Babajide Sanwo-Olu, governor of Lagos state, says under President Bola Tinubu’s administration, no state governor or LG chairperson can complain of inadequate funding.
Speaking in Kaduna on Tuesday during a public lecture organised by the Arewa Think Tank (ATT), Sanwo-Olu noted that federal allocations to states and LGs have increased significantly to support their developmental mandates.
The event, which was held at the Arewa House, had as its theme “65th Year of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View.”
He commended Nigerians’ resilience over the decades, noting that despite the country’s socio-economic and political challenges, the citizens have continued to demonstrate faith, unity, and an enduring capacity for reform.
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“Ask any state governor or local government chairperson, and they will tell you how much revenue has surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more for the people of Nigeria,” Sanwo-Olu said.
He noted that the improved fiscal conditions across states and LGAs were the result of deliberate policy reforms introduced by the Tinubu administration, aimed at strengthening federalism and enhancing grassroots development.
The Lagos governor said between 2023 and 2024, federal allocations to states increased by about 62 percent, while allocations to LGAs rose by 47 percent.
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He also highlighted recent tax reforms that reduced the federal government’s share of the value-added tax (VAT) from 15 to 10 percent, increasing states’ share to 55 percent and LGs to 35 percent.
“With the new tax laws, states now get 55 percent of VAT, while local governments receive 35 percent. This is another bold step by the President to ensure governance is closer to the people,” he said.
“These reforms demonstrate President Tinubu’s commitment to fiscal decentralisation and bringing governance closer to the people.”
The governor also commended Tinubu’s commitment to LG financial autonomy, recalling the supreme court ruling affirming the autonomy.
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He said restructuring of Nigeria’s security architecture through the creation of state police is the next major reform priority.
Sanwo-Olu reaffirmed Nigeria’s unity in diversity, saying, “what binds us together is far stronger than what divides us. We shall overcome poverty, hunger, and terrorism.”
He assured that Lagos would continue to partner with the federal government to advance the renewed hope agenda and build a prosperous, inclusive, and resilient Nigeria.
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