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.
The Advanced Management Programme (AMP), and the Senior Management Programme (SMP) of the LBS start. Prof. Albert Alos becomes the Director-General
The Chief Executive Programme of the LBS commences.