Lagos State Governor, Babajide Sanwo-Olu, has reaffirmed the state’s commitment to a long-term vision of transforming Lagos into a leading global financial hub, comparable to London in the United Kingdom and New York in the United States.
The initiative, which has spanned nearly a decade, is aimed at strengthening Lagos’ position as Africa’s financial capital while attracting global investment and boosting economic competitiveness. The governor said the vision is anchored on creating a business-friendly environment supported by strong institutions, modern infrastructure, and sound financial policies.
Under the strategy, Lagos continues to invest in regulatory reforms, digital innovation, and infrastructure development designed to enhance confidence among local and international investors. Key sectors such as banking, fintech, capital markets, and professional services are expected to play a central role in driving the transformation.
Governor Sanwo-Olu noted that the state’s economic resilience and large market size provide a solid foundation for achieving global relevance in the financial services sector. He emphasized that positioning Lagos as an international financial centre will unlock new opportunities for job creation, improve revenue generation, and increase access to capital for businesses across Nigeria and the wider African region.
The governor also stressed the importance of partnerships with the private sector, international development agencies, and global financial institutions to ensure the success of the project. According to him, sustained collaboration will help align Lagos with global best practices in governance, transparency, and service delivery.
Observers believe that Lagos’ strategic location, youthful population, and expanding digital economy place it in a strong position to compete with other emerging financial centres worldwide. However, the success of the ambition will depend on continuous reforms, policy consistency, and the ability to maintain investor confidence.
Sanwo-Olu reiterated that the goal is not only to raise Lagos’ global profile but also to ensure that the benefits of growth are widely shared among residents through improved infrastructure, employment opportunities, and economic inclusion.
With steady progress being made, Lagos’ journey toward becoming a global financial hub remains a key pillar of the state’s long-term economic development agenda.
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