Abiodun proposes historic ₦1.67trn Budget to transform Ogun State

By Adejoke Adeleye

The Ogun State Governor, Dapo Abiodun has presented a ₦1.668 trillion spending plan for the 2026 fiscal year, its largest budget yet.

This marks a 63 percent increase from the previous year’s ₦1.054 trillion appropriation.

Governor Dapo Abiodun laid the budget, tagged “Budget of Sustainable Legacy,” before the State House of Assembly in Abeokuta, emphasising continuity, revenue expansion, and accelerated project delivery.

According to the proposal, ₦624.76 billion (37 percent) is earmarked for recurrent expenditure, while a significantly larger ₦1.044 trillion (63 percent) will fund capital projects across the state.

The Governor said the prioritisation of capital spending aligns with Ogun’s long-term development strategy and the ISEYA pillars guiding his administration.

Breaking down the numbers, Abiodun disclosed that personnel costs stand at ₦167.92 billion, consolidated revenue charges at ₦65.80 billion, public debt charges at ₦99.98 billion, overheads at ₦291.06 billion, and capital expenditure at roughly one trillion naira.

On revenue expectations, the Governor projected ₦509.88 billion in internally generated revenue (IGR), split between ₦250 billion from the Ogun State Internal Revenue Service and ₦259.80 billion from MDAs. Federal statutory allocations are expected to contribute ₦554.81 billion, while ₦518.90 billion in capital receipts, comprising loans and grants, will support major infrastructure commitments.

A sectoral allocation breakdown shows that Infrastructure will receive the largest share, ₦526.15 billion (32 percent), followed by Education with ₦275.40 billion (17 percent), and Health with ₦210.59 billion (13 percent). Housing and community development will get ₦199.96 billion, Agriculture and Industry ₦40.54 billion, while Social Protection stands at ₦72.82 billion. Allocations also extend to Public Order and Safety (₦36 billion), the Judiciary (₦15.70 billion), the Legislature (₦33.67 billion), and Statewide Expenditure (₦129.68 billion).

Governor Abiodun said the 2026 Budget would concentrate on projects with high revenue potential, job creation opportunities, alignment with the State’s Economic Development Plan, and consistency with President Bola Tinubu’s Renewed Hope Agenda.

Reviewing the 2025 Fiscal Year, the Governor noted that Ogun achieved 60 percent of its pro-rata expenditure target and 53 percent of its revenue goal as of September 30.

He said the previous budget was designed to stimulate inclusive growth, reduce inequality, and improve quality of life across communities.

Abiodun described the 2026 proposal as transformative, presented at a period of strong economic indicators, rising investor interest and expanding local capacity.

He announced that Ogun’s economy had grown to an estimated ₦17 trillion GDP, while IGR increased from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with a projection of ₦250 billion in 2025.

Highlighting the state’s aggressive infrastructure push, the Governor celebrated the full certification and commencement of commercial flights at the Gateway International Airport, which he said is now a “magnet for international investment” and a catalyst for export-driven agriculture and job creation.

He also noted the construction of the Kajola and Ijebu-Ode Inland Dry Ports, expected to reduce transport costs, boost exports and support industrial expansion.

Abiodun said his administration has constructed and rehabilitated over 1,500km of roads in six years, exceeding the achievements of several past administrations combined.

The Governor appealed for speedy passage of the budget and announced major events scheduled for 2026, including the Gateway Afrobeat Drum Festival and the State’s 50th Anniversary celebrations.

He expressed gratitude to lawmakers, traditional rulers, civil society groups, religious leaders and security agencies for sustaining peace and stability.

Earlier, Speaker Oludaisi Elemide commended the Governor for consistent support to the legislature, reporting that the House had processed 19 bills, with 11 passed into law, and had adopted 56 resolutions across key sectors.

He called for the establishment of a special court to enforce the Anti-Land Grabbing Law, noting that the Assembly had resolved more than 100 disputes involving land, chieftaincy matters, environmental issues and transport unions.

Elemide urged further improvements in legislative working tools and staffing, emphasising that the Assembly remains committed to oversight, accountability and ensuring that appropriated funds are utilised for the benefit of the people.