The Ogun State government has set a target of generating ₦500 billion in Internally Generated Revenue (IGR) to fund its 2026 fiscal year.
Governor Dapo Abiodun announced the ambitious goal during the Treasury Board meeting on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the 2026 budget held at the Obas Complex, Oke-Mosan, Abeokuta.
Abiodun said Ogun, as Nigeria’s industrial hub, would capitalize on its strategic proximity to Lagos State the country’s largest economy and its vast landmass of over 16,000 square kilometres to meet the revenue target.
“This State has no business generating less than ₦500 billion a year, and that has to be our target,” the governor declared.
“By the time we are leaving in 2027, Ogun State’s revenue should rise to about ₦750 billion. That is what ambition looks and feels like.”
The governor tasked the Ogun State Internal Revenue Service (OGIRS) with generating at least ₦250 billion of the total target. Other key revenue-generating agencies, including the Ogun State Property and Investment Corporation (OPIC), the Bureau of Lands, and the Ministries of Education, Housing, Science and Technology, were also directed to ramp up their revenue efforts.
Abiodun stressed that all Ministries, Departments, and Agencies (MDAs) must play their part, describing them as “pieces of a jigsaw that must fit together to complete the bigger picture.”
“Our comparative advantage was not fully harnessed by previous administrations. Our strength lies in providing what Lagos cannot offer,” he said. “I expect every MDA to prepare an ambitious budget—aim for the stars, and if we miss, we’ll at least land on the moon.”
He urged agencies to be more creative and innovative in their revenue generation strategies, commending those that had already recorded impressive results.
On the state’s urban renewal plans, Abiodun reaffirmed his administration’s commitment to redeveloping Kara, near Isheri, describing its current condition as unacceptable.
“The new Ogun State cannot allow that place to continue to look like that. You cannot be entering the new Ogun State and what you see first is an eyesore,” he said. “There is no better time to act than now—we can’t leave it as an albatross for the next administration.”
ICYMI
The governor disclosed that an inter-ministerial team comprising officials from the Ministries of Environment, Physical Planning and Urban Development, the Bureau of Lands, and other relevant agencies has been set up to oversee enumeration, compensation, and relocation activities for the area’s transformation.
