Sanwo-Olu inaugurates Lagos International Financial Centre Council

•Governor, Aig-Imoukhuede lead delegation to Lord Mayor’s Show to attract foreign investment

Etim Ekpimah

Arrangements have been concluded by the Lagos State Government and EnterpriseNGR; an advocacy group that promotes the growth and development of Nigeria’s Financial and Professional Services (FPS) sector as a catalyst for economic development, to take part in the Lord Mayor’s Show in London.

The decision of the Lagos State Government and EnterpriseNGR to take part in the Lord Mayor’s Show held in London this week was disclosed at the weekend during a press conference by the Lagos International Financial Centre (LIFC) Council chaired by Lagos State Governor, Mr Babajide Sanwo-Olu and co-chaired by EnterpriseNGR’s Chairman, Mr Aigboje Aig-Imoukhuede, CON.

Speaking at the press conference, Governor Sanwo-Olu, who had earlier signed an Executive Order Three to inaugurate the Lagos International Financial Centre Council, symbolising his administration’s commitment to making the state a global financial hub, said Lagos State and EnterpriseNGR, are poised to make history as the first African participants invited to join the prestigious Lord Mayor’s Show’s 805th procession in London.

This was contained in an issued by Mr Gboyega Akosile, Chief Press Secretary to Governor Sanwo-Olu on Wednesday, 8 November 2023.

The ground-breaking collaboration between Lagos State and EnterpriseNGR, strengthened by the inauguration of the Lagos International Financial Centre Council in partnership with EnterpriseNGR, is built on their shared goal of positioning Lagos as Africa’s premier financial centre to attract foreign investments.

During the Lord Mayor’s Show, Lagos, represented by Mr Babajide Sanwo-Olu, Governor of Lagos State and other members of the Lagos International Financial Center Council, will engage in strategic one-on-one and bilateral meetings with key United Kingdom-based businesses, investors, government officials, and Nigerians in the diaspora, all with one message: “Lagos is open for business. Come and invest in Africa’s economic powerhouse.”

The governor, who is the Chairman of the LIFC Council, said the objective of the Council is to work collaboratively to provide financial services, drive investment structure, and create a conducive environment to ensure transformation and align with the Federal Government on its economic recovery plans.

He said his administration had been proactive in collaborating to catalyse infrastructural development and it would be the first African city that would be participating in the Lord Mayor’s Show in the United Kingdom to attract foreign investors to Lagos State.

Sanwo-Olu emphasised that the key objective of the historical participation of Lagos and EnterpriseNGR in the Lord Mayor’s Show in London is to showcase the investment potential of Lagos and to elevate the State as a global investment destination.

He said: “Lagos is not just going to London for the parade and pageantry; this visit has a more strategic purpose. This is a prime opportunity to showcase Lagos on a global platform. The newly inaugurated LIFC Council signifies not just an institutional milestone, but a commitment to a bold vision—positioning Lagos as the beacon of financial innovation in Africa.

“The Lord Mayor, Professor Michael Mainelli’s invitation stands as a resounding endorsement of Lagos State’s commitment to excellence, as well as recognition of its increasing economic prominence. This invitation aligns harmoniously with the council’s mission to establish Lagos as a global financial hub, attracting investments that will fuel sustainable economic development.

“Lagos and Nigeria’s enduring history with the United Kingdom reflects a proud Commonwealth partnership since gaining independence in 1960. Nigeria remains dedicated to fostering diplomatic and economic ties, presenting abundant investment opportunities in sectors such as oil, finance, technology, agriculture, healthcare, and infrastructure. This resilient partnership, combined with Nigeria and Lagos’s commitment to growth, creates a promising landscape for United Kingdom investors eager to contribute to and benefit from the nation’s dynamic and expanding economy.

“As a strategic partner in the historic delegation to the Lord Mayor’s Show in London, EnterpriseNGR aligns its mission with the broader objectives of the LIFC Council, highlighting the indispensable role of such partnerships in driving sustainable development and investment.

Aigboje Aig-Imoukhuede, who is the Co-chairman of the LIFC Council, congratulated Governor Babajide Sanwo-Olu’s administration for all the achievements recorded, saying the collaboration between the Lagos State Government and EnterpriseNGR is an innovation that will transform Lagos and Nigeria into a financial powerhouse.

He said: “EnterpriseNGR stands as a catalyst for transformative change in Nigeria’s Financial and Professional Services sector. Our vision extends beyond advocacy; it is a commitment to incentivise investments that go beyond financial gains. As we embark on this historic delegation to showcase Lagos on the global stage, we recognise the profound significance of attracting investments.

“Investment isn’t merely a transaction; it’s a catalyst for job creation, driving sustainable development and fostering a symbiotic relationship between investors, the State, and the communities at large,” he said.

Also speaking, the CEO of EnterpriseNGR, Ms. Obi Ibekwe, said “EnterpriseNGR’s participation in this historic delegation to the Lord Mayor’s Show underscores the critical role we play in driving transformative change within Nigeria’s Financial and Professional Services sector.

“Our participation at the Lord Mayor’s show is an extension of welcoming hands to not just the United Kingdom audience but the world at large with a clear message that Lagos is Open for Business.

“This delegation is a testament to our unwavering dedication to the larger vision of a prosperous and interconnected ecosystem and a Greater Lagos.”