By Ayomide Otitoju
The Lagos State Government, in collaboration with EnterpriseNGR under the Lagos International Financial Centre (LIFC) platform, has urged both local and foreign investors to support the establishment of an International Financial Centre in Lagos to bolster economic and financial growth.
Speaking at EnterpriseNGR’s first Quarterly Members’ Night of 2025, held in Victoria Island, Lagos, Governor Babajide Sanwo-Olu and the Co-Chairman of the LIFC Council, Mr. Aigboje Aig-Imoukhuede, emphasized that the LIFC would facilitate private international capital inflows to finance development and growth in Lagos and Nigeria.
The event, attended by key Lagos State Government officials—including Commissioner for Finance, Mr. Abayomi Oluyomi; Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem; and Commissioner for Economic Planning and Budget, Mr. Mosopefolu George—brought together industry leaders, foreign partners, and media stakeholders. The discussions focused on the vision of the Lagos International Financial Centre and its role in advancing Nigeria’s position as a globally competitive financial hub.
Representing Governor Sanwo-Olu, Commissioner for Finance Abayomi Oluyomi highlighted the importance of the LIFC in bridging Lagos’ infrastructural financing gap. He called on the private sector to partner with the government and the LIFC Council to drive economic and financial progress in the state.
“We believe the establishment of the Lagos International Financial Centre will significantly aid infrastructure financing. It is a hub designed to promote the development of both economic and financial systems in Nigeria. If successfully implemented, it will propel Lagos into global competitiveness,” Oluyomi stated.
He reaffirmed the government’s commitment to the project, noting that Governor Sanwo-Olu is fully backing the initiative. “Whatever is needed to ensure the establishment and success of the Lagos International Financial Centre, we are prepared to do it,” he added.
The Co-Chairman of the LIFC Council and Chairman of EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede, described the LIFC as a “national strategic imperative” and a transformative platform that will attract international capital, deepen markets, and enhance Nigeria’s global financial competitiveness.
“The LIFC is our collective response to the reality that global capital now gravitates toward jurisdictions that are familiar, predictable, profitable, and open. Lagos is set to become West Africa’s first and Africa’s largest international financial centre,” he said.
“With the backing of the Lagos State Government and our partners at The CityUK, we are developing a centre that aligns with international best practices while leveraging Nigeria’s unique advantages. If executed with precision and foresight, the LIFC will be a game-changer for Lagos, Nigeria, and the entire African continent,” Aig-Imoukhuede added.
He further highlighted that the LIFC would strengthen domestic capital markets, improve access to long-term finance, attract Foreign Direct Investment (FDI), drive economic diversification, and foster innovation across various industries.
