Follow Us on Google
Sanwo-Olu says tax is lifeblood of economy
_____________________
By Gabriel Dike
The Lagos State Governor, Mr Babajide Sanwo-Olu, on Tuesday made a passionate appeal to Nigerians to accept the new tax reform of Tinubu’s administration, describing tax as the lifeblood of a nation’s economy.
Governor Sanwo-Olu, who was represented by the Chairman, Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair, spoke at the University of Lagos (UNILAG) 2026 public lecture titled: “Navigating Nigeria’s Tax Reform: Implications for Fiscal Federalism and State Autonomy”.
UNILAG Vice Chancellor, Prof Folasade Ogunsola, said the university will continue to promote discourse on national issues and also question the status quo.
The Commissioner, Ministry of Tertiary Education, Tolani Sule, described the theme of the lecture as timely, given the take-off of the new tax laws in the country.
“Today, Nigeria stands at a defining moment in its economic journey. After years of relying heavily on oil revenues and borrowing, our government has embarked on a bold effort to overhaul the tax system with reforms designed to make our fiscal framework stronger, fairer, and more sustainable.
“Let us start with a simple truth: taxes are not just a drain on our pockets. They are the lifeblood of our economy. They fund essential services such as healthcare, education, and infrastructure. When we talk about tax reform, we are speaking about a chance to open new doors for economic prosperity,” Sanwo-Olu stated.
The governor tasked Nigerians to embrace the tax reforms not with fear, “but with the confidence that together we can build a Nigeria that sustains its people and thrives economically for generations to come.”
In her remarks, Prof Ogunsola said the lecture is part of UNILAG’s contribution to interrogating the new tax laws.
Other News
The VC further noted that the lecture reflects the determination of the university to contribute to national discourse on important issues.
In his keynote address, the tertiary education commissioner, Mr Sule, said the governor’s unwavering support for knowledge is shaping policies in Lagos State.
According to him, Sanwo-Olu remains committed to investing in tertiary education, thus helping institutions attain global standards.
The governor charged universities in the country to remain active partners in formulating policies for the government to better the lot of Nigerians.
The speaker and Dean, Faculty of Law, University of Lagos, Prof Abiola Sanni, acknowledged that Nigeria’s Constitution establishes taxation as a shared responsibility among the federal, state and local governments.
Prof Sanni observed that sustainable reform therefore requires states to take full ownership of their constitutional taxing powers and to pursue deliberate, institutionally grounded tax reforms.
He expressed gratitude to the Lagos State Government for its endorsement of the Professorial Chair on Taxation and Fiscal Matters in the Department of Commercial and Industrial Law, noting that the platform has afforded him invaluable opportunities to contribute to the evolution of tax policy and law reform in the country.
Chairman of UNILAG Governing Council, Chief Wole Olanipekun, commended the Faculty of Law for the lecture on the current tax laws.
