LASG inaugurates phase 1 report of Lagos International Financial Centre
The Lagos State Government, in partnership with EnterpriseNGR, launched the Lagos International Financial Centre (LIFC) Phase 1 Report on Thursday.
This project is expected to capture the strategy and pathway for implementing initiatives that will transform Nigeria’s economic growth, deepen the financial market, and foster innovation.
Western Post reports that the LIFC Phase 1 Report was launched at the Lagos House, Marina, by Lagos State Governor, Mr. Babajide Sanwo-Olu, and members of the Lagos International Financial Centre Council.
Speaking during the programme, Governor Sanwo-Olu described the initiative as a strategic economic reform designed to strengthen Nigeria’s global competitiveness and position Lagos as a leading international financial hub. Furthermore, he reaffirmed his administration’s commitment to establishing the Lagos International Financial Centre and urged stakeholders across the public and private sectors to sustain collaboration toward positioning Lagos as a global financial hub.
According to the governor, the Lagos International Financial Centre project was conceived about two years ago to attract international capital, deepen financial markets, and create sustainable economic opportunities for the country.
In addition, Governor Sanwo-Olu equally commended EnterpriseNGR for the initiative and the work done so far, the United Kingdom and TheCityUK for providing technical and financial support in the formative phase, while stressing that the development of a credible international financial centre requires robust institutional frameworks and strategic investment partnerships.
The Governor said, “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. This is not just about Lagos; it is about building an economic legacy that will transform Nigeria’s financial ecosystem. The substantial groundwork had been completed through policy engagements, technical partnerships, and institutional capacity building. The next phase would focus on implementation and structural reforms. We 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”.
Governor Sanwo-Olu urged stronger synergy between the public and private sectors, noting that risk-sharing and joint investment strategies were critical to achieving the project’s objectives.
