Lagos State Governor, Babajide Sanwo-Olu, has joined the Secretary to the Government of the Federation (SGF), Senator George Akume, in Abuja for the inaugural meeting of the initiative aimed at facilitating the implementation of the Lagos International Financial Centre (LIFC).
The meeting marked a significant step towards strengthening collaboration between the Lagos State Government, the Federal Government and other stakeholders in advancing the establishment of the proposed financial centre.
According to Sanwo-Olu, the Office of the SGF is coordinating relevant Ministries, Departments and Agencies (MDAs), as well as key stakeholders, to establish an effective interagency coordination mechanism for the successful implementation of the LIFC.
The Lagos International Financial Centre is a flagship initiative of the Lagos State Government and EnterpriseNGR, with strong support from the Federal Government of Nigeria. The initiative is designed to position Lagos as the financial capital of Africa and a globally competitive hub for green and sustainable finance, fintech and innovation, commodities, and capital markets.
Sanwo-Olu recalled that in November 2023, he issued an Executive Order formally establishing the LIFC and constituting the LIFC Council as the principal governance body responsible for providing strategic direction for the initiative.
He explained that the project has now entered the third phase of its implementation plan, with the Federal Government inaugurating a National Steering Committee to work closely with the Lagos State Government and other stakeholders.
The Governor said the development represents an important milestone in the collective efforts to transform Lagos into a major international financial destination capable of attracting investment, promoting innovation and strengthening Nigeria’s position in the global financial ecosystem.
He expressed optimism that the collaboration between Lagos and the Federal Government would accelerate the realisation of the LIFC and create an enabling environment for businesses, investors and financial institutions.
Sanwo-Olu stressed that the successful implementation of the initiative would not only strengthen Lagos’ financial ecosystem but also contribute significantly to Nigeria’s economic growth and global competitiveness.
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