Lagos State has partnered with EnterpriseNGR to establish the Lagos International Financial Centre (LIFC), a transformative project to boost economic growth.
This initiative aims to position Lagos as West Africa’s premier financial hub.
EnterpriseNGR announced the plan during its 2025 Quarterly Members’ Night in Victoria Island, attended by government leaders, investors, and global stakeholders. Discussions emphasized LIFC’s role in advancing Nigeria’s global financial competitiveness.
Representing Governor Babajide Sanwo-Olu, Finance Commissioner Abayomi Oluyomi stressed public-private collaboration to address infrastructure gaps. “LIFC will accelerate Lagos’ development by strengthening economic and financial systems,” he declared.
Governor Sanwo-Olu affirmed unwavering support, vowing to prioritize LIFC’s success. “We will implement measures to ensure this hub attracts foreign investment and global capital,” he stated. The governor highlighted LIFC’s potential to make Lagos an investor-friendly destination.
Co-Chairman Aigboje Aig-Imoukhuede called LIFC a “national imperative” blending global standards with Nigeria’s strengths. “Global capital favors predictable, profitable markets—Lagos will embody these qualities,” he asserted.
He further outlined LIFC’s benefits: deepening capital markets, boosting foreign investment, and spurring innovation. “This initiative will elevate Nigeria’s global economic standing,” Aig-Imoukhuede added.
High-level panels at the event explored LIFC’s role in tackling economic challenges. Attendees included Commerce Commissioner Folashade Ambrose-Medebem and Economic Planning Commissioner Mosopefolu George, signaling cross-governmental commitment.
Backed by international partners like The CityUK, LIFC will align with global frameworks to ensure investor confidence. The project aims to diversify Nigeria’s economy while fostering sectoral innovation.
Stakeholders expressed optimism about LIFC’s potential to redefine Lagos’ economy. By attracting long-term finance, the hub could catalyze job creation and sustainable development.
As momentum builds, Lagos inches closer to becoming Africa’s largest financial center. The initiative underscores Nigeria’s ambition to compete globally while addressing domestic economic needs.
Final preparations will focus on regulatory reforms and infrastructure upgrades. Success hinges on sustained collaboration between public institutions, private firms, and international allies.
LIFC’s launch marks a pivotal step in Nigeria’s financial evolution. If executed strategically, it could reshape West Africa’s economic landscape, positioning Lagos as a beacon for global capital.
