The Federal Government has backed the establishment of the Lagos International Financial Centre (LIFC), with stakeholders targeting a soft launch of the initiative in the first quarter of 2027.
The development followed the inaugural meeting of the LIFC National Steering Committee in Abuja on Wednesday, where the Federal Government, Lagos State Government and the private sector, represented by EnterpriseNGR, agreed to strengthen the implementation framework for the proposed financial centre.
The initiative is designed to position Lagos as a gateway for global capital into Nigeria and the wider African market, while supporting the country’s ambition of building a US$1 trillion economy by 2030.
George Akume, secretary to the Government of the Federation, who inaugurated the committee, said President Bola Tinubu had endorsed the LIFC as a strategic national economic priority and directed his office to coordinate Federal Government support for the project.
According to Akume, the centre presents an opportunity to leverage Lagos’ position and Nigeria’s economic potential to create a financial centre of international standing.
