Business & Economy

FG Moves to Establish Lagos IFC

Published

23 hours ago

Mar 26, 2025.

Lagos State Commissioner for Finance, Abayomi Oluyomi, outlined the state’s readiness to support this initiative
Edun referred to the successful issuance of a US dollar domestic bond as a testament to renewed investor confidence and financial reform momentum.
The Minister of Finance and Coordinating Minister of the Economy highlighted Lagos’ potential to evolve into a globally competitive financial centre with the right institutional support.

In a strategic move aimed at transforming Nigeria into a leading global financial hub, the Federal Government has formally endorsed the creation of the Lagos International Financial Centre (IFC).

Eko Hot Blog reports that the announcement came during a high-level engagement involving Minister of Finance and Coordinating Minister of the Economy, Wale Edun, EnterpriseNGR, Citi UK, and senior Lagos State Government officials on Tuesday.

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Emphasizing Nigeria’s commitment to macroeconomic stability and investment mobilization, Edun referred to the successful issuance of a US dollar domestic bond as a testament to renewed investor confidence and financial reform momentum.

Drawing parallels with London’s historic “Big Bang” reforms, he highlighted Lagos’ potential to evolve into a globally competitive financial centre with the right institutional support.

EnterpriseNGR Chairman, Aigboje Aig-Imoukhuede, emphasized the importance of collaboration between federal and state authorities, along with private sector leadership, in attracting global capital to Nigeria.

Lagos State Commissioner for Finance, Abayomi Oluyomi, outlined the state’s readiness to support this initiative, citing the Lagos State Development Plan, the establishment of the Lagos IFC Council, and an executive order designed to catalyze the project.

FG Moves to Establish Lagos IFC

Anna Rogers, Director of International Development at Citi UK, commended the collaborative approach and highlighted the need for investor-friendly policies and regulatory clarity to ensure global competitiveness.