Lagos State Governor Babajide Sanwo-Olu has reiterated his administration’s resolve to deliver the Lagos International Financial Centre (LIFC), calling on public and private sector stakeholders to deepen cooperation in order to position Lagos as a global financial hub.
The governor made the call at the unveiling of the Phase 1 report of the LIFC at the Lagos State House, Marina.
Sanwo-Olu, who chairs the Lagos International Financial Centre Council (LIFCC), described the project as a far-reaching economic reform aimed at boosting Nigeria’s global competitiveness and elevating Lagos into the ranks of leading international financial centres.
He explained that the initiative, conceived about two years ago, was designed to attract foreign capital, deepen financial markets and unlock sustainable economic opportunities for the country. According to him, the success of the project rests on a clear long-term vision, strong institutions and consistent policy support.
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“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,” Sanwo-Olu said.
The governor noted that significant preparatory work had already been done through policy consultations, technical partnerships and institutional capacity development, adding that attention would now shift to implementation and critical structural reforms.
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He also acknowledged the support of the United Kingdom government and TheCityUK, stressing that building a credible international financial centre required a strong institutional framework and strategic investment partnerships.
Sanwo-Olu further emphasised the need to protect the project from political changes, revealing that both state and federal institutions were being embedded in the implementation framework to ensure continuity.
“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,” he said.
Calling for closer public-private sector collaboration, the governor said shared risk and joint investment strategies would be vital to achieving the LIFC’s objectives.
Also speaking at the event, British Deputy High Commissioner Jonny Baxter described the initiative as a significant economic milestone capable of attracting domestic and international capital for infrastructure development, job creation and economic growth. He commended the Lagos State Government and EnterpriseNGR for driving the project and strengthening ties with federal institutions.
Co-Chairman of the LIFCC, Aigboje Aig-Imokhuede, highlighted the central role of the private sector, describing the LIFC as a collaborative economic ecosystem that depends on strong partnerships between government and business.
He said EnterpriseNGR had played a leading role in advancing the initiative by drawing lessons from established global financial centres such as London, New York and Kigali.
