Lagos State has launched a strategic roadmap to establish the Lagos International Financial Centre (LIFC), aiming to position Nigeria as a leading investment destination and West Africa’s premier financial hub.
The roadmap is detailed in a report titled “Establishing an International Financial Centre in Lagos (LIFC), Nigeria”, produced by TheCityUK in partnership with the UK Government, Lagos State Government, the Lagos International Financial Centre Council (LIFCC), and EnterpriseNGR.
The report was officially launched at the State House, Marina, Lagos, in a ceremony attended by senior government officials, diplomats, and private sector leaders, including Governor Babajide Sanwo-Olu and the British Deputy High Commissioner to Nigeria, Jonny Baxter.
Aligned with Nigeria’s Agenda 2050 and the Lagos State Development Plan 2052, the proposed financial centre is designed to drive long-term economic transformation, deepen capital markets, attract international investment, and support sustainable growth across Nigeria and West Africa.
The report highlighted Lagos’ demographic advantage, growing financial ecosystem, and strategic location as key strengths, emphasizing strong public-private collaboration as essential for building a globally competitive centre.
Key recommendations included
creating an independent international financial centre framework with regulatory certainty, simplified tax regimes, and transparent governance to boost investor confidence, focusing on three priority sectors: green and sustainable finance, fintech and financial innovation, and commodities trading and capital markets among others.
Governor Sanwo-Olu stated that the LIFC would enhance market infrastructure, improve liquidity, and unlock opportunities for public-private partnerships in technology and capital markets.
British Deputy High Commissioner Jonny Baxter described the initiative as a symbol of the strengthening UK–Nigeria partnership, noting that effective implementation could attract significant domestic and international investment while driving sustainable economic growth.
Stakeholders emphasized that the next phase would focus on translating the roadmap into actionable strategies to establish Lagos as a globally competitive financial centre.
