future of our economy, our children, and generations to come,” he said, emphasizing that the project seeks to create a lasting economic legacy beyond any single administration.
Sanwo-Olu noted that substantial groundwork has already been completed, including policy engagements, technical partnerships, and institutional capacity building. The next phase, he said, would focus on implementation and structural reforms, with key state and federal institutions integrated into the project to ensure continuity across political transitions.
He also highlighted the critical role of public-private collaboration, risk-sharing, and joint investment strategies in achieving the LIFC’s objectives.
International and Private Sector Support
British Deputy High Commissioner, Jonny Baxter, described LIFC as a major milestone capable of unlocking domestic and international capital flows, supporting infrastructure development, boosting productive sectors, and creating jobs. He noted that TheCityUK and the UK government were providing technical expertise to identify Lagos’ comparative advantages and regulatory reforms needed for a globally competitive financial centre.
Co-chairman of the LIFCC, Aigboje Aig-Imokhuede, stressed that the LIFC is a collaborative economic ecosystem requiring strong government-business partnerships. He noted that lessons from global financial centres such as London, New York, and Kigali informed the project and that Lagos was chosen for its economic strength, infrastructure, and investor-friendly policies.
Phase 1 of the LIFC has now been completed, with Phase 2 set to focus on policy reforms, legislative frameworks, and resource mobilisation to drive implementation. Aig-Imokhuede emphasized that the project will extend beyond the Nigerian Stock Exchange, strengthening capital mobilisation, expanding financial institutions, and positioning Nigeria as a global financial destination.
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