The Centre for Media and Communication is established at the Victoria Island Campus.
Lekki Campus completed. LBS begins to offer full-time MBA. The Enterprise Development Centre (EDC) begins to offer services to SMEs.
Federal Government approves Pan-African University. The LBS becomes first school of the University. Executive MBA begins at LBS. Prof. Albert Alos becomes the first Vice-Chancellor of the University. Chief Olu Akinkugbe becomes the first Pro-Chancellor and Chairman of the Governing Council.
Joint Executive MBA with IESE Business School begins. Owner Managers Programme (OMP) starts. Land for the Lekki Campus is allocated to LBS by Lagos State Government.
The building at Victoria Island is completed.