Ogun aims for N500bn IGR in 2026 budget

The Ogun State Government has set a bold goal of generating ₦500 billion in Internally Generated Revenue (IGR) to support its 2026 budget.

During a Treasury Board meeting focused on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the 2026 Budget, Governor Dapo Abiodun emphasized this goal at the Obas Complex in Abeokuta on Tuesday.

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He highlighted Ogun State’s position as Nigeria’s industrial center, noting its strategic location near Lagos State, the nation’s largest economy, and the state’s extensive landmass of over 16,000 square kilometers, which would help meet this target.

“This state should generate no less than ₦500 billion each year, and that is our aim,” Abiodun stated.

He projected that by 2027, Ogun State’s revenue should reach approximately ₦750 billion, calling this aspiration a true reflection of ambition.

The governor tasked the Ogun State Internal Revenue Service (OGIRS) with generating ₦250 billion of this total, while also directing other key revenue-generating agencies—including the Ogun State Property and Investment Corporation (OPIC), the Bureau of Lands, and the Ministries of Education, Science and Technology, and Housing—to enhance their efforts.

Abiodun stressed that every Ministry, Department, and Agency (MDA) plays an essential role in achieving this goal, comparing them to pieces of a jigsaw puzzle that must fit together to reveal a complete picture.

He pointed out that the state’s advantages have not been fully utilized by past administrations and emphasized that Ogun can provide what Lagos cannot. He urged all MDAs to create ambitious budgets, aiming high and accepting that even if they fall short, they will achieve significant results.

The governor encouraged agencies to be innovative and creative in generating revenue, praising those that have already made commendable progress.

Addressing the poor condition of Kara, near Isheri, he reaffirmed his administration’s dedication to urban renewal, stating that the area would be cleared and redeveloped.

“The new Ogun State cannot allow that area to remain an eyesore as the first impression visitors encounter,” he asserted, emphasizing the urgent need for action rather than leaving it as a burden for the next administration.

He announced the formation of an inter-ministerial team, including representatives from the Ministries of Environment, Physical Planning and Urban Development, and the Bureau of Lands, to oversee necessary enumeration, compensation, and relocation for the area’s transformation.