Lagos State Governor, Babajide Olusola Sanwo-Olu, has stated that under President Bola Ahmed Tinubu’s administration, no state governor or local government chairman can legitimately claim a lack of funds.
Sanwo-Olu made the remarks on Tuesday, November 11, while delivering the keynote address at a one-day public lecture organised by the Arewa Think Tank (ATT) at Arewa House, Kaduna. The lecture marked Nigeria’s 65th Independence anniversary and focused on “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View.”
The governor said the Tinubu administration has significantly increased allocations to states and local governments, enabling them to meet developmental obligations more effectively. “Today, that story has changed. Ask any State Governor or Local Government Chairman, and they will tell you just how much revenue has surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more that benefits the people of Nigeria,” he stated.
He attributed the improved fiscal outlook to policy reforms designed to strengthen federalism. Between 2023 and 2024, federal allocations to state governments rose by about 62 percent, while local government allocations increased by 47 percent. Recent tax reforms, reducing the Federal Government’s share of Value Added Tax (VAT) from 15 percent to 10 percent, have allowed states to retain 55 percent of VAT and local governments 35 percent.
Sanwo-Olu also praised Tinubu’s efforts to secure local government financial autonomy through the Supreme Court and highlighted the President’s plan to restructure Nigeria’s security architecture by creating State Police, describing it as “long overdue and fundamental.”
He described the Renewed Hope Agenda as a framework for unity, equity, and inclusive development. “President Tinubu is a veteran unifier and a bridge-builder. His Renewed Hope Agenda is about connecting Nigeria, bridges of reform, prosperity, and national unity,” he said, emphasising that Nigeria’s diversity is a strength.
Sanwo-Olu concluded by pledging Lagos State’s partnership with the Federal Government to advance the Renewed Hope Agenda, affirming that, “The task ahead is immense, but together, guided by unity and purpose, we will achieve it.”
