Rita Odafe
Governor Sanwo-Olu Expresses Support for Tax Reform
Lagos State Governor Babajide Sanwo-Olu has voiced his agreement with the federal government’s tax reform, describing the state’s stance as “very secure.”
This statement was made during an interview with the News Agency of Nigeria (NAN) while attending the Africa Investment Forum, Market Days 2024, held in Rabat, Morocco.
Sanwo-Olu acknowledged the ongoing push for tax reforms, despite some opposition facing these changes.
“Those who oppose the tax reform need to recognize that you can’t create an omelette without cracking some eggs,” he said. “Reforms require foundational changes.”
He advised that individuals should thoroughly review the reform details to fully grasp their implications.
“There have been misconceptions regarding Lagos being the main beneficiary of these reforms, which is incorrect. While Lagos may experience some losses, on a wider scale, the focus is on enhancing governance globally,” he explained.
“We all need to strive harder to reap the benefits of these reforms, making it clear that this isn’t an effortless gain,” he added.
Sanwo-Olu pointed out that without these adjustments, there were considerable opportunities available in various states and among non-governmental sectors.
While acknowledging that Lagos could face some setbacks, he also sees a chance for the state to assume a more significant role in the broader context.
“I maintain a positive outlook towards this reform, viewing it as a significant step forward,” he stated.
“Nigeria’s tax-to-GDP ratio is among the lowest globally. Changes are necessary, and it’s essential to recognize the opportunities they could bring,” he said.
He encouraged a more optimistic attitude towards the reform, assuring that the goal was not to disadvantage anyone.
“The aim is to benefit as many as possible, not just a select few, and we should keep this perspective,” he added.
During his trip to Morocco, alongside several colleagues, Sanwo-Olu engaged with potential investors at the African Investment Forum, discussing the tax reform’s implications.
“I have been proactive in discussing this with them and have encouraged the Presidential Tax Reform Committee, led by Mr. Taiwo Oyedele, to maintain ongoing public dialogue,” he said. “I spoke with him yesterday about enhancing our communication and clarifying key aspects of the reform.”
He believes that misunderstandings stem from a lack of clear information, but he remains optimistic about the reform’s potential benefits.
