The Ogun State Governor, Dapo Abiodun, has presented a ₦1.7 trillion appropriation bill for the 2026 fiscal year, marking a 63 percent increase from the 2025 budget of ₦1.054 trillion.
Presenting the “Budget of Sustainable Legacy” before members of the State House of Assembly at Oke-Mosan, Abeokuta, Governor Abiodun explained that the proposed budget allocates ₦624.76 billion (37 percent) to recurrent expenditure and ₦1.044 trillion to capital expenditure.
Key components of the budget include Personnel Costs of ₦167.92 billion, Consolidated Revenue Charges of ₦65.80 billion, Public Debt Charges of ₦99.98 billion, Overhead Costs of ₦291.06 billion, and Capital Expenditure of ₦1.044 trillion.
On funding sources, the governor disclosed that ₦509.88 billion is expected from Internally Generated Revenue (IGR), including ₦250 billion from the Ogun State Internal Revenue Service and ₦259.80 billion from Ministries, Departments, and Agencies (MDAs). Statutory allocations from the Federal Government are projected at ₦554.81 billion, while capital receipts of ₦518.90 billion—comprising internal and external loans and grants—are also anticipated.
Breaking down sectoral allocations, Education will receive ₦275.40 billion (17 percent), Health ₦210.59 billion (13 percent), Housing and Community Development ₦199.96 billion (10 percent), and Agriculture and Industry ₦40.54 billion (2 percent). Infrastructure will take the largest share, ₦526.15 billion (32 percent).
Other allocations include Social Protection, ₦72.82 billion (4 percent); Recreation, Culture, and Religion, ₦42.24 billion (3 percent); General Public Service—Executive Organ, ₦55.65 billion (3 percent); General Public Service—Financial and Fiscal Affairs, ₦52.30 billion (3 percent); and Personnel Service, ₦3.86 billion (0.2 percent).
Public Order and Safety is allocated ₦36 billion (2 percent), Economic Affairs ₦7.45 billion (0.4 percent), Judiciary ₦15.70 billion (1 percent), Legislature ₦33.67 billion (2 percent), while Statewide Expenditure accounts for ₦129.68 billion (8 percent).
Governor Abiodun said the 2026 budget will focus on completing key projects under the ISEYA development pillars. He emphasized that priority will be given to projects with strong revenue-generating potential, those that enhance employment, and initiatives aligned with the State Economic Development Plan, the Medium-Term National Development Plan, and the President’s Renewed Hope Agenda.
Reviewing the implementation of the 2025 “Budget of Hope and Prosperity,” the governor noted that by September 30, 2025, the state had achieved 60 percent of its pro-rata expenditure target and 53 percent of its pro-rata revenue performance. He said the 2025 budget was designed to stimulate inclusive growth, reduce inequality, and enhance overall quality of life.
“It was also meant to expand opportunities for all, empower citizens across sectors, and deploy targeted social interventions to address urgent needs,” he added.
Describing the 2026 budget as significant, Governor Abiodun highlighted the state’s improved economic performance, renewed investor confidence, and growth across key sectors. He noted that Ogun’s economy has grown to an estimated Gross Domestic Product (GDP) of ₦17 trillion, while IGR has surged from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with a projection of ₦250 billion in 2025.
