Oritsegbubemi Omatseyin


Lagos —

The federal government has officially approved the establishment of the Lagos International Financial Centre, IFC, a key step toward establishing Nigeria as a leading international financial center.
At an event organized by EnterpriseNGR, Citi UK, and key representatives from the Lagos State government, Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun emphasized the federal government’s steadfast dedication to maintaining economic stability and attracting investments. He highlighted the successful launch of a U.S. dollar-denominated local bond as evidence of increased investor trust and ongoing financial reforms.
EduN compared it to London’s historical “Big Bang” reforms, emphasizing Lagos’ possibility of transforming into a major global financial hub provided it receives adequate institutional backing.
The chairman of EnterpriseNGR, Aigboje Aig-Imoukhuede, stressed the significance of collaboration between federal and state governments along with private sector leadership to attract international investment.
The Lagos State Commissioner for Finance, Abayomi Oluyomi, highlighted the state’s readiness, citing the Lagos State Development Plan, the establishment of the Lagos IFC Council, and an executive order aimed at propelling this effort forward.
Anna Rogers, who leads international development at Citi UK, praised the collaborative strategy and highlighted the significance of supportive investment policies and clear regulations for maintaining global competitiveness.
Thanks to robust political commitment, significant backing from the private sector, and collaborative efforts at an international level, Nigeria is making strides toward transforming Lagos into a premier global financial hub. This initiative aims to stimulate economic growth, enhance capital market depth, and reinforce the nation’s position within the broader landscape of international finance.