Tinubu boasts about legacy in Lagos, says state is now Africa’s fifth largest economy

• Tinubu says Lagos is now Africa’s fifth largest economy.

• The president praised the tax reforms introduced during his time as governor.

• He said Nigerians can now pay taxes easily through their phones.

• Tinubu also called for more African investment in research and development.

President Bola Ahmed Tinubu has claimed that Lagos has grown into the fifth largest economy in Africa, as he reflected on the legacy of his administration in the state and defended his tax reform policies.

Tinubu made the remarks during an interview while discussing taxation, economic reforms, and Africa’s low tax-to-GDP ratio compared to other regions of the world.

Responding to a question about his time as governor of Lagos State and the role local taxation played in transforming the state’s economy, the president praised the reforms introduced under his administration.

“Today, Lagos State is the fifth largest economy in Africa,” Tinubu said.

“I’m very proud of the legacy I left behind there, and I’m still monitoring that.”

The interviewer had noted that Africa’s tax-to-GDP ratio remains among the lowest globally at about 16 percent, despite efforts by some governments to strengthen internal revenue generation.

Tinubu, who previously served as chairman of the Economic Community of West African States, argued that tax reforms across Africa must become simpler and easier for citizens to understand.

“Tax reform will have to be written in English language, understandable, and not Japanese in English,” he said.

“A standard that everyone will be able to pay, not for the avoidance, but genuineness of citizenship, right commitment to pay taxes, write it simple but not stupid.”

The Nigerian president also pointed to ongoing reforms in Nigeria’s tax system, saying technology has made tax payment easier and more accessible for citizens.

“I've reformed that in Nigeria. You can pay your taxes from your telephone,” Tinubu stated.

“You can access yourself and you can evaluate yourself so easily from your telephone.”

Tinubu further stressed the need for African governments to invest more heavily in research and development, particularly to empower young people across the continent.

“What Africa need is to also put funding in place for research and development,” he said.

“This research and development will get our youths going. They are highly intellectually inclusive. They will do it. Believe in them.”

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Tinubu governed Lagos State between 1999 and 2007 and has frequently highlighted reforms carried out during his administration, particularly in taxation, infrastructure, and internally generated revenue.

Over the years, supporters of the president have often credited his administration with laying the foundation for Lagos’ economic growth and revenue expansion, which later administrations in the state continued to build upon.