On Wednesday, the Ogun State Governor, Dapo Abiodun unveiled a proposed budget of N1,054,542,020,147.47 for the 2025 fiscal year as he presented the bill to the state House of Assembly.
Dubbed the “Budget of Hope and Prosperity,” the comprehensive financial plan prioritizes capital projects, infrastructure development, and improved social services.
The budget comprises N453.56 billion for recurrent expenditure and N600.98 billion for capital expenditure.
A significant portion of the budget will be allocated to priority sectors, including Infrastructure (N284.46 billion, 27%), Health (N134.54 billion, 13%), and Education (N117.83 billion, 17%).
Other notable allocations include Agriculture and Industry (N65.39 billion, 6%), Housing and Community Development (N66.38 billion, 6%), and Social Protection (N39.84 billion, 4%).
READ ALSO:
The budget outlines ambitious projects, such as the renovation and equipping of hospitals and 80 primary health centres, the construction and rehabilitation of roads, and the extension of Metro Rail lines, including the Redline (Agbado-Kajola), Blueline (Okokomaiko-Agbara/Lusada), and Purpleline.
Additionally, the state plans to develop the Ogun Lodge in Abuja, OGIRS Revenue House, a modern Court of Appeal, and fire stations, while rehabilitating 150 km of feeder roads.
Revenue generation for the budget will come from diverse sources according to the governor.
The government projects N314.82 billion from Internally Generated Revenue (IGR), including N120.97 billion from the State IRS and N193.85 billion from MDAs.
Federal allocations and VAT are expected to contribute N228.06 billion, while N472.66 billion will come from capital receipts, loans, and grants.
Governor Abiodun emphasized the government’s commitment to completing ongoing projects under the ISEYA pillars (Infrastructure, Social welfare and well-being, Education, Youth empowerment, and Agriculture).
He also noted that the state achieved 79% of its 2024 revenue target, reinforcing Ogun’s track record of fiscal discipline and transparency.
The proposed budget aligns with the Medium-Term National Development Plan (2021-2025) and underscores the administration’s goal of fostering sustainable growth, economic prosperity, and improved quality of life for Ogun State residents.
