Gov. Babajide Sanwo-Olu of Lagos has called on stakeholders in the public and private sectors to sustain collaboration toward positioning the state as a global financial hub through the Lagos International Financial Centre (LIFC).<\/p>\n
The governor made the call at the launch of the Lagos International Financial Centre Phase 1 Report in Lagos, according to a statement by Mr Gboyega Akosile, Special Adviser \u00a0to the governor on Media and Publicity.<\/p>\n
The statement was made available to newsmen \u00a0on Sunday in Lagos.<\/p>\n
The governor said the LIFC project, conceived about two years ago, was designed to attract international capital, deepen financial markets, and create sustainable economic opportunities for Nigeria.<\/p>\n
\u201cThe foundation we are laying today is for the future of our economy, our children and generations to come.<\/p>\n
\u201cThis is not just about Lagos; it is about building an economic legacy that will transform Nigeria\u2019s financial ecosystem,\u201d Sanwo-Olu said.<\/p>\n
The governor, \u00a0who chairs the LIFC Council, reaffirmed his administration\u2019s commitment to establishing the financial centre, describing it as a strategic economic reform aimed at strengthening Nigeria\u2019s global competitiveness.<\/p>\n
\u201cWe have designed a model that involves both state and national institutions so that the project becomes institutional rather than personality-driven.<\/p>\n
\u201cIt is about building a sustainable structure that will outlive any administration,\u201d he said.<\/p>\n
The governor \u00a0also commended EnterpriseNGR for driving the initiative and thanked the United Kingdom Government and TheCityUK for \u00a0technical and financial support during the formative phase.<\/p>\n
According to him, the development of a credible international financial centre requires strong institutional frameworks and strategic investment partnerships.<\/p>\n
Earlier, the co-Chairman of LIFC, Mr Aigboje Aig-Imoukhuede, said the project was built on strong collaboration between government and private sector players to stimulate financial and economic growth.<\/p>\n
He described the completion of Phase 1 as a milestone, noting that Phase 2 would focus on policy reforms and legislative frameworks. and resource mobilisation.<\/p>\n
\u201cThe scale and impact of the Lagos International Financial Centre will go beyond the Nigerian Stock Exchange.<\/p>\n
\u201cIt will strengthen capital mobilisation, expand financial institutions, and position Nigeria as a global financial destination,\u201d Aig-Imoukhuede said.<\/p>\n
The British Deputy High Commissioner to Nigeria, Mr Jonny Baxter, applauded \u00a0Lagos State Government and EnterpriseNGR for strengthening collaboration with federal institutions.<\/p>\n
He said that a well-structured international financial centre would unlock domestic and international capital flows into infrastructure, job creation, and economic growth.<\/p>\n
\u201cA well-designed international financial centre can unlock significant domestic and international capital flows.<\/p>\n
\u201cThese resources will support infrastructure development, boost productive sectors and create employment opportunities,\u201d Baxter said.<\/p>\n
In his remarks, the Lagos \u00a0Commissioner for Finance, Mr Abayomi Oluyomi, said the success of the project would depend largely on sustained collaboration with investors and key stakeholders.<\/p>\n
He expressed confidence that the LIFC would emerge as a globally competitive platform capable of transforming the state \u00a0into a major financial destination.<\/p>\n
The Lagos International Financial Centre is a joint initiative of the Lagos State Government and EnterpriseNGR.<\/p>\n
\u201cIt is designed to provide a clear strategy and implementation pathway for deepening Nigeria\u2019s financial markets and fostering innovation.<\/p>\n
Vanguard News
\nThe post Sanwo-Olu seeks stakeholders\u2019 collaboration to position Lagos as financial hub appeared first on Vanguard News.<\/p>\n","protected":false},"excerpt":{"rendered":"
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