Lagos International Financial Centre Gets Federal Government Backing, Targets Q1 2027 Soft Launch

ABUJA, Nigeria – September 2, 2026

EnterpriseNGR has recorded a major milestone in its ongoing efforts to establish the Lagos International Financial Centre (LIFC), following the Federal Government’s endorsement of the initiative as a strategic national economic priority and the inauguration of the LIFC National Steering Committee.

National Steering Committee Inaugurated in Abuja

At the inaugural meeting of the LIFC National Steering Committee in Abuja, the Federal Government affirmed President Bola Ahmed Tinubu’s endorsement of the Lagos International Financial Centre as a strategic national economic priority to enhance Nigeria’s position globally, attract investment and support long-term economic growth.

The National Steering Committee brings together the Federal Government, the Lagos State Government and the private sector, represented by EnterpriseNGR, to coordinate the legal, regulatory, fiscal, investment promotion, immigration and digital infrastructure requirements necessary to successfully establish a globally competitive financial centre in Lagos.

The LIFC was initiated by the Lagos State Government in partnership with EnterpriseNGR and has evolved from design and planning into the implementation phase.

Federal Government’s Commitment to the LIFC

Inaugurating the Committee, the Secretary to the Government of the Federation, Senator George Akume, CON, reaffirmed President Bola Ahmed Tinubu’s support and stated that the Office of the SGF has been directed to coordinate Federal Government support for the initiative. He highlighted the opportunity for Nigeria to leverage Lagos’ strategic position and economic potential to build a financial centre of international standing.

Governor Babajide Sanwo-Olu, CON, Chairman of the LIFC Council, described the Centre as “strategic national infrastructure,” emphasising that the initiative should be viewed not simply as a Lagos project, but as an instrument of Nigeria’s long-term economic strategy.

The Governor also highlighted the broader ambition of the Lagos International Financial Centre: to establish it as a trusted gateway through which global capital can access opportunities in Nigeria and across the continent.

EnterpriseNGR’s Role in the Centre’s Development

EnterpriseNGR has played a central role in the development of the LIFC, convening perspectives from across Nigeria’s Financial and Professional Services sector and ensuring that industry expertise remains embedded in the Centre’s design and implementation process. Through sustained engagement with stakeholders across the sector, EnterpriseNGR continues to support the creation of a financial centre aligned with international standards and investor expectations.

Speaking at the inauguration, Chairman of EnterpriseNGR and Co-Chairman of the LIFC Council, Aigboje Aig-Imoukhuede, CFR, emphasised the importance of institutional alignment in attracting global capital and driving economic transformation. He described the collaboration between the Federal Government, Lagos State and the private sector as an example of what can be achieved when institutions align around a shared economic objective.

“Capital is perhaps the most discerning visitor that I know,” he said, emphasising that investors ultimately gravitate towards jurisdictions where they feel safe, where rules are predictable and where opportunities can grow.

That principle is central to the LIFC’s development. Extensive preparatory work has already been undertaken, including the development of the Centre’s strategic blueprint, legal and regulatory assessments, business planning and institutional design.

Legal, Regulatory and Technical Workstreams

Specialist workstreams are also advancing legal and regulatory reforms, institutional capability and the international positioning of the Lagos International Financial Centre, with KPMG supporting the Project Office and TheCityUK providing international technical support funded by the UK Government.

The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, pledged support for the legal reforms required to provide greater certainty for investors. Dr Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service, emphasised the need to develop a model suited to Nigeria’s constitutional, legal and economic realities. The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, described the LIFC as a catalytic initiative capable of supporting Nigeria’s ambition to build a US$1 trillion economy.

The Ministry of Foreign Affairs also committed to supporting the Centre through investment diplomacy, international advocacy and strategic partnerships.

Path to Q1 2027 Soft Launch

The Lagos International Financial Centre is now working towards a soft launch in the first quarter of 2027.

For Nigeria, the significance of the LIFC extends beyond Lagos. Its broader objective is to channel global capital into productive opportunities across the country and the wider African market. A successful Lagos International Financial Centre has the potential to deepen capital markets, strengthen professional services, create high-value employment, increase investment and mobilise long-term capital into critical sectors of the economy, including infrastructure, technology, agriculture and manufacturing.

With Federal Government backing now firmly established, Lagos State providing jurisdictional leadership and EnterpriseNGR keeping the Financial and Professional Services sector embedded in the process, the LIFC is moving into its most consequential phase: turning strategy into an institution that investors trust and businesses use.

About the Lagos International Financial Centre (LIFC)

The Lagos International Financial Centre is an initiative of the Lagos State Government and EnterpriseNGR, now being advanced through a national implementation framework bringing together the Federal Government, Lagos State Government and the private sector. Its objective is to establish an internationally competitive financial centre in Lagos and position Nigeria as a trusted gateway for global capital seeking opportunities across Nigeria and Africa.

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