Lagos State government to establish international financial centre to drive capital market growth .

The Lagos State Government has finalized plans to establish an international financial centre in collaboration with EnterpriseNGR and other key stakeholders to drive capital market growth.

This initiative aims to create an enabling environment for seamless trading, attract foreign investments, and enhance the competitiveness of Nigeria’s financial markets.

Governor Babajide Sanwo-Olu described the Lagos International Financial Centre (LIFC) as a strategic move to solidify Lagos as Africa’s premier financial hub.

The LIFC will be established at the Eko Atlantic in Victoria Island. He emphasized that the project would foster capital market growth, attract global investments, and drive financial sector innovation in the state.

Lagos State has been implementing strategic initiatives to enhance its digital economy. The state outlined plans to increase the tech ecosystem’s contribution to its GDP from 3% to 10%, including the creation of a fund-of-funds to co-invest with venture capitals in Lagos-based tech startups.

Source: Nairametrics