Lagos International Financial Centre set to attract global investment, boost financial markets, and create high-value jobs for Nigeria’s youth

The Lagos State government is set to establish the Lagos International Financial Centre, a landmark project aimed at positioning the state as the premier hub for investment in West Africa.

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Announcing the initiative at Investopia Africa, Governor Babajide Sanwo-Olu said the LIFC would facilitate investment, enhance market liquidity, and support seamless trading, while strengthening Nigeria’s capital markets.

The launch follows the release of a report, Establishing an International Financial Centre in Lagos, Nigeria, prepared by TheCityUK in partnership with the UK Government, Lagos State Government, Lagos International Financial Centre Council, and EnterpriseNGR.

The report outlines a strategic roadmap to transform Lagos into the regional centre for international investment capital, innovation, and sustainable growth.

Key highlights include a focus on green and sustainable finance, FinTech and innovation, and commodities trading and capital markets — sectors identified as critical drivers of Nigeria’s competitiveness and long-term economic prosperity.

The report also recommends robust governance, legal reform, and competitive tax regimes to attract global capital.

Governor Sanwo-Olu said, “Lagos is fully committed to the birth of the International Financial Centre.

The LIFC initiative will not only strengthen our market infrastructure but also unlock new opportunities for public-private partnerships in technology and capital market development.”

British Deputy High Commissioner Jonny Baxter emphasised the potential of the LIFC to deepen UK-Nigeria collaboration, attract domestic and international investment, create jobs, and drive sustainable economic growth beyond Lagos State.

Nicola Watkinson, Managing Director, International, TheCityUK, highlighted the LIFC’s role in building a modern financial ecosystem to support innovation, attract global and domestic capital, and create high-value jobs for Nigeria’s young workforce.

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The Lagos International Financial Centre is expected to align with Nigeria’s Agenda 2050 and the Lagos State Development Plan 2052, cementing the state’s role as a leading financial hub in Africa and providing a sustainable platform for inclusive growth.