Obinna Chima
The Chairman, Enterprise NGR, Mr. Aigboje Aig-Imoukhuede, has said the newly established Lagos International Financial Centre (LIFC) would help drive sustainable development and investment in the State.
Aig-Imoukhuede, who briefed journalists alongside his Co-Chairman of the LIFC Council and Lagos State Governor, Mr. Babajide Sanwo-Olu, in Lagos, at the weekend, also expressed optimism that…
Sanwo-Olu, during the media briefing inaugurated the LIFC Council. The governor also signed an Executive Order establishing the LIFC.
While Sanwo-Olu and Chairman, EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede, are the Co-chair of the Council, other members include Mr. Abayomi Oluyomi, Commissioner for Finance, Lagos State; Mrs Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade and Investment; Mr. Ope George, Commissioner for Economic Planning and Budget; Mr Lawal Pedro, Attorney-General and Commissioner for Justice, and Ms. Obi Ibekwe, CEO, Enterprise NGR.
The LIFC is an initiative that was developed through a partnership between Lagos State Government and 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.
Also, Lagos State and the EnterpriseNGR, are poised to make history as the first African participants invited to join the prestigious Lord Mayor’s Show’s 805th procession in London.
The collaboration between Lagos State and EnterpriseNGR is built on their shared goal of positioning Lagos as Africa’s premier financial centre.
Speaking further, Aig-Imoukhuede said: “‘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.”
According to him, EnterpriseNGR stands as the voice of enterprise, fervently advocating for the growth and development of the FPS sector, Furthermore, he noted that EnterpriseNGR plays a pivotal role in contributing to the nation’s economic growth.
“As a strategic partner in the historic delegation to the Lord Mayor’s Show in London, EnterpriseNGR aligns its mission with the broader objectives of the LIFC Council, highlighting the indispensable role of such partnerships in driving sustainable development and investment,” he added.
Sanwo-Olu, emphasised that the key objective of the historic participation in the Lord Mayor’s Show was to showcase the investment potential of Lagos and to elevate the State as a global investment destination.
Lagos contributes more than 30 per cent to Nigeria’s GDP, accounts for about 60 per cent of the country’s energy demand, and is responsible for 90 per cent of Nigeria’s foreign trade flow. It generates over 50 per cent of Nigeria’s port revenues, and a remarkable 70 per cent of the state revenue is internally generated.
Sanwu-Olu added: “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.”
Sanwu-Olu noted that 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.
“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.
“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,” he added.
Also, the CEO EnterpriseNGR, Ms. Obi Ibekwe, noted that, “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 LIFC Council is a testament to our unwavering commitment to fostering strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria.”
“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.
“EnterpriseNGR’s membership of the World Alliance of International Financial Centres puts us in good stead to ensure global best practises and competitiveness of the Lagos International Financial Centre.
“Our participation at the Lord Mayor’s show is an extension of welcoming hands to not just the UK audience but to the world at large with a clear message that Lagos is Open for Business.
“This delegation is a testament to our unwavering dedication to the larger vision of a prosperous and interconnected ecosystem and a Greater Lagos,” she added.
