Lagos State Governor, Babajide Sanwo-Olu, has reaffirmed his administrationâs commitment to establishing the Lagos International Financial Centre (LIFC), urging stakeholders across the public and private sectors to sustain collaboration toward positioning Lagos as a global financial hub.
The event held at the Lagos State House, Marina, Governor Babajide Sanwo-Olu, who chairs the Lagos LIFCC, spoke during the unveiling of the LIFC Phase 1 Report, describing the initiative as a strategic economic reform designed to strengthen Nigeriaâs global competitiveness and position Lagos as a leading international financial hub.
The governor said the project, conceived about two years ago, was designed to attract international capital, deepen financial markets, and create sustainable economic opportunities for the country.
He stressed that the initiative was anchored on long-term vision and strong institutional backing, noting that its success would depend largely on sustained stakeholder support and policy continuity.
Sanwo-Olu said, âFor 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. This is not just about Lagos; it is about building an economic legacy that will transform Nigeriaâs financial ecosystem.â
He noted that substantial groundwork had been completed through policy engagements, technical partnerships, and institutional capacity building, adding that the next phase would focus on implementation and structural reforms.
The governor commended the United Kingdom government and TheCityUK for providing technical and financial support, stressing that the development of a credible international financial centre requires robust institutional frameworks and strategic investment partnerships.
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Sanwo-Olu also emphasised the need to insulate the project from political transitions, revealing that key state and federal institutions were already being integrated into the implementation structure.
âWe have designed a model that involves both state and national institutions so that the project becomes institutional rather than personality-driven. It is about building a sustainable structure that will outlive any administration,â he said.
He urged stronger synergy between the public and private sectors, noting that risk-sharing and joint investment strategies were critical to achieving the projectâs objectives.
British Deputy High Commissioner, Jonny Baxter described the initiative as a major economic milestone capable of unlocking domestic and international capital flows into infrastructure development, job creation, and economic growth.
He lauded the Lagos State Government and EnterpriseNGR for driving the initiative and strengthening collaboration with federal institutions, noting that a well-structured financial centre would benefit the national economy.
âA well-designed international financial centre can unlock significant domestic and international capital flows. These resources will support infrastructure development, boost productive sectors, and create employment opportunities,â he said.
He added that the United Kingdom, through TheCityUK, was providing expertise to help identify Lagosâ comparative advantages and the regulatory reforms required to establish a globally competitive financial centre.
Co-chairman of the LIFCC, Aigboje Aig-Imokhuede, underscored the importance of private sector participation, describing the LIFC as a collaborative economic ecosystem that requires strong partnerships between government and business institutions.
He said EnterpriseNGR had championed the initiative by drawing lessons from established global financial centres such as London, New York, and Kigali.
According to him, Lagos emerged as the preferred location for the project due to its economic strength, infrastructure capacity, and investor-friendly policies.
Aig-Imokhuede described the completion of Phase 1 as a significant milestone, noting that Phase 2 would focus on policy reforms, legislative frameworks, and resource mobilisation to drive implementation.
âThe scale and impact of the Lagos International Financial Centre will go beyond the Nigerian Stock Exchange. It will strengthen capital mobilisation, expand financial institutions and position Nigeria as a global financial destination,â he said.







