Lagos State Governor, Babajide Sanwo-Olu, has claimed that under the administration of President Bola Ahmed Tinubu, no state governor or local government chairman can complain of a lack of funds.
He noted that federal allocations to subnational governments have risen significantly, empowering them to deliver more impactful projects to their citizens.
Governor Sanwo-Olu made this statement on Tuesday, during a one-day public lecture organized by the Arewa Think Tank (ATT) to commemorate Nigeria’s 65th Independence Anniversary, held at the Arewa House, Kaduna.
The event, themed “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” brought together political leaders, academics, youths, and stakeholders from various sectors to assess Nigeria’s progress under President Tinubu’s Renewed Hope Agenda.
Speaking at the event, Governor Sanwo-Olu praised the resilience of Nigerians since independence, saying the nation had weathered numerous challenges but continued to demonstrate remarkable capacity for unity and growth.
“Today that story has changed. Ask any State Governor or Local Government Chairman, and they will tell you just how much revenues have surged under the watch of President Bola Ahmed Tinubu. There is now more money to do more that benefits the people of Nigeria,” Sanwo-Olu stated.
The governor attributed the improved financial standing of states and local governments to deliberate reforms introduced by President Tinubu to strengthen true federalism and enhance fiscal decentralization.
According to him, between 2023 and 2024, federal allocations to states increased by about 62 percent, while local governments saw a 47 percent rise. He added that recent tax reforms, which reduced the Federal Government’s share of Value Added Tax (VAT) from 15 percent to 10 percent, clearly demonstrated the President’s commitment to empowering subnational governments.
“With the new tax laws, States now get 55 percent of VAT while Local Governments receive 35 percent. This is another bold step by the President to ensure that governance is closer to the people,” he said.
Sanwo-Olu also commended President Tinubu for ensuring financial autonomy for local governments, describing the Supreme Court judgment that backed it as a “historic milestone in Nigeria’s democratic journey.”
He further revealed that the President’s next major reform would focus on restructuring the country’s security framework through the creation of State Police an initiative he described as “long overdue and fundamental.”
Quoting President Tinubu’s recent remarks during a meeting with Katsina leaders, Sanwo-Olu said: “I am reviewing all aspects of security. I have to create a State Police. We are looking at that holistically. We will defeat insecurity.”
The Lagos governor described the Renewed Hope Agenda as a “bridge-building framework” that seeks to unite Nigeria’s diverse regions through equity, reform, and inclusive development.
“President Tinubu is a veteran unifier and a bridge-builder. His Renewed Hope Agenda is about connecting Nigeria bridges of reform, of prosperity, and of national unity,” he noted.
Drawing inspiration from Nigeria’s founding fathers, especially the late Sir Ahmadu Bello, Sanwo-Olu urged leaders to build on the nation’s enduring legacies and ensure sustainable progress.
“More than six decades later, the Sardauna’s words still ring true. Our duty is to build on those legacies, planting trees we may not sit under, but ensuring a better Nigeria for future generations,” he said.
He reaffirmed Lagos State’s unwavering commitment to partnering with the Federal Government in achieving the Renewed Hope Agenda and building a united, prosperous Nigeria.
“We will continue to affirm that Nigeria is a proudly multi-ethnic, multi-religious, and multicultural country. What binds us together is far stronger than what divides us. We shall overcome every challenge poverty, hunger, and terrorism,” he declared.
In his remarks , Chairman of the Occasion Pious Anyim Pious former Former Secretary to the Government of the Federation said stakeholders engagement is key to the success of any government policies.
He further commended the organizers of the event for bringing citizens together to discuss the future of Nigeria as the country marked 65 years of Independence.
Similarly, the convener of the event, Muhammad Yakubu, assured Nigerians that the president will take Nigeria to the Promised Land, saying the country has recorded improvement in the areas of education, agriculture, and infrastructure development.