By optimizing income streams and embracing innovation, we build a stronger foundation for national economic resilience.
Who are we
IBILE Holdings Limited (IHL) is the investment company of the Lagos State Government, established to drive economic growth, create sustainable value, and manage the State’s commercial assets and investments.
Our name, “IBILE”, represents the five administrative divisions of Lagos State—Ikorodu, Badagry, Ikeja, Lagos Island, and Epe—symbolizing unity, inclusiveness, and shared prosperity.
As a strategic vehicle for wealth creation, IBILE Holdings Limited serves as the bridge between public policy and private enterprise, ensuring that Lagos remains the preferred destination for business, innovation, and investment.
The LAGOS STATE Story
Lagos State came into existence on May 27, 1967, following the promulgation of the States (Creation and Transitional Provisions) Decree No. 14 of 1967 by the Federal Military Government. This landmark decree restructured Nigeria’s federal system, replacing the old regional arrangement with a federation of twelve newly created states.
Before this reform, the Lagos Municipality functioned as a Federal Territory under the supervision of the Federal Ministry of Lagos Affairs, which served as the regional authority. The Lagos City Council managed local governance within the city limits, while nearby metropolitan areas—including Ikeja, Agege, Mushin, Ojo, Ikorodu, Epe, and Badagry—fell under the administration of the Western Region Government and were collectively known as the Colony Province.
The establishment of Lagos State unified these separate jurisdictions into one administrative body. The state formally began operations on April 11, 1968, with Lagos Island serving a dual purpose as both the State Capital and the Federal Capital of Nigeria.
This dual status remained until 1976, when the Federal Government created the Federal Capital Territory (FCT). Consequently, the state capital was moved from Lagos Island to Ikeja, though Lagos continued to function as Nigeria’s federal capital until the government officially relocated to Abuja on December 12, 1991.
Even after losing its political capital status, Lagos maintained, and indeed expanded, its influence as Nigeria’s economic, commercial, and cultural powerhouse. Today, Lagos stands as the most populous state in the country and remains a leading force in national growth, innovation, and global engagement. As noted in Historical records, “Lagos is to the people of Nigeria what the head is to the body of an individual.”
Our VISION
To be a leading diversified asset and investment management company providing trusted solutions and maximizing stakeholders' value
Our Mission
To create sustainable long-term economic value by undertaking viable investment activities through strategic partnerships for the ultimate benefit of our stakeholders.
Creating wealth for all generations requires a commitment to strategic investments and economic growth
Strategic Pillars
ASSET IDENTIFICATION AND MANAGEMENT
Establishing a definitive
database for LASG’s assets
with the aim of delivering a
single source database for all LASG-owned assets
PROFESSIONALIZING LASG -OWNED ENTERPRISES
Elevating the operational standards of LASG owned and affiliated enterprises by providing the necessary support and ensuring strong corporate governance structures
CAPITAL MOBILIZATION FOR ECONOMIC PRIORITIES
Mobilizing and deploying investment capital into key
sectors of the State’s economy, underlining LASG’s commitment to economic growth and development
Asset Classes
Corporate Assets
Government-owned shareholdings in publicly traded and private enterprises.
Concessions
Public-Private Partnership (PPP) agreements facilitating private sector investment in public infrastructure and services.
Real Estate Assets
Government-owned land, buildings, and commercial or residential properties.
Infrastructure Assets
Comprehensive infrastructure holdings, excluding power and electricity assets, including roads, bridges, railways, ports, and water systems.
Extractive Assets
Reserves and resources of solid minerals, metals, and other extractive industry commodities.
Oil & Gas Assets
Petroleum and natural gas reserves, exploration rights, and related production infrastructure.
Transmission Infrastructure
Generation, transmission, and distribution infrastructure related to the electricity sector.
Intangible Assets
Non-physical assets such as licenses, patents, trademarks, copyrights, and other intellectual property rights.
Financial Assets
Government-held financial instruments, including receivables, treasury bonds, sovereign investments, and other securities.
Experienced Management Team
30 years+ experience in Banking & Finance. Ex. MD, Lagos Building Investment Corporation (LBIC), ex. Director, Fidelity Bank PLC. Expert in corporate restructuring and strategic growth initiatives that yield long-term value. Actively contributed to the growth and development of the Nigerian Banking sector. Played a significant role in various landmark transactions within the finance industry. Responsible for the transformation of LBIC, where he led strategic initiatives to enhance the company's financial and market position. Mentor and advisor to emerging leaders and startups.
Oluwatobiloba Lawal
Group Managing Director
Award winning capital markets professional with 10 years experience. Ex. Chapel Hill Denham & FBNQuest. Completed deals in equities, debt, financial advisory and M&A. Sector coverage: Financial services, telcos, power, infrastructure, real estate, transport & logistics, oil & gas, consumer goods and public sector. Highly skilled in project management; structuring and execution, stakeholder interface, sales, and marketing. Managed several landmark processes e.g. MTN IPO, Access Bank Pioneer Green Bond & SSA acquisitions, LASG Bonds. Secured capital in excess of US$10 billion. BSc. Economics, MSc. Finance & Business Economics.
Mumeenat Babs-Animashaun
Executive Director, Investments
Seasoned investment management expert with 20 years+ experience in investment & fund management. MD, IHL Asset Management Limited, a SEC licensed Fund Management subsidiary of IBILE. Ex. Head of Institutional Clients at Stanbic IBTC Asset Management. Investment experience across multiple sectors. Member of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), Nigerian Institute of Management (NIM) and the Nigerian Institute of Stockbrokers (NIS). MBA Lagos Business School and B. Real Estate Mgt.
Akintunde Odeyemi
Principal Manager, Asset Management
