Lagos Governor Sanwo-Olu Discusses Tax Reforms, Infrastructure, And Local Governance

Introduction
Lagos State Governor, Babajide Sanwo-Olu, shared insights on key developments in Lagos during a recent TVC interview. Topics ranged from tax reform bills and infrastructural advancements to local government autonomy and food security. Here’s a detailed overview of his remarks.

Transforming Lagos State: A Resilient Vision for 2025

Governor Sanwo-Olu emphasized leveraging lessons from 2024’s economic challenges to reshape Lagos in 2025. He highlighted Lagos as not only Nigeria’s economic hub but also a growing entertainment capital for sub-Saharan Africa, attracting both local and international audiences.

Key focus areas include creating opportunities for residents and enhancing socioeconomic development.

Boosting Internally Generated Revenue (IGR)

Sanwo-Olu underlined the importance of structured events in Lagos to attract tourism and investments. A year-long calendar of activities—spanning fashion, arts, digital economy, and cultural showcases—is planned to help visitors and investors organize their trips.

The governor also stressed private-sector collaboration to expand the hospitality industry, ensuring adequate infrastructure for seamless visitor experiences.

Planned Initiatives:

Enhancing security and public transport.
Encouraging private investments in hospitality and real estate.
Creating temporary employment opportunities during peak event seasons.

Tax Reform Bills: Educating and Convincing Stakeholders

Initially, many governors were skeptical of the Tax Reform Bills. However, Sanwo-Olu confirmed that awareness efforts have led to widespread acceptance. The reforms promise a more equitable revenue distribution among federal, state, and local governments.

Key Points on Tax Reforms:

Increased revenue tracking and collection.
Fairer allocation of resources across all regions.
Improved financial transparency and accountability.

Sanwo-Olu debunked misconceptions that the reforms favor Lagos disproportionately, clarifying that the state also faces challenges in implementation.

Infrastructure Projects: Fourth Mainland Bridge and More

The governor shared updates on infrastructural projects like the Fourth Mainland Bridge, valued at $2 billion. Despite funding constraints, creative financial models are being explored to ensure project sustainability without overburdening Lagos’ debt profile.

Other ongoing projects include:

Omu Creek Bridge – Facilitating movement to a new island.
Regional Road – Connecting VGC to Freedom Road.
Lagoon Highway – Easing traffic along the waterfront.

Advancing Food Security in Lagos

To address food sufficiency, Lagos is developing Africa’s largest food logistics hub in Ketu-Ejinrin. Expected to launch mid-2025, this hub will enhance food storage, distribution, and affordability.

Ongoing Projects:

Building middle-level markets in Mushin, Ajah, Agege, and Ikorodu.
Partnering with states like Niger and Kwara to secure food supplies.
Enhancing rice production to stabilize prices.

Local Government Autonomy and Collaboration

Sanwo-Olu reaffirmed Lagos’ compliance with local government autonomy. Funds allocated to local governments remain untouched, fostering independent decision-making and project execution.

Highlights include:

Conducting local government elections in 2025.
Collaborative funding for security and infrastructure projects.

He also clarified that Lagos’ Local Council Development Areas (LCDAs) will remain operational, playing a pivotal role in grassroots development.

Conclusion: A Vision for Inclusive Growth

Governor Sanwo-Olu’s administration is committed to driving Lagos toward economic resilience, social equity, and sustainable growth. Through tax reforms, strategic infrastructure projects, and public-private partnerships, Lagosians can look forward to transformative development in 2025.