Sanwo-Olu Unveils Lagos Financial Hub Blueprint

Lagos State Governor Babajide Sanwo-Olu has reaffirmed his administration’s commitment to establishing Lagos International Financial Centre (LIFC).

He urged stakeholders across public and private sectors to sustain collaboration toward positioning Lagos as a global financial hub.

Speaking at the unveiling of LIFC Phase 1 report held at Lagos State House, Marina, Governor Sanwo-Olu, who chairs the Lagos LIFCC, described the initiative as a strategic economic reform designed to strengthen Nigeria’s global competitiveness and position Lagos as a leading international financial hub.

The governor said the project, conceived about two years ago, was designed to attract international capital, deepen financial markets and create sustainable economic opportunities for the country.

He said the initiative was anchored on long-term vision and strong institutional backing, noting that its success would depend on sustained stakeholder support and policy continuity.

Sanwo-Olu added: “For me, it is all about leadership and confidence. If you can dream it and envision it, then you can achieve it. The foundation we are laying today is for the future of our economy, our children and generations to come. This is not just about Lagos; it is about building an economic legacy that will transform Nigeria’s financial ecosystem.”

He said substantial groundwork had been completed through policy engagements, technical partnerships and institutional capacity building, noting that the next phase would focus on implementation and structural reforms.

The governor hailed the United Kingdom government and TheCityUK for providing technical and financial support, stressing that the development of a credible international financial centre required robust institutional framework and strategic investment partnership.

Sanwo-Olu emphasized the need to insulate the project from political transitions, revealing that key state and federal institutions were already being integrated into the implementation structure.

“We have designed a model that involves both state and national institutions so that the project becomes institutional rather than personality-driven. It is about building a sustainable structure that will outlive any administration,” he said.

He urged stronger synergy between the public and private sectors, noting that risk-sharing and joint investment strategies were critical to achieving the project’s objectives.

British Deputy High Commissioner, Jonny Baxter, described the initiative as a major economic milestone capable of unlocking domestic and international capital flows into infrastructure development, job creation and economic growth.

He lauded Lagos State Government and EnterpriseNGR for driving the initiative and strengthening collaboration with federal institutions, saying a well-structured financial centre would benefit the national economy.

Co-Chairman of LIFCC, Aigboje Aig-Imokhuede, underscored the importance of private sector participation, describing LIFC as a collaborative economic ecosystem that required strong partnerships between government and business institutions.

He said EnterpriseNGR had championed the initiative by drawing lessons from established global financial centres such as London, New York and Kigali.