'Seun Ibukun-Oni, Abuja
DAILY COURIER — Ogun State Governor, Prince Dapo Abiodun, on Wednesday unveiled a N1.05 trillion budget proposal for the 2025 fiscal year, tagged the “Budget of Hope and Prosperity.” The proposed budget, presented to the Ogun State House of Assembly, prioritizes infrastructure development, healthcare, and education, alongside significant investments in agriculture and social protection.
Budget Breakdown
The N1.05 trillion proposal comprises N453.56 billion for recurrent expenditure and N600.98 billion for capital projects. Key components of the recurrent expenditure include:
Personnel Costs: N120.1 billion
Consolidated Revenue Charges: N37.49 billion
Public Debt Charges: N76.07 billion
Overhead Costs: N219.86 billion
Major Projects
The governor outlined critical projects aimed at driving development and improving the quality of life for residents, including:
Renovation and equipping of hospitals and 80 primary health centers. Construction and rehabilitation of roads across the state. Expansion of Metro Rail lines, including the Redline (Agbado-Kajola), Blueline (Okokomaiko-Agbara/Lusada), and Purpleline.
Others include: Construction of Ogun Lodge in Abuja, OGIRS Revenue House, and a modern Court of Appeal. Rehabilitation of 150 km of feeder roads and construction of fire stations to boost safety and accessibility.
Revenue Projections
The budget anticipates revenues from various sources, including: Internally Generated Revenue (IGR): N314.82 billion, comprising N120.97 billion from the State Internal Revenue Service and N193.85 billion from ministries, departments, and agencies (MDAs).
Federal Allocations and VAT: N228.06 billion. Capital Receipts, Loans, and Grants: N472.66 billion.
Sectoral Allocations
The proposed budget allocates resources to critical sectors as follows: Infrastructure: N284.46 billion (27%). Education: N117.83 billion (17%). Health: N134.54 billion (13%). Agriculture & Industry: N65.39 billion (6%). Housing & Community Development: N66.38 billion (6%). Social Protection: N39.84 billion (4%).
Focus on Transparency and Growth
Governor Abiodun emphasized his administration's commitment to transparency and fiscal responsibility, noting that Ogun State achieved 79% of its revenue target in 2024. The 2025 budget, he said, aligns with the Medium-Term National Development Plan (2021-2025) and builds on the government’s ISEYA (Infrastructure, Social Welfare, Education, Youth Empowerment, and Agriculture) development pillars.
“Our focus remains on completing ongoing projects, fostering sustainable development, and ensuring prosperity for all Ogun State residents,” Governor Abiodun stated.
The proposed budget now awaits legislative approval.
