Ogun State GDP Hits N17trn As Abiodun Presents N1.67trn Budget

The Ogun State Government has proposed a total expenditure of N1.668 trillion for the 2026 fiscal year, representing a 63 percent increase from the 2025 budget of N1.054 trillion.

Presenting the Appropriation Bill titled Budget of Sustainable Legacy before members of the State House of Assembly at Oke Mosan in Abeokuta, Governor Dapo Abiodun stated that the proposed budget consists of N624.76 billion for recurrent expenditure and N1.044 trillion for capital expenditure.

According to the Governor, the major components of the budget include Personnel Costs amounting to N167.92 billion, Consolidated Revenue Charges of N65.80 billion, Public Debt Charges of N99.98 billion, Overhead Costs of N291.06 billion, and Capital Expenditure amounting to N1.044 trillion.

On funding sources, the Governor revealed that the State expects N509.88 billion from internally generated revenue. Out of this figure, N250 billion is expected from the Ogun State Internal Revenue Service, while N259.80 billion will come from ministries, departments and agencies. The State also expects N554.81 billion from statutory allocation from the Federal Government and N518.90 billion from capital receipts which include internal loans, external loans and grants.

During the sectoral breakdown, the Governor noted that Education will receive N275.40 billion which represents 17 percent of the budget, Health will receive N210.59 billion representing 13 percent, Housing and Community Development will receive N199.96 billion representing 10 percent, while Agriculture and Industry will receive N40.54 billion representing 2 percent. Infrastructure will take the largest allocation with N526.15 billion which represents 32 percent.

Other allocations include Social Protection with N72.82 billion which represents 4 percent, Recreation, Culture and Religion with N42.24 billion which represents 3 percent, General Public Service under the Executive Organ with N55.65 billion which represents 3 percent, General Public Service under Financial and Fiscal Affairs with N52.30 billion which represents 3 percent, and Personnel Service with N3.86 billion which represents 0.2 percent. Public Order and Safety will receive N36 billion representing 2 percent, Economic Affairs will receive N7.45 billion representing 0.4 percent, the Judiciary will receive N15.70 billion representing 1 percent, the Legislature will receive N33.67 billion representing 2 percent, while Statewide Expenditure will account for N129.68 billion representing 8 percent.

Governor Abiodun explained that the 2026 budget is designed to complete key projects under the ISEYA development pillars. He added that the State will prioritize projects that have strong revenue potential, those that can generate employment, and those that align with the State Economic Development Plan and the Medium Term National Development Plan as well as the Renewed Hope Agenda of the President.

Reviewing the performance of the 2025 Budget of Hope and Prosperity, the Governor said that as of 30 September 2025, the State had achieved 60 percent of its pro rata expenditure target and 53 percent of its pro rata revenue performance. He emphasized that the budget was crafted to promote inclusive growth, reduce inequality and improve the living conditions of residents.

Governor Abiodun highlighted the State’s economic progress, noting that Ogun’s Gross Domestic Product has risen to an estimated N17 trillion. He added that internally generated revenue increased from N52 billion in 2020 to almost N192 billion in 2024, with a projection of N250 billion for 2025. He further stated that the State has witnessed significant infrastructural development including the fully certified Gateway International Airport which has commenced commercial flight operations, the ongoing construction of the Kajola and Ijebu Ode Inland Dry Ports, and the construction and rehabilitation of more than one thousand five hundred kilometres of roads in six years.

Calling for the speedy passage of the bill, the Governor announced that the State is preparing for major events including the Gateway Afrobeat Drum Festival and the celebration of the fiftieth anniversary of Ogun State in 2026. He also expressed appreciation to lawmakers and stakeholders for supporting peace and development in the State.

Earlier, the Speaker of the House, Right Honourable Oludaisi Elemide, revealed that the Assembly had considered nineteen bills out of which eleven had been passed into law. The bills cover important areas such as energy, education, local government administration and environmental reforms. He added that the House passed fifty six resolutions across sectors such as security, finance, land administration, infrastructure and community development.

The Speaker commended the Governor for the timely payment of constituency allowances and the renovation of the Assembly Complex. He called for the creation of a special court to enforce the Anti Land Grabbing Law and appealed for more electronic office equipment and additional legislative staff to improve productivity.