SUMMARY OF OGUN STATE 2025 BUDGET PROPOSAL. (PHOTOS). #PRESS RELEASE.
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Summary of Ogun State 2025 Budget Proposal
Governor Dapo Abiodun presented a proposed 2025 budget of N1.054 trillion to the Ogun State House of Assembly, tagged the āBudget of Hope and Prosperity.ā The budget is divided into:
ā¢ N453.56 billion for recurrent expenditure
ā¢ N600.98 billion for capital expenditure
Key allocations include:
ā¢ N120.1 billion for personnel costs
ā¢ N37.49 billion for consolidated revenue costs
ā¢ N76.07 billion for public debt charges
ā¢ N219.86 billion for overhead costs
Major capital projects for 2025 include:
ā¢ Renovating hospitals and revitalizing 80 primary health centers
ā¢ Extending the Redline, Blueline, and Purpleline metro rail lines
ā¢ Constructing key infrastructure like roads, fire stations, and the Ogun Lodge Government House in Abuja
The funding sources are projected as follows:
ā¢ N120.97 billion from the State Internal Revenue Service
ā¢ N193.85 billion from Ministries, Departments, and Agencies (MDAs)
ā¢ N228.06 billion from federal statutory allocations (including VAT)
ā¢ N472.66 billion from capital receipts (loans, grants, etc.)
Sectoral allocations include:
ā¢ Education: N117.83 billion (17%)
ā¢ Health: N134.54 billion (13%)
ā¢ Infrastructure: N284.46 billion (27%)
ā¢ Social Protection: N39.84 billion (4%)
Governor Abiodun emphasized completing ongoing projects, generating revenue, and creating jobs, aligning with Ogun Stateās 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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