•Call for media partnership in repositioning Nigeria

Oluchi Chibuzor

The Lagos State government, in partnership with EnterpriseNGR under the platform of the Lagos International Financial Centre (LIFC), have called on foreign and local investors to support and partner for the establishment of an International Financial Centre in Lagos to drive economic and financial growth.

Speaking during the EnterpriseNGR first Quarterly Members’ Night, held in Lagos, the State Governor, Mr. Babajide Sanwo-Olu and the Co-Chairman of LIFC Council, Mr. Aigboje Aig-Imoukhuede, were quoted in a statement to have said the establishment of LIFC would attract private international capital flow to finance growth and development in Lagos and Nigeria.

The event attended by Lagos State Government top officials, which included Lagos State Commissioner for Finance, Mr. Abayomi Oluyomi; his Commerce, Cooperatives, Trade and Investment counterpart, Mrs. Folashade Ambrose-Medebem, as well as the Commissioner of Economic Planning and Budget, Mr Mosopefolu George; captains of industry, foreign partners, and media stakeholders, in a high-level engagement, showcased the Lagos International Financial Centre vision, focusing on advancing Nigeria’s transformation into a globally competitive financial hub.

 Speaking at the event, Sanwo-Olu, who was represented by Lagos State Commissioner for Finance, Mr. Abayomi Oluyomi, said the establishment of the Lagos International Financial Centre would aid the financing of the infrastructural gap in the State.

He, therefore, called on the private sector to partner with the Lagos State Government and LIFC Council to drive economic and financial growth in Lagos, noting that “the partnership between the public and the private sector is the solution, and that is what we have been looking for.”

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 are able to 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, whatsoever 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 and magnetises the capital that we have been looking for.

“It magnetises the flow of investments, Foreign Direct Investment. It will make Lagos to become destination of choice.”

The Co-Chairman of the LIFC Council and Chairman of EnterpriseNGR, Aig-Imoukhuede, described the LIFC as a, “national strategic imperative” and a transformative platform to attract international capital, deepen markets, and elevate Nigeria’s competitiveness.”

He said: “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.

“If executed with precision and foresight, the LIFC will be a game-changer for Lagos, Nigeria, and Africa. It will deepen our domestic capital markets, increase access to long-term finance, attract Foreign Direct Investment (FDI); drive economic diversification, and support innovation across industries.”

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