Lagos Will Lose, But Tax Reform Worth It — Sanwo-Olu

Lagos Will Lose, But Tax Reform Worth It — Sanwo-Olu

Gov. Babajide Sanwo-Olu of Lagos State has expressed support for the federal government-led tax reform, describing the state’s position as “extremely comfortable.”

The governor disclosed this on Wednesday during an interview with the News Agency of Nigeria (NAN) on the sidelines of the Africa Investment Forum, Market Days 2024, in Rabat, Morocco.

Sanwo-Olu emphasised the need for reforms despite resistance from certain quarters.

“What those uncomfortable with the tax reform are not willing to accept is that there is no way of making an omelette without breaking the egg.

“You cannot make changes if the reforms are not set in. I have advised that people should take time to read the provisions of the reform very well and to fully understand what they’re trying to do.

“I’ve seen comments around. Comments like Lagos is going to be the major beneficiary. It is not true. Lagos is actually going to be shaped off in some places, but on a larger scale basis, we see it as a global thing for a better governance structure.

“All of us will play better, and we’ll be able to discipline ourselves more. One of the things that you will see is that you need to work harder for you to get the full benefit of the reform. So it’s not just an easy kill,” he said.

The governor added that if the changes were not made, greater opportunities were inherent in the states of the federation as well as non-governmental actors.

According to him, Lagos State, indeed, will lose here and there, but will also have a bigger opportunity to have a bigger role to play.

“I have a positive attitude to it. I see it as a very wonderful reform.

Tax-to-GDP ratio in Nigeria is one of the

“So, there are a few things that need to happen, and like I keep saying, not only when you make those changes, you will not be able to see the opportunities that are found in your account.