Governor Babajide Sanwo-Olu has unveiled the Phase 1 Report for the Lagos International Financial Centre (LIFC), marking a pivotal milestone in Nigeria’s quest to become a premier global investment destination.
The launch, held at Lagos House, Marina on Thursday, brought together key stakeholders from EnterpriseNGR and the LIFC Council.
The report outlines a comprehensive roadmap designed to modernize Nigeria’s financial infrastructure, catalyze market growth, and foster a culture of fintech innovation.
A central theme of the governor’s address was the move toward institutional permanence.
Sanwo-Olu emphasised that the LIFC is not a “vanity project” tied to a specific political term, but a structural reform designed to serve Nigeria for decades to-come.
“We have designed this project to be institutional rather than personal, so it can outlast any administration,” the governor stated, highlighting the focus on building disciplined, credible institutions.
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The report reflected two years of technical collaboration and policy drafting, with key objectives centred on strengthening the market, driving innovation and enhancing global connectivity.
It aimed to develop deeper and more resilient capital markets, create a regulatory environment that encourages financial technology breakthroughs, and position Lagos as the primary gateway for international capital entering Africa.
The governor gave significant credit to both international and local partners for providing the technical backbone of the project.
He commended EnterpriseNGR for driving private-sector advocacy and contributing critical technical input.
He also acknowledged the UK Government and TheCityUK for offering strategic expertise modelled after some of the world’s leading financial districts.
With the foundational report now complete, the project enters its most critical stage.
Sanwo-Olu confirmed that the next phase will pivot toward aggressive execution and enduring reforms.
While the center is physically located in Lagos, the governor stressed that the benefits are intended to ripple across the entire nation, creating a more efficient financial system for all Nigerians.
