Ogun's N1.05trn Budget Targets Growth, Prosperity – Finance Commissioner

From left: Mrs Olufunmilayo Dada, PS, Ministry of Budget &Planning, Mr. Olaolu Olabimtan, Commissioner for Budget and Planning, Mr, Dapo Okubadejo, Commissioner for Finance &Chief Economic Adviser to the Governor, Hon.. Kayode Akinmade, Special Adviser to the Governor on Media and Strategy, during the highlights and breakdown of the 2025 approved budget tagged: Budget of Hope and Prosperity, held at Olusegun Osoba Press Centre, Oke-Mosan, Abeokuta.

The Ogun State Government has unveiled its N1.05 trillion budget for 2025, with a focus on delivering transformative projects aimed at setting the state on a trajectory of growth, development, and prosperity.

The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, disclosed this during the presentation of the highlights and breakdown of the budget tagged the "Budget of Hope and Prosperity," held at Oke-Mosan, Abeokuta.

Okubadejo explained that the budget increase was designed to enhance the implementation of key projects, including qualitative education, healthcare delivery, housing, critical road infrastructure, and youth empowerment. 

According to him, the state's budget has risen significantly from N335 billion in 2020 to N1.1 trillion in 2024, owing to reforms that blocked leakages and enhanced efficiency.

"We have significantly increased our Internally Generated Revenue (IGR) through reforms in land administration, payments, and investments. With digitalization, businesses can now operate seamlessly online, ensuring efficiency and sustainability," Okubadejo said.

He added that the state projects N194 billion revenue from Ministries, Departments, and Agencies, N121 billion from the internal revenue service, and N228 billion from federal allocation, compared to N199 billion in 2024.

In his remarks, the Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, revealed that the N1.05 trillion budget comprises N600 billion for capital expenditure and N400 billion for recurrent expenditure. "This represents a 50 percent increase over the N703 billion 2024 budget," he said.

Breaking down the recurrent expenditure, Olabimtan stated: "Personnel costs will be N125 billion (12 percent), overhead costs N216 billion (20 percent), and consolidated charges four percent, giving a total recurrent expenditure of N455 billion or 43 percent."

In the education sector, Commissioner for Education, Science, and Technology, Prof. Abayomi Arigbabu, disclosed that N178 billion (17 percent of the budget) was allocated to education. "This will be used to build 12 mega smart schools with 900 classrooms, provide security fencing for schools, basic amenities like boreholes, and renovate dilapidated classrooms," he said.

For agriculture, the Commissioner for Agriculture and Food Security, Hon. Bolu Owotomo, outlined plans to revive farm settlements, increase productivity through value chains, engage more youths and women in agriculture, and promote dry-season farming through the distribution of 1,000 water pumps to farmers.

Housing projects will also receive significant attention, with Commissioner for Housing, Jagunmolu Akande Omoniyi, noting that N7.5 billion was allocated for legacy housing projects, while N4.5 billion and N4.9 billion were budgeted for the ministry and Housing Corporation, respectively. 

He further assured that houses built at the Kobape Housing Estate have been allocated, and refunds would be made to 32 individuals yet to receive allocation.

Commissioner for Health, Dr. Tomi Coker, highlighted achievements in the health sector, including the renovation of 80 Primary Health Care Centres in 2024 and plans to procure MRI machines to improve diagnostic services across state health institutions.

In transportation, Commissioner Engr. Gbenga Dairo revealed the state’s intent to extend Lagos' Red, Blue, and Purple rail lines into Ogun, which would enhance commuter movement and facilitate the transportation of goods. "We are also focusing on water transport to boost connectivity and cargo transportation," he said.

Dairo added that the Gateway International Airport, designed for both cargo and passenger services, has received full certification for operation. "This development positions Ogun State as a strategic hub for air transportation in the region," he affirmed.