The Ogun State Government has unveiled a proposed budget of ₦1.668 trillion for the 2026 fiscal year — a 63% increase from the 2025 budget of ₦1.054 trillion.
Presenting the Appropriation Bill, tagged “Budget of Sustainable Legacy,” to the State House of Assembly in Abeokuta, Governor Dapo Abiodun said the proposal allocates ₦624.76 billion (37%) to recurrent expenditure and ₦1.044 trillion (63%) to capital projects.
Key spending highlights include:
- Personnel Costs: ₦167.92bn
- Consolidated Revenue Charges: ₦65.80bn
- Public Debt Charges: ₦99.98bn
- Overhead Costs: ₦291.06bn
- Capital Expenditure: ₦1.044trn
Funding the Budget
The governor said the state expects ₦509.88 billion from Internally Generated Revenue — ₦250 billion from the Ogun State Internal Revenue Service and ₦259.80 billion from MDAs. Statutory federal allocations are projected at ₦554.81 billion, while capital receipts totalling ₦518.90 billion from internal and external loans and grants are also anticipated.
Sectoral Allocations
Education takes ₦275.40 billion (17%), followed by Health with ₦210.59 billion (13%).
Other major allocations include:
- Infrastructure: ₦526.15bn (32%) — the largest share
- Housing & Community Development: ₦199.96bn (10%)
- Agriculture & Industry: ₦40.54bn (2%)
- Social Protection: ₦72.82bn (4%)
- Recreation, Culture & Religion: ₦42.24bn (3%)
- Public Order & Safety: ₦36bn (2%)
- Judiciary: ₦15.70bn (1%)
- Legislature: ₦33.67bn (2%)
- Statewide Expenditure: ₦129.68bn (8%)
Focus for 2026
Governor Abiodun said the 2026 budget prioritises completing key projects under the state’s ISEYA development pillars. The focus, he noted, will be on revenue-generating projects, job creation, and initiatives aligned with the State Economic Development Plan, the Medium-Term National Development Plan, and President Tinubu’s Renewed Hope Agenda.
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Reviewing the 2025 Budget of Hope and Prosperity, the governor said that as of September 30, 2025, Ogun had achieved 60% of its pro-rata expenditure target and 53% of projected revenue.
He described the 2026 proposal as a significant milestone, coming at a time of improved economic performance and growing investor confidence. According to him, Ogun’s GDP has risen to an estimated ₦17 trillion, while IGR has grown from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with a projected ₦250 billion in 2025.
Governor Abiodun said the government would continue investing heavily in infrastructure to support the state’s economic growth.
