The Governor of Lagos State, Mr. Babajide Sanwo-Olu has signed an executive order establishing Lagos International Financial Centre Council (LIFC Council) to attract global investment to the state.
The Governor while signing the order at the Government House noted that to actualize the vision, the State Government is in in partnership with EnterpriseNGR – a member-led advocacy group that promotes the growth and development of Nigeria’s Financial and Professional Services (FPS) sector as a catalyst for economic development.
He noted that with the LIFC Council leading the charge, and in line with its strategic mandate, it to not only attract global investors but also ignite a wave of economic growth and innovation within the state.
Sanwo-Olu, Governor of Lagos State., who Chairs the Council emphasised that the key objective of the council’s 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.
EnterpriseNGR’s Chairman, Mr. Aigboje Aig-Imoukhuede, who joins the Governor as Co-Chair of the Council added; that we recognise the profound significance of attracting investments. Investment isn’t merely a transaction; it’s a catalyst for job creation, driving sustainable development and fostering a symbiotic relationship between investors, the State, and the communities at large.
Ms. Obi Ibekwe, CEO of EnterpriseNGR noted that the LIFC Council’s objective is clear – to align strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria by establishing Africa’s premier International Financial Centre here in Lagos.
Ibekwe noted that Lagos contributes more than 30% to Nigeria’s GDP, accounts for about 60% of the country’s energy demand, and is responsible for 90% of Nigeria’s foreign trade flow.
She added that it generates over 50% of Nigeria’s port revenues, and a remarkable 70% of the state revenue is internally generated. It boasts of a dynamic business environment, as well as a vibrant hub for innovation and technology, with a burgeoning tech ecosystem that rivals global counterparts.
