Lagos State Governor, Babajide Sanwo-Olu, has launched the Phase One Report of the Lagos International Financial Centre (LIFC), describing it as a major step toward strengthening Nigeria’s economic future and positioning Lagos as a global financial hub.
The governor said the unveiling of the report marks a critical milestone in the state’s long-term vision to build a world-class financial centre anchored on strong institutions, credible partnerships, and disciplined execution. He noted that the initiative is being developed in collaboration with EnterpriseNGR, the United Kingdom Government, and TheCityUK.
According to Sanwo-Olu, establishing a credible international financial centre requires more than infrastructure; it demands sound regulation, trusted stakeholders, and consistent policy direction. He commended the partners for their technical expertise and continued support in shaping the framework for the project.
The governor explained that the completion of the Phase One Report signals the transition from planning to execution, as the state moves to implement key recommendations aimed at strengthening Lagos’ financial ecosystem. He said the next phase will focus on building systems that attract investment, promote innovation, and expand access to financial services.
Sanwo-Olu emphasized that the Lagos International Financial Centre is designed to serve not only the state but the entire country by creating new opportunities for businesses, financial institutions, and young professionals. He added that the project aligns with broader efforts to diversify the economy and make Nigeria more competitive in the global financial market.
He further stated that a functional financial centre would support the growth of fintech, capital markets, and professional services, while enhancing confidence in Nigeria’s financial system.
The governor reaffirmed the commitment of the Lagos State Government to work closely with both local and international partners to ensure the successful delivery of the project. He said the goal is to build a financial system that drives sustainable development, supports enterprise, and creates long-term value for future generations.
The launch of the Phase One Report represents a significant foundation for the Lagos International Financial Centre, as the state prepares to translate strategy into action and strengthen its role in Africa’s financial landscape.
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