The administration of Ogun State Governor Dapo Abiodun is reportedly making strides in developing the economic potentials and capacity of the state, resulting in an increase in the state’s economy to over N6 trillion. The Commissioner for Finance and Chief Economic Adviser to Governor Abiodun, Hon Dapo Okubadejo, made this revelation during a media parley held on Monday for the presentation of the 2024 budget at the Olusegun Osoba Press Centre inside the Governor’s Office, Oke Mosan, Abeokuta.
Okubadejo further disclosed that the state has set a target of N240 billion in Internally Generated Revenue (IGR) out of the N703 billion budget for the current year.
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He stated, “The economy of Ogun State when we started in 2019 was much lower but it is now over N6 trillion. To give a sense to this, the budget of the whole country is N28 trillion, and the totality for the states is N17 trillion out of which Ogun has N703 billion, making us the fifth-largest in the country.”
Okubadejo emphasized that the state has been less dependent on federal allocation compared to other states in the country. He stressed the importance of economic and financial independence for the state and highlighted the vast land mass and numerous resources available for harnessing in Ogun State.
The Commissioner noted that the 2024 budget, exceeding N703 billion, is expected to have a significant and positive impact on the residents of the state.
