 was approved by the Federal Government. This is part of Nigeria's plan to become a major){kind=link}
Minister of Finance and Coordinating Minister of the Economy, reaffirmed the government’s commitment to maintaining macroeconomic stability and attracting investments
Lagos International Financial Centre (IFC) was approved by the Federal Government. This is part of Nigeria’s plan to become a major global financial center.
To improve the country’s financial sector and attract international investment, the Federal Ministry of Finance announced the decision on Tuesday.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, reaffirmed the government’s commitment to maintaining macroeconomic stability and attracting investments during a meeting that took place in Abuja. The meeting was attended by senior officials from the Lagos State Government, EnterpriseNGR, and Citi UK.
Wale Edun cited the recent successful issuing of a domestic bond denominated in US dollars as an indication of increased investor confidence and ongoing changes in the financial industry.
Edun expressed his optimism in Lagos’ capacity to evolve into a globally competitive financial hub with the appropriate institutional backing. He drew analogies between the historic Big Bang financial reforms that London implemented.
The Chairman of EnterpriseNGR, Aigboje Aig-Imoukhuede, made a statement regarding the necessity of collaboration between federal and state authorities, as well as the leadership of the private sector, in order to effectively attract global investments.
The move was welcomed by Abayomi Oluyomi, the commissioner for finance in Lagos, who emphasized that the state was prepared for it by referencing the Lagos State Development Plan.
Citi UK’s Director of International Development Anna Rogers lauded the concerted effort and emphasized the need for policy changes that are welcoming to investors and provide transparent rules in order to boost Lagos’ international competitiveness.