FG Begins Push To Make Lagos Africa’s Leading Financial Hub

The Federal Government has intensified efforts to position Lagos as Africa’s leading financial hub with the inauguration of the National Steering Committee for the Lagos International Financial Centre (LIFC) Initiative.
According to an official statement signed by Chris Ugwuegbulam, Head of Information and Public Relations Department, on September 2, 2026, the Secretary to the Government of the Federation (SGF), Senator George Akume said the initiative is a strategic national priority aimed at attracting global capital, deepening Nigeria’s financial markets and driving sustainable economic growth.
Speaking during the inauguration ceremony in Abuja on Wednesday, Akume said the Lagos International Financial Centre is designed to transform Lagos into a financial centre of international standing by leveraging its strategic location and Nigeria’s economic potential.
He disclosed that President Bola Ahmed Tinubu has endorsed the initiative and directed the Office of the Secretary to the Government of the Federation to coordinate Federal Government support for its implementation.
Akume said the newly inaugurated committee would provide the coordination needed to address policy, legal, regulatory, institutional and infrastructure issues critical to establishing a globally competitive financial ecosystem.
He urged members to approach the assignment with urgency and commitment, stressing that the success of the initiative would depend on strong collaboration between the Federal Government, the Lagos State Government and the private sector.
“The establishment of the LIFC presents an opportunity to leverage Lagos’ strategic position and Nigeria’s economic potential to create a financial centre of international standing,” the SGF said.
The committee is co-chaired by Lagos State Governor Babajide Sanwo-Olu, while the SGF serves as Chairman. It also includes key ministers, the Governor of the Central Bank of Nigeria, the Director-General of the Securities and Exchange Commission, the Executive Chairman of the Nigeria Revenue Service and representatives of EnterpriseNGR.
Presenting the vision for the initiative, Sanwo-Olu described international financial centres as deliberate instruments of national economic strategy that mobilise long-term capital, deepen financial markets and connect domestic opportunities with global investors.
He said successful financial centres are built on institutional trust, regulatory quality, legal certainty and international connectivity, adding that the Lagos International Financial Centre has the potential to become the trusted platform through which Nigeria competes for global capital while providing investors with access to opportunities across Africa.
According to the governor, the committee’s broad membership reflects a partnership between the Federal Government, Lagos State Government and the private sector to ensure effective coordination in developing the policy and infrastructure framework required for the centre’s success.
Akume assured members of the committee of the full support of the Office of the Secretary to the Government of the Federation in carrying out its mandate and expressed confidence that the initiative would strengthen Nigeria’s position as a major financial destination on the African continent.