Lagos, EnterpriseNGR launch international financial centre to boost investment

The Lagos government in partnership with EnterpriseNGR, has inaugurated the Lagos International Financial Centre (LIFC) Council.

This is coming as the duo gets invited as the first African participants to join the Lord Mayor’s Show’s 805th procession in London on November 11, 2023.

EnterpriseNGR is an advocacy group that promotes the growth and development of Nigeria’s financial and professional services (FPS) sector.

According to a statement on Friday, the LIFC Council is in line with Lagos’ strategic mandate, to not only attract global investors but also to ignite a wave of economic growth and innovation within the state.

The initiative is also aimed to unveil Lagos’ potential as an investment destination of choice and pave the way for a transformative era of economic prosperity.

Commenting on the development, Babajide Sanwo-Olu, governor of Lagos, who will chair the council said the key objective of historic participation in the Lord Mayor’s Show is to showcase the investment potential of Lagos and to elevate the state as a global investment destination.

“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 on a global platform,” Sanwo-Oli said.

“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.

“This invitation aligns harmoniously with the council’s mission to establish Lagos as a global financial hub, attracting investments that will fuel sustainable economic development.

“Lagos and Nigeria’s enduring history with the United Kingdom reflects a proud Commonwealth partnership since gaining independence in 1960.

“Nigeria remains dedicated to fostering diplomatic and economic ties, presenting abundant investment opportunities in sectors such as oil, finance, technology, agriculture, healthcare, and infrastructure.

“This resilient partnership, combined with Nigeria and Lagos’ commitment to growth, creates a promising landscape for UK investors eager to contribute to and benefit from the nation’s dynamic and expanding economy.”

On his part, Aigboje Aig-Imoukhuede, EnterpriseNGR’s chairman and a co-chair of the council said the advocacy group “stands as a catalyst for transformative change in Nigeria’s financial and professional services sector”.

“Our vision extends beyond advocacy; it’s a commitment to incentivise investments that go beyond financial gains. As we embark on this historic delegation to showcase Lagos on the global stage.

“We recognise the profound significance of attracting investments.”

According to the statement, Sanwo-Olu, and the LIFC Council, will engage in strategic one-on-one and bilateral meetings with key UK-based businesses, investors, government officials, and Nigerians in the diaspora, in the coming weeks.