Ogun State Governor, Dapo Abiodun, on Wednesday, presented a proposed appropriation bill of N1.055 trillion for the 2025 fiscal year to the State House of Assembly for approval.
Tagged the ‘Budget of Hope and Prosperity,’ the proposed budget comprises N600.98 billion for capital expenditure and N453.56 billion for recurrent expenditure.
Governor Abiodun disclosed that the budget earmarked N120.14 billion for personnel costs, N75.07 billion for public debt charges, and N219.86 billion for overhead costs.
“The total State funding is estimated at N1,054,542,020,147.47 for the year 2025,” he said.
Providing a breakdown of the revenue composition, the governor stated that the state expects N120.97 billion from the Ogun State Internal Revenue Service (OGIRS) and N193.85 billion from other Ministries, Departments, and Agencies (MDAs), amounting to N314.82 billion. Statutory allocations from the Federal Government, including FAAC and VAT, are projected at N228.06 billion.
Highlighting key allocations, Abiodun noted that infrastructure would account for 27% of the budget at N284.456 billion, education would take N167.835 billion (17%), and health would receive N134.538 billion (13%).
Housing and community development were allocated N66.382 billion (6%), while agriculture and industry would receive N65.387 billion (6%), and recreation, culture, and religion were allocated N25.274 billion (2%).
The governor also listed key physical projects for 2025, including:
- Renovation of general and state hospitals.
- Procurement of laboratory and medical equipment.
- Construction of the Redline Metro Rail Extension (Agbado-Kajola).
- Development of the Blueline Metro Rail (Okokomaiko-Agbara/Lusada).
- Construction of the Purpleline Metro Rail (Mowe-Iperu).
Governor Abiodun emphasized that the budget aims to balance fiscal responsibility with improved public service delivery, tackling immediate challenges such as unemployment and poverty while fostering economic and social progress.
“This budget is a roadmap for economic growth, inspiring hope, fostering unity, and strengthening public trust in the government’s ability to manage resources responsibly,” he stated.
In his response, the Speaker of the Ogun State House of Assembly, Oludaisi Elemide, assured the governor of the legislature’s commitment to ensuring the budget’s smooth passage.
He reiterated the Assembly’s readiness to cooperate with the executive and judiciary for the benefit of the state.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate