Lagos State Governor, Babajide Sanwo-Olu, says the fiscal reforms introduced by President Bola Ahmed Tinubu have significantly boosted revenue allocations across the country, leaving no state governor or local government chairman with an excuse to complain about inadequate funds.
Speaking at a public lecture organised by the Arewa Think Tank (ATT) to mark Nigeria’s 65th Independence anniversary on Tuesday in Kaduna, Sanwo-Olu said federal allocations to subnational governments have surged, enabling more developmental projects nationwide.
The lecture, themed “65th Year of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” attracted political leaders, scholars, youth groups, and policymakers who assessed the nation’s progress under the current administration.
According to Sanwo-Olu, the financial situation of states and local councils has improved remarkably since the implementation of Tinubu’s fiscal and tax reforms.
“Today, that story has changed. Ask any state governor or local government chairman, and they will confirm how much revenue has grown under President Tinubu. There is now more money to do more for Nigerians,” he said.
The governor disclosed that between 2023 and 2024, state allocations rose by about 62 percent, while local governments recorded a 47 percent increase. He also commended the administration’s revised VAT structure, which reduced the Federal Government’s share from 15 to 10 percent, granting states 55 percent and local governments 35 percent.
“This is another bold step by the President to bring governance closer to the people,” Sanwo-Olu noted.
He described the Renewed Hope Agenda as a bridge-building initiative aimed at promoting unity, inclusiveness, and equitable development across Nigeria’s diverse regions.
“President Tinubu is a proven unifier and bridge-builder. His Renewed Hope Agenda is about connecting Nigeria through reform, prosperity, and national cohesion,” he added.
Reaffirming Lagos State’s support for the Federal Government’s agenda, Sanwo-Olu stressed the importance of collective effort in achieving national transformation.
“The task ahead is immense, but together, guided by unity and purpose, we will achieve it,” he said.
