The Federal Government has officially endorsed the creation of the Lagos International Financial Centre (IFC), a bold initiative aimed at transforming Nigeria into a premier global financial hub.
Speaking in Abuja during a high-level meeting with EnterpriseNGR, Citi UK, and senior Lagos State Government officials, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reaffirmed the government’s commitment to macroeconomic stability and investment mobilisation.
He cited the successful issuance of a US dollar domestic bond as evidence of growing investor confidence and financial sector reforms, drawing parallels between Lagos’ potential and London’s historic “Big Bang” financial deregulations that transformed the UK’s capital markets.
Public-Private Collaboration to Drive Lagos IFC
EnterpriseNGR Chairman, Aigboje Aig-Imoukhuede, stressed the importance of collaboration between the federal and state governments, alongside private sector leadership, to attract global capital and position Lagos as a competitive financial hub.
Lagos State Commissioner for Finance, Abayomi Oluyomi, outlined the state’s readiness for the initiative, citing:
✅ The Lagos State Development Plan
✅ The establishment of the Lagos IFC Council
✅ An executive order to fast-track the project
Anna Rogers, Director of International Development at Citi UK, commended Nigeria’s coordinated approach and emphasised the need for investor-friendly policies and regulatory clarity to enhance global competitiveness.
Lagos on Track to Become a Global Financial Powerhouse
With strong political backing, private sector momentum, and international support, Nigeria is advancing its vision for Lagos as a world-class financial centre.
The Lagos IFC is expected to:
📈 Deepen capital markets
💰 Boost foreign investment
🏦 Strengthen Nigeria’s role in global finance
This initiative marks a significant step towards positioning Lagos as Africa’s premier financial hub, reinforcing Nigeria’s standing in the global economic landscape.