Ogun State proposes ₦1.668 Trillion budget for 2026

The Ogun State Government has unveiled a proposed budget of ₦1,668,997,993,125.44 for the 2026 fiscal year, representing a 63% increase from the previous year’s budget of ₦1.054 trillion.

During the presentation of the Appropriation Bill, named “Budget of Sustainable Legacy,” to the State House of Assembly in Oke-Mosan, Abeokuta, Governor Dapo Abiodun reported that the budget includes ₦624.76 billion (37%) allocated for recurrent expenses and ₦1.044 trillion (63%) for capital investments.

PAY ATTENTION: Follow The Lagos Voice on WhatsApp channel for latest updates

The Governor detailed several budget components, which include: Personnel Costs amounting to ₦167.92 billion, Consolidated Revenue Charges at ₦65.80 billion, Public Debt Charges estimated at ₦99.98 billion, Overhead Costs totaling ₦291.06 billion, and Capital Expenditure of ₦1.044 trillion.

In terms of funding, Governor Abiodun indicated that the state anticipates generating ₦509.88 billion from Internally Generated Revenue (IGR) — with ₦250 billion coming from the Ogun State Internal Revenue Service and ₦259.80 billion from various MDAs. The statutory allocation from the Federal Government is expected to be ₦554.81 billion, alongside anticipated capital receipts of ₦518.90 billion, which will include both internal and external loans and grants.

As for sector allocations, the Governor revealed that Education will receive ₦275.40 billion (17%); Health, ₦210.59 billion (13%); Housing and Community Development, ₦199.96 billion (10%); Agriculture and Industry, ₦40.54 billion (2%); and Infrastructure will command the largest share at ₦526.15 billion (32%).

Additional allocations include Social Protection at ₦72.82 billion (4%); Recreation, Culture and Religion, ₦42.24 billion (3%); General Public Service — Executive Organ, ₦55.65 billion (3%); General Public Service — Financial and Fiscal Affairs, ₦52.30 billion (3%); and Personnel Services, ₦3.86 billion (0.2%).

Public Order and Safety will receive ₦36 billion (2%); Economic Affairs, ₦7.45 billion (0.4%); the Judiciary, ₦15.70 billion (1%); the Legislature, ₦33.67 billion (2%), while Statewide Expenditure is set at ₦129.68 billion (8%).

According to Governor Abiodun, the focus of the 2026 budget will be on completing essential projects aligned with the ISEYA development framework, emphasizing initiatives that stimulate revenue generation, create jobs, and fulfill the priorities outlined in the State Economic Development Plan and the Medium-Term National Development Plan, as well as the President’s Renewed Hope Agenda.

In reviewing the 2025 Budget of Hope and Prosperity, the Governor noted that by September 30, 2025, the state had achieved 60% of its planned expenditures and 53% of expected revenue.

The 2025 budget aimed to foster inclusive growth, reduce inequality, and improve citizen welfare by widening opportunities and implementing targeted social programs.

Governor Abiodun remarked that the 2026 budget is particularly significant due to the state’s enhanced economic performance, increased investor confidence, and growth in critical sectors. He highlighted that Ogun’s economy has reached an estimated GDP of ₦17 trillion, with IGR rising sharply from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with expectations of ₦250 billion for 2025.

He emphasized substantial infrastructure investments, noting that the Gateway International Airport has started commercial operations between Ogun and Abuja, serving as a magnet for international investment and a driver for export-oriented agriculture and job creation. Additional projects such as the Kajola and Ijebu-Ode Inland Dry Ports are expected to reduce transport costs and enhance logistics and agro-processing opportunities.

The Governor pointed out that his administration has built and rehabilitated over 1,500 kilometers of roads in just six years, surpassing the achievements of many previous administrations and enhancing connectivity throughout the state.

He urged for the swift passage of the budget bill and mentioned upcoming significant events, including the Gateway Afrobeat Drum Festival and the state’s 50th Anniversary celebration set for 2026.

Governor Abiodun expressed gratitude to lawmakers and stakeholders for contributing to the state’s peace and stability.

Earlier, the Speaker of the House, Rt. Hon. Oludaisi Elemide, noted that the Assembly had reviewed 19 bills, with 11 passed into law, covering areas like energy, education, and local governance. The House has also passed 56 resolutions impacting key sectors such as security and community development.

He emphasized that the budgets have been prudently managed, with rigorous monitoring procedures in place. The Speaker called for the establishment of a special court to enforce the Anti-Land Grabbing Law and appreciated the Governor for timely payment of constituency allowances and renovations of the Assembly Complex, while requesting enhanced electronic office resources and additional legislative staff to boost efficiency.