President Bola Tinubu has expressed strong enthusiasm for the establishment of the Lagos International Financial Centre (LIFC), signaling a major federal commitment to positioning Nigeria as a premier destination for global capital.
The disclosure was made by Lagos State Governor Babajide Sanwo-Olu during a welcome dinner on Sunday for delegates attending the Nigeria Foreign Direct Investment Training Programme at the Moller Institute, University of Cambridge.
Presidential Backing for Global Competitiveness
Governor Sanwo-Olu, who serves as the Chairman of the Lagos International Financial Centre Council, informed stakeholders that the President is eager to see the project reach fruition. He noted that the initiative is designed to transcend regional interests and serve as a national platform for global economic integration.
“President Tinubu is aware of this meeting and our activity. He was very excited when I spoke with him… He is really expecting a memo from us on this, a high-level paper just to ventilate his thought process. He wants to take leadership and ownership of it,” Sanwo-Olu stated.
The Governor emphasized that having a President who understands the urgency of such infrastructure is a strategic advantage for the nation. “We should be thankful that we have a President who can see very quickly and support what we are trying to build… under his leadership, we will get to the final line,” he added.
A Strategic Partnership in Cambridge
The high-level training in England is a collaborative effort at the behest of the LIFC, organized by TheCityUK, and funded by the UK’s Foreign Commonwealth and Development Office.
The program aims to equip Nigerian leaders and regulators with the tools to drive Foreign Direct Investment (FDI). Sanwo-Olu reiterated that the LIFC is a starting point for changing the face of Nigerian finance, ensuring the world recognizes that we are serious about international business standards.
Private Sector and Legislative Synergy
The project has garnered significant momentum through a rare alignment of the public and private sectors.k Mr. Aigboje Aig-Imouhuede, co-chairman of the LIFC Council, expressed immense confidence in the project’s success, citing the high caliber of the stakeholders involved.
“Over the last few days, they have been getting us to see beyond what we are accepting to see and to think really big. It is very motivating to all of us in the private sector,” Aig-Imoukhuede remarked, highlighting the unity between the government and business leaders.
High-Level Delegation
The training features a powerful assembly of Nigerian officials, including the Legislative Leaders, Senator Tokunboh Abiru, Adamu Aliero, and Sadiq Umar Abubakar, regulator Dr. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), investment authorities Ms. Aisha Rimi, CEO of the Nigerian Investment Promotion Commission (NIPC), and financial experts from representatives from the Central Bank of Nigeria (CBN) and the private sector group EnterpriseNGR.
The delegation is expected to conclude the sessions with a finalized framework to be presented to the Presidency, marking the next formal step in making the Lagos International Financial Centre a reality.
