By Atoyebi Nike
Lagos State Governor Babajide Sanwo-Olu has assured residents that ongoing federal tax reforms will neither harm the poor nor favour the wealthy but instead create a fairer and more efficient system.
The governor spoke on Tuesday at the Lagos Tax Reform Summit in Ikeja, ahead of the Tax Act’s implementation scheduled for Thursday, January 1, 2026. Concerns have emerged over allegations that parts of the National Assembly-passed tax laws were altered in the gazetted versions.
Sanwo-Olu emphasized that the reforms aim to protect small businesses, ensure the wealthy meet their obligations, close revenue leakages, and fairly expand the tax net. He commended President Bola Tinubu for championing bold measures to fix a long-broken system.
“The reforms are not about increasing tax burdens but about fixing inefficiencies, eliminating multiple taxation, and building trust in the system. Lagos will work closely with federal authorities to ensure a fair and predictable tax environment for all,” he said.
The summit, themed “The Lagos Implementation Road Map – From Reforms to Results: Creating a Tax Environment that Works for All,” was organized by the Office of the Special Adviser on Taxation and Revenue and the State Treasury Office.
Governor Sanwo-Olu highlighted that the reforms would block revenue leakages, reduce duplication in tax collection, and strengthen accountability while safeguarding small businesses and vulnerable citizens.
Special Adviser on Taxation and Revenue, Mr. Abdulkabir Ogungbo, noted that Lagos had set up a state-level committee to coordinate with the Presidential Committee on Fiscal Policy and Tax Reforms, engaging ministries, revenue agencies, financial institutions, transport operators, and local governments.
Commissioner for Finance Mr. Abayomi Oluyomi stressed the need for synergy between federal and state governments to ensure successful implementation, while the Lagos State Internal Revenue Service (LIRS) Chairman, Mr. Ayodele Subair, said the reforms would simplify compliance for small and medium enterprises and protect low-income earners.
Delivering the keynote, Chairman of the Presidential Committee on Fiscal Policy and Tax Reform, Mr. Taiwo Oyedele, emphasized that standardization and harmonization across states, including Lagos, are essential for restoring taxpayer confidence and achieving long-term fiscal sustainability.
