Lagos Governor, Babajide Olusola Sanwo-Olu, has said that under the administration of President Bola Ahmed Tinubu, no state governor or local government chairman can complain of lack of funds as federal allocations to sub-national governments have increased significantly.
Sanwo-Olu stated this on Tuesday at a one-day public lecture organized by the Arewa Think Tank (ATT) to commemorate the 65th anniversary of Nigeria’s independence. The event, held at Arewa House in Kaduna, was themed: “65th Year of Nigeria’s Independence: The Journey So Far with the Agenda of Renewed Hope in Sight.”
The conference brought together political leaders, academics, youth representatives and other stakeholders to assess Nigeria’s progress and prospects under President Tinubu’s Renewed Hope Agenda.
Governor Sanwo-Olu praised the resilience of Nigerians since independence and acknowledged the enduring strength of the nation despite decades of challenges.
“Today, that story has changed. Ask any state governor or local government chairman and he will tell you how much revenue has increased under the leadership of President Bola Ahmed Tinubu. There is now more money to do more things that benefit the people of Nigeria,” Sanwo-Olu said.
He attributed the improvement in fiscal conditions to the deliberate political reforms introduced by President Tinubu, particularly those aimed at strengthening federalism and empowering state and local governments.
According to him, between 2023 and 2024, federal allocations to state governments increased by approximately 62 percent, while those allocated to local governments increased by 47 percent.
He also highlighted the new tax reforms, which reduced the Federal Government’s participation in the Value Added Tax (VAT) from 15 percent to 10 percent, as evidence of the administration’s commitment to fiscal decentralization.
“With the new tax laws, states now get 55 percent of VAT, while local governments get 35 percent. This is another bold step by the President to ensure that governance is closer to the people,” he noted.
Sanwo-Olu also commended President Tinubu’s unwavering commitment to the financial autonomy of local governments, recalling the administration’s victory at the Supreme Court that secured historic legal backing for such autonomy.
He revealed that the president’s next major reform is to restructure Nigeria’s security architecture through the creation of the State Police, something he described as “fundamental and long overdue.”
Citing President Tinubu’s remarks during a meeting with Katsina leaders, Sanwo-Olu quoted:
“I am reviewing all aspects of security. I have to create a State Police. We are analyzing it comprehensively. We will defeat insecurity.”
The governor described the Renewed Hope Agenda as a bridge-building framework designed to unite the diverse regions of Nigeria through equity, reform and inclusive development.
“President Tinubu is a veteran unifier and bridge builder. His Renewed Hope Agenda is about connecting Nigeria: bridges of reform, prosperity and national unity,” he said.
Inspired by the founding fathers of Nigeria, particularly Sir Ahmadu Bello, Sanwo-Olu emphasized that sustainable development must be local and context-specific.
“More than six decades later, Sardauna’s words still ring true. Our duty is to build on those legacies, planting trees we cannot sit under, but ensuring a better Nigeria for future generations,” he said.
Reaffirming Lagos State’s partnership with the Federal Government, Sanwo-Olu pledged continued collaboration to actualize the Renewed Hope Agenda and build a prosperous, inclusive and resilient Nigeria.
“The task before us is immense, but together, guided by unity and purpose, we will achieve it,” he concluded.