The Lagos State Government has inaugurated the Lagos International Financial Centre Council in partnership with advocacy group, EnterpriseNGR, to promote investment in the state.
This was disclosed in a statement issued on Friday, which also revealed that the state has been invited to participate in the Lord Mayor’s Show’s 805th procession in London.
Lagos contributes more than 30 per cent to Nigeria’s GDP. The state is responsible for 90 per cent of Nigeria’s foreign trade flow and leads in terms of foreign capital importation.
Speaking on the initiative, the governor of Lagos State, Babajide Sanwo-Olu, who is the chair of the council emphasised that the key objective of this historic participation in the Lord Mayor’s Show is to showcase the investment potential of Lagos and to position the State as a global investment destination.
He said, “Lagos is not just going to London for the parade and pageantry; this visit has a more strategic purpose. This is a prime opportunity to showcase Lagos on a global platform. The newly-inaugurated LIFC Council signifies not just an institutional milestone, but a commitment to a bold vision—positioning Lagos as the beacon of financial innovation in Africa.”
“The Lord Mayor, Professor Michael Mainelli’s invitation stands as a resounding endorsement of Lagos State’s commitment to excellence, as well as recognition of its increasing economic prominence. This invitation aligns harmoniously with the council’s mission to establish Lagos as a global financial hub, attracting investments that will fuel sustainable economic development.
“With the LIFC Council leading the charge, and in line with its strategic mandate, to not only attract global investors but also to ignite a wave of economic growth and innovation within the state, Lagos aims to captivate global investors, unveil its potential as an investment destination of choice, and pave the way for a transformative era of economic prosperity.”
Sanwo-Olu added that “Lagos and Nigeria’s enduring history with the United Kingdom reflects a proud Commonwealth partnership since gaining independence in 1960. Nigeria remains dedicated to fostering diplomatic and economic ties, presenting abundant investment opportunities in sectors such as oil, finance, technology, agriculture, healthcare, and infrastructure. This resilient partnership, combined with Nigeria and Lagos’s commitment to growth, creates a promising landscape for UK investors eager to contribute to and benefit from the nation’s dynamic and expanding economy.”
The statement revealed that the collaboration between Lagos State and EnterpriseNGR was built on their shared goal of positioning Lagos as Africa’s premier financial centre. The partners will make history as the first African participants invited to join the prestigious Lord Mayor’s Show’s 805th procession in London.
Also speaking, EnterpriseNGR’s Chairman, Mr. Aigboje Aig-Imoukhuede, who joins the governor as co-chair of the council added; “EnterpriseNGR stands as a catalyst for transformative change in Nigeria’s Financial and Professional Services sector. Our vision extends beyond advocacy; it’s a commitment to incentivise investments that go beyond financial gains.
As we embark on this historic delegation to showcase Lagos on the global stage, 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.
The Chief Executive Officer of EnterpriseNGR, Ms. Obi Ibekwe, in her comments said, “EnterpriseNGR’s participation in this historic delegation to the Lord Mayor’s Show underscores the critical role we play in driving transformative change within Nigeria’s Financial and Professional Services sector. We are not just advocating for growth; we are actively working to create a dynamic, interconnected and thriving FPS sector. The inauguration of the Lagos International Financial Centreville Council is a testament to our unwavering commitment to fostering strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria.”
EnterpriseNGR is a member-led advocacy group that promotes the growth and development of Nigeria’s Financial and Professional Services sector as a catalyst for economic development.
