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 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.

Governor Sanwo-Olu, who is the chairman of LIFC council, described the initiative as a strategic economic reform designed to strengthen Nigeria’s global competitiveness and position Lagos as a leading international financial hub.

He said the Lagos International Financial Centre project, conceived about two years ago, was designed to attract international capital, deepen financial markets, and create sustainable economic opportunities for the country.

Governor Sanwo-Olu commended EnterpriseNGR for the initiative and the work done so far, the United Kingdom Government and TheCityUK for providing technical and financial support in the formative phase, stressing that the development of a credible international financial centre required robust institutional frameworks and strategic investment partnerships.

He 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.

Speaking earlier, the co-chairman of LIFC, Mr. Aigboje Aig-Imoukhuede, commended the Lagos State government for a job well done in fostering the need to work with the ecosystem of actors in the private sector to bring about financial and economic growth.

He underscored the importance of private sector participation, describing the Lagos International Financial Centre as a collaborative economic ecosystem that requires strong partnerships between government and business institutions.

Aig-Imoukhuede said EnterpriseNGR had championed the initiative by drawing lessons from established global financial centres such as London, New York, and Kigali.

He said Lagos emerged as the preferred location for the project due to its economic strength, infrastructure capacity, and investor-friendly policies.

He described the completion of LIFC Phase 1 as a significant milestone, noting that Phase 2 would focus on policy reforms, legislative frameworks, and resource mobilisation to drive implementation.

“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, British Deputy High Commissioner, Jonny Baxter, applauded the Lagos State Government and EnterpriseNGR for driving the initiative and strengthening collaboration with federal institutions, noting that a well-structured financial centre would benefit the national economy.

He disclosed that the United Kingdom, through TheCityUK, was providing expertise to help identify Lagos’ comparative advantages and the regulatory reforms required to establish a globally competitive financial centre.

Baxter described the initiative as a major economic milestone capable of unlocking domestic and international capital flows into infrastructure development, job creation, and economic growth.

He said the LIFC project would bring about significant capital flow, create jobs, boost economic growth in Nigeria and ensure infrastructural development.

He said: “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.”

Lagos State Commissioner for Finance, Mr. Abayomi Oluyomi, said the journey required a lot of collaboration of investors in making the project a reality and a globally competitive platform.

READ ALSO: 

Gowon, Jonathan hail BSN for shaping Nigeria moral foundation

NGX: Market cap hits N110trn as investors gain N1.1trn

Naira ends week slightly lower at official market

JOHESU suspends 84-day nationwide strike, gives reason

Gunmen kill commercial motorcyclist, snatch motorcycle in Ondo

Expert to Tinubu: Demand strategic communication plans on 3m bopd target

‘Tears for Enebi’ to showcase at Miami beach film festival

Landlady arrested for allegedly poisoning tenant’s 3 year-old child

Press freedom, intelligence power, and Nigeria’s democratic signal to West Africa

The post Sanwo-Olu launches Lagos International Financial Centre phase 1 report appeared first on Frontpageng.

He said the Lagos State government, through the Lagos International Financial Centre, LIFC, which is being established in collaboration with EnterpriseNGR and other key stakeholders, will create an enabling environment that supports seamless trading, attracts foreign investment, and enhance the competitiveness of the financial markets.

Governor Sanwo-Olu spoke during an important meeting with licensed exchanges and key stakeholders on the Lagos International Financial Centre, LIFC, project, held at Lagos House, Marina, on Tuesday.

The high-level engagement with licensed exchanges is a strategic step towards reinforcing Lagos as Africa’s leading financial hub.

By addressing current market challenges and fostering strong government-private sector collaboration, the initiative will enhance capital market growth, attract global investments, and drive financial sector innovation in Lagos.

Sanwo-Olu, who is the co-Chairman of the LIFC Project, alongside Mr. Aigboje Aig-Imoukhuoede, said the collaboration between the Lagos State government, EnterpriseNGR, and other key stakeholders on the LIFC project was a testament to the collective commitment to strengthening Lagos’ position as Africa’s premier financial hub.

He said: “As Nigeria’s largest economic and financial centre, Lagos plays a critical role in driving the nation’s capital markets. Our licensed exchanges are at the heart of this ecosystem, facilitating investment flows, enhancing market liquidity, and promoting financial literacy.

“The Lagos State government is fully committed to fostering a market-driven, innovation-led financial sector. Through the LIFC project, in collaboration with EnterpriseNGR and other key stakeholders, we aim to create an enabling environment that supports seamless trading, attracts foreign investment, and enhances the competitiveness of our financial markets.

“This initiative will not only strengthen our market infrastructure but also unlock new opportunities for public-private partnerships in technology and capital market development.”

READ ALSO: Tinubu appoints new Accountant General of the Federation

Also speaking, the Co-Chairman of the LIFC Project, Mr. Aigboje Aig-Imoukhuede, charged the CEOs of Licensed Exchanges – Nigerian Exchange Group (NGX), FMDQ Group Plc., NASD OTC Security Exchange Limited, and Lagos Commodities and Future Exchange (LCFE)—to align global best practices with the Lagos financial ecosystem.

Aigboje Aig-Imoukhuede said the LIFC would be a game changer and therefore tasked the Licensed Exchanges in Nigeria to employ various strategies to enhance liquidity, innovation, and market depth.

Speaking during the meeting, the CEOs of Licensed Exchanges, expressed their commitment toward the success of the LIFC project to attract more investments into the state and ensure Lagos continues to lead as Nigeria’s financial epicentre.

During the meeting, which lasted over two hours, participants provided firsthand insights into the challenges and proposed solutions that will shape the future of Lagos as a world-class financial centre.

They also made recommendations that will help shape policies that enhance the financial markets and drive economic prosperity, as well as make Lagos a globally recognised financial powerhouse.

The post Sanwo-Olu: Lagos fully committed to fostering market-driven, innovation-led financial sector appeared first on Frontpageng.