Ogun State Governor, Dapo Abiodun, on Wednesday, presented a total sum of N1.54trn to the state House of Assembly as the 2025 Appropriation Bill.
Speaking during the presentation held at the assembly complex, Governor’s Office, Oke-Mosan, Abeokuta, the state capital, Abiodun said the revenue composition includes an estimated N120.97 billion from the Ogun State Internal Revenue Service, and N193.85bn from other Ministries, Departments, and Agencies; totalling N314.82bn.
Credit: X | #DapoAbiodunCON
Abiodun said that the 2025 Appropriation Bill tagged, “Budget of Hope and Prosperity,” has a proposed recurrent expenditure of N453.56bn and N600.98bn for capital expenditure.
The governor added that the statutory allocations from the Federal Government are projected at N228.06bn while capital receipts comprising of internal and external loans, as well as grants and aids are estimated at N472.66bn.
Credit: X | #DapoAbiodunCON
Giving the sectoral breakdown of the proposed budget, the governor explained that the education sector would get N177.835bn representing 17%, while N134.538bn amounting to 13% was allocated to the health sector, and N66.382bn being 6% was earmarked for the housing and community development ministry, among other allocations.
“As the sixth budget of this administration, the 2025 Appropriation Bill, titled ‘Budget of Hope and Prosperity,’ reflects current challenges, essential reforms, and the need for inclusive, diversified and sustainable growth.
“It aims to stimulate economic growth, reduce inequality and improve the citizens’ well-being. The budget prioritises infrastructure, healthcare, housing, security, education, youth empowerment, job creation, and agriculture; with policies designed to drive recovery and transformation during economic turbulence.
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“This budget strives to balance fiscal responsibility with improved public service delivery, ensuring resources are used effectively to maximise prosperity for all, by tackling immediate issues like unemployment and poverty while investing in long-term growth,” the governor said.
Abiodun listed some of the prioritised projects for 2025 to include the renovation of general and state hospitals within the state, the purchase of laboratory medical equipment, the construction of Redline Metro Rail Extension along the Agbado-Kajola axis, Blueline Metro Rail Extension at Okokomaiko-Agbara/Lusada, among others.
Giving an appraisal of the 2024 budget, the governor revealed that as of September 2024, the state achieved 79% of its pro-rated revenue target and 56% of the pro-rated expenditure target, adding that the performance over the past few years underscored the state’s fiscal reliability, with an optimism of having a stronger financial base.
He urged the assembly to expedite action in passing the bill, promising to ensure that the people of the state keep getting the best of his administration.
In his remark, the Speaker of the House, Daisi Elemide lauded the governor for the various initiatives aimed at delivering good governance in the state, among others.
