Governor Dapo Abiodun unveils Ogun State’s N1.054 trillion “Budget of Hope and Prosperity,” prioritizing critical sectors to drive growth and improve living standards in 2025.
On December 4, 2024, Ogun State Governor Dapo Abiodun presented the state’s largest-ever budget proposal of N1.054 trillion to the Ogun State House of Assembly. Dubbed the “Budget of Hope and Prosperity.”
Breakdown of the Budget
The 2025 budget proposal is strategically allocated to drive growth:
- Recurrent Expenditure: N453.56 billion
- Capital Expenditure: N600.98 billion
This represents a significant increase from the N703.028 billion allocated in 2024
Key Expenditure Details
Governor Abiodun provided a detailed breakdown of expenditure plans, including:
- Personnel Costs: N120.1 billion
- Public Debt Charges: N76.07 billion
- Overhead Costs: N219.86 billion
Sectoral Allocations to Drive Transformation
The budget targets key sectors with transformative allocations:
- Infrastructure: N284.46 billion (27%)
- Health: N134.54 billion (13%)
- Education: N117.83 billion (17%)
- Social Protection: N39.84 billion (4%)
Ambitious Capital Projects for 2025
Governor Abiodun emphasized major capital projects to be executed in 2025, including:
- Upgrades to 80 primary health centers and hospital renovations
- Expanding the metro rail lines (redline, blueline, and purpleline)
- Key infrastructure projects such as roads, fire stations, and the Ogun Lodge Government House in Abuja
Funding Sources for the Budget
The budget relies on diverse funding sources to ensure sustainability:
- Ogun State Internal Revenue Service (OGIRS): N120.97 billion
- Ministries, Departments, and Agencies (MDAs): N193.85 billion
- Federal Statutory Allocations: N228.06 billion
- Capital Receipts (Loans, Grants, etc.): N472.66 billion
Performance of the 2024 Budget
Highlighting achievements from 2024, Governor Abiodun noted:
- 79% of revenue targets were met
- 56% of expenditure targets were achieved by September 2024
Governor Abiodun reiterated his administration’s dedication to completing ongoing projects, fostering job creation, and strengthening revenue generation. He emphasized that investments in health and education would empower the workforce and build resilience across the state.
The Ogun State House of Assembly commended the governor’s focus on transformative sectors, with the Chairman of the House Committee on Finance and Appropriation praising the prioritization of essential services that directly benefit residents.
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