As Uproxx has so astutely pointed out, Michael Mando revealed in this Huffington Post interview that

As Uproxx has so astutely pointed out, Michael Mando revealed in this Huffington Post interview that the Ignacio referred to in this scene of Episode 2.8 of Breaking Bad, “Better Call Saul,” is none other than that scalawag, Nacho. 

I really hope this means we will get to meet Lalo before this season is over, because he sounds like a real sweeheart. I just learned that the Latin meaning of the name Lalo is “to sing a lullabye,” which seems to confirm that theory.