Governor Dapo Abiodun presented a proposed 2025 budget of N1.054 trillion to the Ogun State House of Assembly, tagged the “Budget of Hope and Prosperity.” The budget is divided into:
• N453.56 billion for recurrent expenditure
• N600.98 billion for capital expenditure
Key allocations include:
• N120.1 billion for personnel costs
• N37.49 billion for consolidated revenue costs
• N76.07 billion for public debt charges
• N219.86 billion for overhead costs
Major capital projects for 2025 include:
• Renovating hospitals and revitalizing 80 primary health centers
• Extending the Redline, Blueline, and Purpleline metro rail lines
• Constructing key infrastructure like roads, fire stations, and the Ogun Lodge Government House in Abuja
The funding sources are projected as follows:
• N120.97 billion from the State Internal Revenue Service
• N193.85 billion from Ministries, Departments, and Agencies (MDAs)
• N228.06 billion from federal statutory allocations (including VAT)
• N472.66 billion from capital receipts (loans, grants, etc.)
Sectoral allocations include:
• Education: N117.83 billion (17%)
• Health: N134.54 billion (13%)
• Infrastructure: N284.46 billion (27%)
• Social Protection: N39.84 billion (4%)
Governor Abiodun emphasized completing ongoing projects, generating revenue, and creating jobs, aligning with Ogun State’s development strategies and national plans. The 2024 budget performance showed strong fiscal reliability, with 79% of revenue and 56% of expenditure targets achieved by September 2024.
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