Lagos committed to innovation-driven financial sector — Sanwo-Olu
By Seun Ibiyemi
Lagos State Governor, Mr. Babajide Sanwo-Olu, has reaffirmed his administration’s commitment to fostering a market-driven and innovation-led financial sector.
Speaking at a high-level meeting with licensed exchanges and key stakeholders on Tuesday at Lagos House, Marina, the governor highlighted the state’s efforts in positioning Lagos as Africa’s leading financial hub.
Sanwo-Olu emphasised that the Lagos State Government, through the Lagos International Financial Centre (LIFC) — established in collaboration with EnterpriseNGR and other stakeholders — aims to create a business-friendly environment that attracts foreign investment, enhances market competitiveness, and supports seamless trading.
“As Nigeria’s largest economic and financial centre, Lagos plays a critical role in driving the nation’s capital markets. Our licensed exchanges are at the heart of this ecosystem, facilitating investment flows, enhancing market liquidity, and promoting financial literacy,” the governor stated.
The LIFC project, co-chaired by Sanwo-Olu and Mr. Aigboje Aig-Imoukhuede, is expected to strengthen Lagos’ market infrastructure and unlock new opportunities for public-private partnerships in technology and capital market development.
Aigboje Aig-Imoukhuede described the initiative as a game changer, urging CEOs of Nigerian exchanges – including the Nigerian Exchange Group (NGX), FMDQ Group Plc., NASD OTC Security Exchange, and Lagos Commodities and Futures Exchange (LCFE) – to align with global best practices to boost market liquidity, innovation, and depth.
Licensed exchange leaders at the meeting expressed their commitment to supporting the LIFC project, recognizing its potential to attract investments and further establish Lagos as a globally recognized financial powerhouse.
The meeting, which lasted over two hours, provided a platform for stakeholders to discuss challenges, propose solutions, and recommend policies that will enhance financial markets and drive economic prosperity in Lagos.
