Connect with us

News

‘It’s a lie’ — Sanwo-Olu refutes claims Lagos will benefit most from tax reforms

Published

on

 

Babajide Sanwo-Olu, governor of Lagos state, has refuted claims that Lagos will benefit most from proposed tax reforms.

Speaking on the sidelines of the Africa Investment Forum Market Days 2024 in Morocco on Wednesday, Sanwo-Olu urged Nigerians to take time to understand the provisions of the reforms, countering claims that Lagos would be the primary beneficiary.

 

On December 2, Babagana Zulum, governor of Borno state, said the proposed value-added tax (VAT) sharing model in the tax reform bills will only benefit Lagos and Rivers states.

Refuting the claim, Sanwo-Olu said the statement is untrue, adding that the reforms would require everyone to work harder to realise their full benefits.

 

“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,” Sanwo-Olu said.

 

“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.

See also  State in limbo: Niger Governor, deputy, speaker travel for Hajj

 

“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. Some of the things that you will see is that you need to work harder for you to get the full benefit of the reform. So it’s not just an easy kill.”

 

According to Sanwo-Olu, while Lagos state may face some losses in certain areas, it will also gain greater opportunities to play a more significant role.

He stressed the urgent need for reform, pointing out Nigeria’s low tax-to-GDP ratio, which ranks among the lowest globally.

 

‘TAX BILLS WILL UNLOCK SIGNIFICANT OPPORTUNITIES’

The governor expressed optimism that the proposed reforms would unlock significant opportunities for all states and non-governmental actors.

See also  'Individuals took advantage to act irresponsibly' — Community leaders deny rape claims, blame youths for exploiting festival to harass women

 

He reassured Nigerians that the reforms are not intended to hurt anyone but to foster a fair and inclusive system that benefits everyone.

 

“I have a positive attitude to it. I see it as a very wonderful reform. Tax-to-GDP ratio in Nigeria is one of the lowest in the world,” the governor said.

“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, who attended the forum alongside other governors to attract investors, said he has been actively engaging stakeholders to clarify misconceptions about the reforms.

See also  Burying the hatchet: Sanwo-Olu, Ambode meet,  hold talks over ‘future of Lagos’

The governor said he has personally urged the presidential tax reform committee, led by Taiwo Oyedele, to intensify its public engagement efforts.

 

He also acknowledged that some of the resistance to the reforms stems from misunderstandings but noted that public engagement is a positive development.

 

On October 3, President Bola Tinubu asked the national assembly to consider and pass four tax reform bills.

 

The four bills are the Nigeria tax bill, the Nigeria tax administration bill, the Nigeria Revenue Service establishment bill and the joint revenue board establishment bill.

The Northern States Governors Forum (NSGF) opposed the bills, claiming it will negatively impact their region.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

EFCC says it froze Osun account over ‘fraudulent handling’ of N11bn ecological, intervention funds

Published

on

By

The Economic and Financial Crimes Commission (EFCC) has explained that it froze the bank account of the Osun state government over alleged fraudulent handling of N11 billion ecological and intervention funds.

The anti-graft agency, in a statement on Wednesday, said it has been investigating the Osun state government since March regarding the alleged mishandling of the funds.

According to the agency, some officials of the state government, including the accountant-general of the state, had been interviewed by EFCC investigators.

The agency said amid the probe, it observed that huge transfers of funds were being made from the account into different corporate entities since August 2.

“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the statement reads.

See also  Sanwo-Olu orders immediate evacuation of waste across Lagos

“The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.

“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.

“The Commission cannot watch idly while a state government’s account is being pillaged.”

The anti-graft agency said it is aware of the forthcoming Osun governorship election, adding that it is “uncharitable” to overlook the huge transfers of funds over the “excuse of an upcoming election”.

“The Osun State government account was frozen to save public funds from being looted,” the agency said.

In a letter dated August 5, 2026, and signed by Adenike Babalola, assistant commander of the EFCC on behalf of the director of investigation, the anti-graft agency directed First Bank not to allow withdrawals from the Osun state government’s statutory allocation account as part of an ongoing investigation.

See also  Don't engage in excessive borrowings, World Bank economist warns countries

The agency instructed the bank to place a post-no-debit restriction on the account pending the conclusion of the probe.

Reacting to the development, Ademola Adeleke, Osun governor, said the state government will not accept a situation in which federal government agencies trample upon the rights of subnational governments.

Adeleke said the Osun government has been witnessing numerous sponsored attacks, including the harassment of Accord party members and the move to stall the operations of LGAs in the state.

Adeleke said he has directed the attorney-general of the state to challenge the “illegality”.

Continue Reading

News

Osun threatens lawsuit as EFCC freezes govt account 10 days to election

Published

on

By

Less than 24 hours after Governor Ademola Adeleke alleged that the Economic and Financial Crimes Commission (EFCC) was planning to freeze the state government account domiciled with First Bank, the anti-graft agency has reportedly freezed the account, according to Vanguard.

The account, reportedly used for the payment of workers’ salaries, was placed on “Post No Debit” status by the anti-graft agency.

The development came hours after Governor Ademola Adeleke raised the alarm that the EFCC was planning to freeze the state government’s accounts and those of top government officials ahead of the August 15 governorship election.

In a statement issued earlier on Wednesday by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, Adeleke described the alleged move as an attempt to cripple government activities before the poll.

The governor had insisted that there was no legal basis for freezing the accounts of a state government, arguing that the EFCC lacked the statutory powers to take such action.

See also  PHOTOS: Dangote, Abiodun, others visit Herbert Wigwe’s parents

However, a source reportedly told Vanguard that the account had already been restricted.

“I can confirm that the state government account has been frozen by the EFCC. It is no longer an allegation. The governor will address the press shortly to update the public on the situation,” the source reportedly told Vanguard.

The reason for the restriction was not immediately known as of the time of filing this report.

The EFCC had yet to issue an official statement on the development.

The development comes as Osun prepares for its August 15 governorship election, with the account restriction expected to generate political reactions ahead of the poll.

Meanwhile, the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada, had said he has the mandate of the governor to sue the Economic and Financial Crimes Commission for freezing the government accounts.

Jimi-Bada said a ‘Post no debit’ letter from the EFCC was forwarded to the management of the First Bank where Osun government accounts were domiciled on Wednesday.

See also  Many feared trapped as four-storey building collapses in Lagos 

The commissioner, who expressed readiness to proceed to court, said the move by the anti-graft agency may hamper government’s business, noted that Governor Ademola Adeleke was not using state funds to run its campaign for reelection.

“I have the mandate of the governor to proceed to the Federal High Court to challenge this move. EFCC can investigate the accounts but it can’t freeze the accounts without order of court.

Continue Reading

News

WAEC releases 2026 WASSCE results, withholds 167,486 candidate’s results over malpractice 

Published

on

By

The West African Examinations Council says it is withholding the results of 167,486 candidates, representing 8.59 per cent of those who sat the 2026 Computer-Based West African Senior School Certificate Examination for School candidates, over alleged examination malpractice.

This was disclosed by the Head of WAEC Nigeria National Office, Dr Amos Dangut, who announced the release of the results in Lagos on Wednesday.

The number of withheld reults, however, represents a decline from the 9.7 per cent recorded in 2025.

Dangut said the council withheld the affected results due to various infractions, including the increasing use of mobile phones in examination halls despite the existing ban and organised cheating in some schools.

“The increasing use of cell phones in the examination hall, in spite of the existing ban, and organised cheating in some schools, are other nagging issues,” Dangut said.

He added that some supervisors and invigilators found assisting candidates in malpractice had been arrested and would face disciplinary action through the relevant state ministries of education.

See also  Many feared trapped as four-storey building collapses in Lagos 

A total of 1,959,668 candidates from 24,207 schools registered for the examination across Nigeria, Benin Republic, Côte d’Ivoire and Equatorial Guinea, while 1,950,726 candidates eventually sat for the examination.

1,200,514 candidates (61.54 per cent) obtained credits and above in at least five subjects, including English Language and Mathematics.

1,687,378 candidates (86.50 per cent) secured credits and above in a minimum of five subjects, with or without English Language and Mathematics.

The number of candidates who obtained credits in five subjects including English and Mathematics dropped by 1.42 percentage points compared with the 2025 examination.

Of the 1.2 million candidates who achieved credits in English and Mathematics:

558,883 (28.65 per cent) were male.

641,631 (32.89 per cent) were female.

Overall, 997,267 females (51.12 per cent) and 953,459 males (48.88 per cent) participated in the examination.

WAEC said 1,834,695 candidates, representing 94.05 per cent, had their results fully processed and released, while the results of 116,031 candidates (5.95 per cent) were still being processed.

See also  Reps postpone special session on tax reform bills

The council also disclosed that 1,213 candidates with special needs participated in the examination. They included:

137 visually impaired candidates;

491 candidates with hearing impairment;

55 spastic and mentally challenged candidates; and

41 physically challenged candidates.

The 2026 examination marked the second edition of the Computer-Based WASSCE for School Candidates, following the introduction of the format by WAEC.

Dangut said the council introduced several innovations, including the Digital Examiner Mark System to improve the speed of processing results, serialisation of question papers to curb malpractice, and a new portal that allows candidates to generate e-PINs directly for checking their results.

The examination was conducted between April 24 and June 19, 2026, with 102,708 examiners involved in marking across 88 marking venues.

Dangut, who described the briefing as his third and final engagement as WAEC Nigeria National Office head, said candidates sponsored by states indebted to the council would not have their results released until the outstanding payments were cleared.

See also  Police seize truck-load of fake drug warehouses in Lagos, arrest two

Continue Reading

Trending News