Lagos State Governor, Babajide Sanwo-Olu, has urged public and private sector stakeholders to deepen collaboration in order to position the state as a global financial hub through the Lagos International Financial Centre (LIFC).
The governor made the call at the launch of the Phase 1 Report of the Lagos International Financial Centre in Lagos, according to a statement issued on Sunday by his Special Adviser on Media and Publicity, Gboyega Akosile.
Sanwo-Olu said the LIFC project, conceived about two years ago, was designed to attract international capital, deepen Nigeria’s financial markets and create sustainable economic opportunities for the country.
“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 Nigeria’s financial ecosystem,” he said.
The governor, who chairs the LIFC Council, reaffirmed his administration’s commitment to the project, describing it as a key economic reform aimed at boosting Nigeria’s global competitiveness.
He explained that the initiative was structured to involve both state and national institutions to ensure sustainability beyond individual administrations.
“We have designed a model that is institutional rather than personality-driven. It is about building a structure that will outlive any administration,” Sanwo-Olu said.
He also commended EnterpriseNGR for driving the initiative and appreciated the United Kingdom Government and TheCityUK for providing technical and financial support during the project’s formative stage. According to him, the success of a credible international financial centre depends on strong institutional frameworks and strategic investment partnerships.
Earlier, the Co-Chairman of the LIFC, Aigboje Aig-Imoukhuede, said the project was founded on robust collaboration between the government and private sector players to stimulate financial and economic growth.
He described the completion of Phase 1 as a major milestone, adding that Phase 2 would focus on policy reforms, legislative frameworks and resource mobilisation.
“The 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,” he said.
Also speaking, the British Deputy High Commissioner to Nigeria, Jonny Baxter, praised the Lagos State Government and EnterpriseNGR for fostering strong collaboration with federal institutions. He noted that a well-structured international financial centre would unlock both domestic and international capital flows.
“These resources will support infrastructure development, boost productive sectors and create employment opportunities,” Baxter said.
In his remarks, the Lagos State Commissioner for Finance, Abayomi Oluyomi, said the success of the project would depend largely on sustained engagement with investors and key stakeholders. He expressed confidence that the LIFC would evolve into a globally competitive platform capable of transforming Lagos into a major international financial destination.
The Lagos International Financial Centre is a joint initiative of the Lagos State Government and EnterpriseNGR, aimed at providing a clear strategy and implementation pathway for deepening Nigeria’s financial markets and fostering innovation.
