SANWOOLU REFUTES CLAIMS LAGOS WILL GAIN MOST FROM TAX REFORM BILLS
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Babajide Sanwo-Olu, the governor of Lagos State, has refuted assertions that the planned tax reform legislation will only benefit Lagos.
Rejecting assertions that Lagos would be the main beneficiary, Sanwo-Olu urged Nigerians to take the time to comprehend the reform measures’ implications.
Babagana Zulum, the governor of Borno State, claimed that Lagos State would be the sole state to gain from the proposed Value-added Tax sharing scheme in the tax reform proposals during an appearance on Channels Television on December 2.
Zulum also cautioned that the laws would have disastrous effects on the Northern region and other regions of the nation.
However, Sanwo-Olu stated that everyone would need to put in more effort to fully profit from the reforms in an interview with NAN on the fringes of the Africa Investment Forum Market Days 2024 in Morocco on Wednesday.
He said, “What those uncomfortable with the tax reform are not willing to accept is that there is no way of making an omelette without breaking the egg.
“You cannot make changes if the reforms are not set in. I have advised that people should take time to read the provisions of the reform very well and to fully understand what they’re trying to do.
“I have seen comments around. Comments like Lagos is going to be the major beneficiary. It is not true. Lagos is actually going to be a shaped-off in some places, but on a larger scale basis, we see it as a global thing for a better governance structure.
“All of us will play better, and we’ll be able to discipline ourselves more. One of the things you will see is that you need to work harder to get the full benefit of the reform. So it’s not just an easy kill.”
Speaking further, Sanwo-Olu stated that while Lagos state may face some losses in certain areas, it will also gain greater opportunities to play a more significant role.
Noting that Nigeria has one of the lowest tax-to-GDP ratios in the world, he emphasized the urgent need for reform.
Nonetheless, the governor voiced hope that the suggested changes will open up important doors for all governments and non-governmental organizations.
He told Nigerians that the goal of the reforms is to create a just and inclusive system that works for everyone, not to harm anyone.
“I have a positive attitude to it. I see it as a very wonderful reform. The tax-to-GDP ratio in Nigeria is one of the lowest in the world,
“So, there are a few things that need to happen, and like I keep saying, not only when you make those changes, you will not be able to see the opportunities that are found in your account.
“We really need to be bullish. We need to be encouraging ourselves and know that the intention is not to hurt anybody. This, I am very sure of.
“The intention is to better a lot, but not just better a lot of one person or one set of people. It’s for all of us, and so we should look at it this way.”
Sanwo-Olu claimed to have personally asked the presidential tax reform committee, headed by Taiwo Oyedele, to step up its public engagement activities and to have aggressively engaged stakeholders in order to dispel any misunderstandings over the reforms.
Although he agreed that misconceptions are partly to blame for the opposition to the reforms, he pointed out that public participation is a good thing.
On October 3, President Bola Tinubu requested that the national assembly examine and approve four tax reform bills: the Joint Revenue Board Establishment Bill, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Nigeria Revenue Service Establishment Bill.
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