Lagos State Governor, Babajide Sanwo-Olu, has restated his administration’s resolve to build a fair, transparent and business-friendly tax system designed to support long-term economic growth and inclusive prosperity across the state.
The governor gave the assurance on Tuesday at the Tax Reform Summit organised by the Office of the Special Adviser on Taxation and Revenue in collaboration with the State Treasury Office.
The event focused on translating policy changes into measurable outcomes and was themed “Tax Reform Summit: The Lagos Implementation Road Map – From Reforms to Results.”
Speaking as the chief host, Sanwo-Olu said Lagos State is fully in step with the tax reform initiatives being driven at the federal level by President Bola Tinubu. He acknowledged that while the reforms initially came with difficulties, they are already beginning to deliver positive results.
He praised President Tinubu for his bold approach, noting that the short-term discomfort associated with the reforms is gradually giving way to long-term benefits. According to him, the reforms are not meant to overburden residents or businesses but to create a more balanced and just tax system.
Sanwo-Olu explained that the new direction would shield small businesses, ensure wealthy individuals and large corporations meet their social responsibilities, close revenue leakages and widen the tax base without stifling economic activity.
The governor also said Lagos aims to set the pace among sub-national governments in the practical implementation of tax reforms. He stressed that the state’s priority goes beyond adopting new policies to ensuring effective execution that delivers tangible benefits to residents and the business community.
Earlier, the Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, said Nigeria’s tax reforms are focused on fixing structural weaknesses rather than simply raising tax rates. He described reforms at the state and local levels as vital to the country’s economic stability and future growth.
Oyedele added that building trust between taxpayers and government depends on accountability and clear application of tax laws. He noted that citizens are more willing to comply when they can see how their taxes are being used and receive value in return.
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He further emphasised the importance of transparency in revenue management and said Lagos State is expected to lead by example, particularly in improving data quality to support sound economic planning and informed decision-making.
