The Governor of Lagos State, Babajide Sanwo-Olu, on Tuesday reaffirmed his administration’s commitment to a fair, transparent and business-friendly tax reform system aimed at promoting sustainable development and shared prosperity in the state.
Sanwo-Olu gave the assurance at the Tax Reform Summit, jointly organised by the Office of the Special Adviser on Taxation and Revenue and the State Treasury Office.
Naijaonpoint reports that the summit was themed ‘Tax Reform Summit: The Lagos Implementation Road Map, From Reforms to Results.’
Speaking as the Chief Host, the governor said Lagos State was fully aligned with the ongoing tax reform agenda of President Bola Tinubu, noting that the reforms were already yielding positive outcomes despite initial challenges.
“I give kudos to our dear President Bola Tinubu for taking the steps he is taking, considering the fact that the pains are gradually giving way for the gains. We fully aligned with the ongoing tax reform agenda of our dear President,” Sanwo-Olu said.
He stressed that the reforms were not intended to burden citizens or businesses but to create a more equitable system.
“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 added.
Sanwo-Olu said Lagos was positioning itself as a leading sub-national government in the implementation of tax reforms, emphasising that the focus was beyond policy adoption.
“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,” the governor stated.
Earlier, the Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, said tax reform in Nigeria was necessary to fix broken systems rather than simply increasing tax rates.
Oyedele maintained that sub-national tax reform was critical to Nigeria’s economic survival and long-term development.
He added that trust between taxpayers and government could only be built when citizens saw value for money and when tax rules were applied clearly and consistently.
According to him, transparency in revenue utilisation was essential to improving taxpayer confidence, noting that Lagos State was expected to demonstrate leadership in data quality to support effective economic planning.