Lagos Governor Pledges Transparent 2026 Tax System To Protect Small Businesses

According to Ireporter Online, Lagos State Governor Babajide Sanwo-Olu has reaffirmed his administration’s commitment to a transparent, fair, and business-friendly tax system designed to foster sustainable development and shared prosperity.

The governor made the remarks on Tuesday at the Tax Reform Summit, jointly organized by the Office of the Special Adviser on Taxation and Revenue and the State Treasury Office. The summit carried the theme, “Tax Reform Summit: The Lagos Implementation Road Map, From Reforms to Results.”

Speaking as the chief host, Sanwo-Olu highlighted Lagos State’s alignment with the ongoing national tax reform agenda initiated by President Bola Tinubu, emphasizing that the reforms were already producing positive results despite initial challenges.

“I commend President Bola Tinubu for his efforts, as the initial challenges are gradually giving way to measurable benefits. Lagos State is fully aligned with the ongoing tax reform agenda,” the governor said.

He further stressed that the reforms are intended not to burden citizens or businesses but to create a more equitable system that protects small enterprises, ensures the wealthy meet their obligations, reduces leakages, and broadens the tax base.

Sanwo-Olu also emphasized Lagos State’s ambition to be a leader among sub-national governments in implementing tax reforms, noting that the focus extends beyond mere policy adoption to effective execution that delivers tangible benefits to citizens and businesses.

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reform Committee, underscored the importance of tax reforms for fixing systemic weaknesses rather than simply raising tax rates. He highlighted that sub-national reforms are critical for Nigeria’s economic stability and long-term growth.

Oyedele added that building trust between taxpayers and government depends on delivering value for money and consistently applying tax rules. He noted that transparency in revenue utilization is key to enhancing taxpayer confidence and stated that Lagos State is expected to lead in data quality to support sound economic planning.