Governor Babajide Sanwo-Olu of Lagos State signed Executive Order 3 on Friday in Ikeja, officially establishing the Lagos International Financial Centre (LIFC) Council. This council will play a crucial role in forging strategic partnerships that will enhance the economic prosperity of Lagos State and Nigeria.
During the inauguration of the council, Governor Sanwo-Olu emphasised that the LIFC council’s formation is a significant step towards positioning Lagos as Africa’s premier financial centre. The establishment of the LIFC council is in partnership with EnterpriseNGR, an advocacy group dedicated to promoting the growth and development of Nigeria’s Financial and Professional Services (FPS) sector as a catalyst for economic progress.
Lagos State, in collaboration with EnterpriseNGR, is set to make history by becoming the first African participant invited to join the prestigious Lord Mayor’s Show 805th procession in London. Governor Sanwo-Olu, who chairs the council, stressed that their participation in the Lord Mayor’s Show aims to showcase Lagos State’s investment potential and elevate it as a global investment destination.
The governor stated that the LIFC council will contribute to establishing Africa’s premier International Financial Centre in Lagos, aligning with the economic recovery plans of the Federal Government. He said, “Lagos is not just going to London for the parade and pageantry; this visit has a more strategic purpose. This is a prime opportunity to showcase Lagos State on a global platform.”
Governor Sanwo-Olu continued, “The newly-inaugurated LIFC Council signifies not just an institutional milestone, but a commitment to a bold vision positioning Lagos as the beacon of financial innovation in Africa. The Lord Mayor, Professor Michael Mainelli’s invitation stands as a resounding endorsement of Lagos State’s commitment to excellence, as well as recognition of its increasing economic prominence.”
He emphasised that this invitation aligns with the council’s mission to establish Lagos as a global financial hub that attracts investments for sustainable economic development.
The governor also noted the enduring history of Nigeria’s partnership with the United Kingdom and the nation’s dedication to fostering diplomatic and economic ties. Nigeria presents abundant investment opportunities in various sectors, including oil, finance, technology, agriculture, healthcare, and infrastructure.
Aigboje Aig-Imoukhuede, Chairman of EnterpriseNGR and Co-Chair of the LIFC Council, highlighted EnterpriseNGR’s role as a catalyst for transformative change in Nigeria’s FPS sector. He emphasised that their vision extended beyond advocacy, aiming to incentivise investments that create a positive impact, including job creation and sustainable development.
Obi Ibekwe, the Chief Executive Officer of EnterpriseNGR, underlined the organization’s commitment to driving transformative change within Nigeria’s FPS sector. She emphasised their dedication to fostering strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria.
The establishment of the LIFC Council marks a significant step in positioning Lagos as a global financial hub and attracting investment that will fuel sustainable economic development in the region.