Nigeria: Federal allocations to states under Tinubu rose by 62 percent – Sanwo-Olu
Lagos state Governor Babajide Sanwo-Olu has declared that in the last two years of the Bola Ahmed Tinubu administration, no state governor or local government chairman can complain of lack of funds.
He said allocations to subnational governments have significantly increased.
Sanwo-Olu stated this Tuesday at a one-day public lecture organised by the Arewa Think Tank (ATT) to mark Nigeria’s 65th Independence anniversary at the Arewa House, Kaduna.
The lecture, themed “65 Years of Nigeria’s Independence: The Journey So Far with the Renewed Hope Agenda in View,” brought together political leaders, academics, youth and other stakeholders, to reflect on Nigeria’s progress under the Renewed Hope Agenda.
The governor said federal allocations to states and local governments had risen by over 60 percent in the last two years.
This, the governor attributed to deliberate fiscal reforms by President Tinubu, aimed at strengthening federalism and improving development at the grassroots.
“Ask any governor or local government chairman and they will tell you how much revenues have surged under President Bola Ahmed Tinubu. There is now more money to do more that benefit the people,” he said.
Sanwo-Olu explained that between 2023 and 2024, allocations to states rose by 62 percent, while local governments received 47 percent more.
He added that the reduction of the federal government’s share of Value Added Tax (VAT) from 15 to 10 percent showed Tinubu’s commitment to fiscal decentralisation.
“With the new tax law, states now get 55 percent of VAT, while local governments receive 35 percent. This is another bold step to ensure governance is closer to the people,” he said.
He commended President Tinubu for securing a Supreme Court judgment guaranteeing financial autonomy for local governments, and urged continued reforms to strengthen grassroots governance.
The governor also backed the plan to establish state police, describing it as “long overdue and fundamental” to addressing insecurity.
Quoting President Tinubu’s statement during a meeting with Katsina leaders, he 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.”
