The Lagos State Government has reaffirmed its partnership with EnterpriseNGR, under the platform of the Lagos International Financial Council (LIFC), aiming to boost the contribution of the tech ecosystem to the state’s Gross Domestic Product (GDP) from 3% to 10% through venture capital investments in Lagos-based tech startups.
This announcement was made during a strategic meeting and presentation held on Wednesday at the Lagos State Ministry of Finance Conference Room in Alausa, Ikeja. LIFC is designed as a financial hub to integrate Lagos into global financial networks, creating an enabling environment for seamless trade, attracting foreign investments, and enhancing the competitiveness of Nigeria’s financial markets.
The initiative seeks to establish Lagos as a central hub for global financial activities while driving local economic growth and innovation. As part of its efforts, the state government signed a Memorandum of Understanding (MoU) on March 24, 2025, at Lagos House, Marina, with TheCityUK and the UK’s Foreign, Commonwealth and Development Office (FCDO) for the development of an International Financial Centre in Lagos to accelerate economic growth.
Governor Babajide Sanwo-Olu, who chairs the LIFC, led the MoU signing ceremony, which was attended by notable figures including Co-Chairman of LIFC and Chairman of Access Holdings, Mr. Aigboje Aig-Imoukhuede; the Head of Eurasia, Middle East, and Africa for TheCityUK, Chika Mourah; Charge d’Affaires of the British Deputy High Commission in Lagos, Mr. Simon Field; Secretary to the Lagos State Government, Mrs. Bimbola Salu-Hundeyin; and Head of Service, Mr. Bode Agoro.
During the ceremony, Governor Sanwo-Olu emphasized his administration’s strong commitment to realizing the Lagos International Financial Centre, calling for the support of all stakeholders to turn the vision into a reality.
