By Our Reporter
Lagos State Governor, Mr. Babajide Sanwo-Olu, has assured stakeholders in the tax sector that the state is committed to a fair, transparent, and growth-friendly tax system that supports sustainable development and shared prosperity.
Governor Sanwo-Olu expressed this commitment on Tuesday, while speaking at a Tax Reform Summit, jointly convened by the Lagos State Office of the Special Adviser on Taxation and Revenue and the Lagos State Treasury Office, held in Ikeja, Lagos as he commended President Bola Ahmed Tinubu for the bold step he took in bringing about tax reform.
"I give kudos to our dear President Bola Ahmed Tinubu for taking the steps he is taking, considering the fact that the pains are gradually giving way for the gains. He gave an assurance, we fully aligned with the ongoing tax reform agenda of our dear president," the governor said.
This was just as Governor Sanwo-Olu faulted some critics who he noted had said the reforms would put more burden on the poor and further strengthen the hand of the rich.
According to him, the reform, on the contrary, will protect small businesses, ensure that the rich fulfill their obligations to the society, block leakages and expand the tax net.
"On the contrary, it will protect small businesses, ensure that the rich fulfill their obligations to the society, block leakages and expand the tax net," he said.
Governor Sanwo-Olu added that what President Tinubu was doing was to simplify Nigeria’s tax laws, reduce multiplicity, strengthen administration, and modernize revenue collection through technology.
He, therefore, charged participants at the summit to ensure they produce clear, practical outcomes that support national reform objectives while reflecting the economic realities of Lagos State.
Besides, he charged the Federal Government to ensure that it advances reforms to harmonize tax laws, strengthen VAT administration, improve coordination across tiers of government, and separate tax policy from administration.
"Lagos State is positioning itself as a leading sub-national in the implementation of these reforms. Our focus is not merely compliance with new frameworks, but effective execution that delivers real value to citizens and businesses," he said.
Earlier in his speech, the Chairman, Presidential Physical Policy and Tax Reform Policy, Taiwo Oyedele, said tax reform in Nigeria was essential for fixing broken systems, not just raising rates.
He maintained that sub-national tax reform was crucial for Nigeria's economic survival and development, noting that trust is built when taxpayers see value for money and clear, consistently applied rules.
According to him, transparency in revenue utilization is necessary to improve taxpayer trust, saying that Lagos State is expected to demonstrate leadership in data quality for economic planning.
Oyedele, while noting that Nigeria's fiscal sustainability depends on effective tax harmonization and property taxation, disclosed that the presidential fiscal policy and tax reform committee had drafted a model law for states, urging that revenue collection should be harmonized within states to promote efficiency.
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