Sanwo-Olu seeks stakeholders’ collaboration to position Lagos as global financial hub

By Olasunkanmi Akoni

LAGOS – Lagos State Governor, Babajide Sanwo-Olu, has called on stakeholders across the public and private sectors to sustain collaboration aimed at positioning Lagos as a global financial hub through the Lagos International Financial Centre (LIFC).

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 Lagos State and Nigeria at large.

The governor, who chairs the LIFC Council, spoke at the launch of the LIFC Phase 1 Report held at Lagos House, Marina. He reaffirmed his administration’s commitment to the initiative, describing it as a strategic economic reform to enhance Nigeria’s global competitiveness and establish Lagos as a leading international financial centre.

LIFC is a Lagos State Government initiative in partnership with EnterpriseNGR, outlining strategies and pathways for implementing reforms aimed at transforming Nigeria’s economic growth, deepening financial markets, and fostering innovation.

Sanwo-Olu commended EnterpriseNGR for its role in the project and acknowledged the support of the United Kingdom Government and TheCityUK for providing technical and financial assistance during the formative phase. He emphasised that building a credible international financial centre requires strong institutional frameworks and long-term partnerships.

“The foundation we are laying today is for the future of our economy and generations to come. This is not just about Lagos but about creating an enduring economic legacy for Nigeria,” Sanwo-Olu said.

Also speaking, the Co-Chairman of LIFC, Mr. Aigboje Aig-Imoukhuede, stressed the importance of private sector participation, describing the initiative as a collaborative ecosystem requiring strong government-business partnerships. He noted that the completion of Phase 1 marks a major milestone, while Phase 2 will focus on policy reforms, legislative frameworks, and resource mobilisation.

British Deputy High Commissioner, Jonny Baxter, praised the initiative, noting that the United Kingdom, through TheCityUK, is supporting Lagos with expertise to identify comparative advantages and necessary regulatory reforms.

Lagos State Commissioner for Finance, Mr. Abayomi Oluyomi, said sustained investor collaboration would be critical to delivering a globally competitive financial centre.

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