The Lagos State Government has called on both foreign and local investors to collaborate in the creation of the Lagos International Financial Centre (LIFC), a landmark initiative designed to drive economic and financial growth for Lagos and Nigeria.
Governor Babajide Sanwo-Olu made the appeal on Tuesday at the EnterpriseNGR’s first Quarterly Members’ Night of 2025, held in Victoria Island.
Represented by the Commissioner for Finance, Mr. Abayomi Oluyomi, Sanwo-Olu highlighted the crucial role that private sector investment would play in the success of the LIFC. He stated, “We believe the establishment of the Lagos International Financial Centre will aid the financing of the infrastructural gap.
It is a hub that promotes the development of both economic and financial systems in Nigeria.”
Sanwo-Olu emphasized that the LIFC would play a transformative role in bridging Lagos’ infrastructure deficit, helping the state compete with global financial centers.
“If we can establish the Lagos International Financial Centre, it will, in a geometric way, leapfrog the development of Lagos State,” he added.
“The Lagos State Government, particularly Mr. Governor, is very supportive, and he is driving the initiative.”
Aigboje Aig-Imoukhuede, Co-Chairman of the LIFC Council and Chairman of EnterpriseNGR, described the project as a “national strategic imperative” that would elevate Nigeria’s competitiveness and attract international capital.
“The LIFC is our collective response to the reality that global capital now gravitates to jurisdictions that are familiar, predictable, profitable, and open,” Aig-Imoukhuede explained.
He further stated that the establishment of the LIFC would position Lagos as West Africa’s first and Africa’s largest international financial center, signaling a significant shift in the region’s financial landscape.
The project is expected to not only attract foreign direct investments but also enhance Lagos’ status as a global financial hub.