Governor Babajide Sanwo-Olu of Lagos has called on stakeholders in the public and private sectors to sustain collaboration toward positioning the state as a global financial hub through the Lagos International Financial Centre (LIFC).
The governor made the call at the launch of the LIFC Phase 1 Report in Lagos, according to a statement by his Special Adviser on Media and Publicity, Mr Gboyega Akosile, released on Sunday.
Sanwo-Olu said the LIFC project, conceived about two years ago, was designed to attract international capital, deepen financial markets, and create sustainable economic opportunities for Nigeria.
“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.
As Chairman of the LIFC Council, the governor reaffirmed his administration’s commitment to establishing the financial centre, describing it as a strategic economic reform to strengthen Nigeria’s global competitiveness.
“We have designed a model that involves both state and national institutions so the project becomes institutional rather than personality-driven.
“It is about building a sustainable structure that will outlive any administration,” he said.
Sanwo-Olu commended EnterpriseNGR for driving the initiative and thanked the United Kingdom Government and TheCityUK for their technical and financial support during the formative phase.
He noted that developing a credible international financial centre requires strong institutional frameworks and strategic investment partnerships.
Earlier, co-Chairman of LIFC, Mr Aigboje Aig-Imoukhuede, said the project was built on strong government-private sector collaboration to stimulate financial and economic growth.
He described the completion of Phase 1 as a milestone, noting that Phase 2 would focus on policy reforms, legislative frameworks, and resource mobilization.
“The scale and impact of the Lagos International Financial Centre will go beyond the Nigerian Stock Exchange.
“It will strengthen capital mobilization, expand financial institutions, and position Nigeria as a global financial destination,” Aig-Imoukhuede said.
British Deputy High Commissioner to Nigeria, Mr Jonny Baxter, applauded the Lagos State Government and EnterpriseNGR for strengthening collaboration with federal institutions.
He said a well-structured international financial centre would unlock domestic and international capital flows into infrastructure, job creation, and economic growth.
“A 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,” Baxter said.
Lagos Commissioner for Finance, Mr Abayomi Oluyomi, said the success of the project would depend largely on sustained collaboration with investors and key stakeholders.
He expressed confidence that the LIFC would emerge as a globally competitive platform capable of transforming the state into a major financial destination.
The Lagos International Financial Centre is a joint initiative of the Lagos State Government and EnterpriseNGR.
It is designed to provide a clear strategy and implementation pathway for deepening Nigeria’s financial markets and fostering innovation.
