The Lagos State Government have called on foreign and local investors to support and partner with it for the establishment of an International Financial Centre in Lagos to drive economic and financial growth.

Governor Babajide Sanwo-Olu made the appeal on Tuesday at the EnterpriseNGR’s first Quarterly Members’ Night of 2025 held in Victoria Island.

According to a statement on Tuesday, the governor explained that the establishment of the Lagos International Financial Centre would bridge the infrastructure deficit in the state.

Sanwo-Olu, who was represented by the Commissioner for Finance, Mr Abayomi Oluyomi, stressed that partnership with the private sector investors was critical to the success of the financial centre.

He said, “We believe the establishment of the Lagos International Financial Centre will aid the financing of the infrastructural gap. It is a hub that promotes the development of both economic and financial systems in Nigeria. If we can establish the Lagos International Financial Centre, it will, in a geometric way, leapfrog the development of Lagos State for Lagos to be able to compete with global cities.

“The Lagos State Government, particularly Mr Governor, is very supportive, and he is driving the initiative. So, whatever is needed for us to make sure that the Lagos International Financial Centre is established and developed, we will do it.

The Lagos International Financial Centre will tremendously transform the economy of Lagos State and Nigeria as a whole. It will become a magnet that attracts the capital that we have been looking for. It magnetises the flow of investments, Foreign Direct Investment. It will make Lagos the destination of choice.”

In his address, the Co-Chairman of the LIFC Council and Chairman of EnterpriseNGR, Aigboje Aig-Imoukhuede, described the LIFC as a “national strategic imperative and a transformative platform” that would attract international capital and elevate Nigeria’s competitiveness.

He stressed that the establishment of the centre would position Lagos State as the first to host such an institution in West Africa.

“The LIFC is our collective response to the reality that global capital now gravitates to jurisdictions that are familiar, predictable, profitable, and open. Lagos is poised to become West Africa’s first and Africa’s largest international financial centre.

“With the support of the Lagos State Government and our partners at The CityUK, we are building a centre that aligns with international best practices while leveraging Nigeria’s natural advantages,” he said.


https://punchng.com/lasg-seeks-private-sectors-support-for-financial-centre/