Ogun Proposes ₦1.67 Trillion Budget For 2026

Governor Dapo Abiodun on Tuesday presented a historic ₦1.668 trillion Appropriation Bill for the 2026 fiscal year to the Ogun State House of Assembly, signalling a major push to complete legacy infrastructure projects and consolidate economic gains.

Tagged the “Budget of Sustainable Legacy,” the proposed expenditure represents a significant 63 percent increase over the 2025 budget of ₦1.054 trillion. The budget prioritises capital projects, with ₦1.044 trillion (63 percent) allocated for capital expenditure, while recurrent expenditure is set at ₦624.76 billion (37 percent).

In his presentation at the Assembly Complex in Oke-Mosan, Governor Abiodun outlined a budget structured to drive growth through strategic capital investments. Key allocations include Infrastructure, which receives the largest share at ₦526.15 billion (32 percent), followed by Education at ₦275.40 billion (17 percent) and Health at ₦210.59 billion (13 percent).

“This budget is designed to focus on completing key projects under our ISEYA development pillars,” the Governor stated. “We will prioritise projects with strong revenue-generating potential, projects that enhance employment generation, and projects that align with the state’s development strategy and the national Renewed Hope Agenda.”

Funding for the ambitious budget is expected from multiple sources. The government projects ₦509.88 billion from Internally Generated Revenue (IGR), ₦554.81 billion from federal statutory allocations, and ₦518.90 billion from capital receipts, including loans and grants.

Governor Abiodun highlighted the state’s improved fiscal capacity, noting that Ogun’s IGR has risen from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with a projection of ₦250 billion for 2025. The state’s economy, he added, is now estimated at a Gross Domestic Product (GDP) of ₦17 trillion.

Major ongoing projects set for further investment include the Gateway International Airport, which has commenced commercial operations, and the upcoming Kajola and Ijebu-Ode Inland Dry Ports. The administration also noted the construction and rehabilitation of over 1,500km of roads in the last six years.

In a review of the outgoing year, the Governor reported that as of September 30, 2025, the state achieved 60 percent of its prorated expenditure target and 53 percent of its prorated revenue performance under the 2025 “Budget of Hope and Prosperity.”

In his remarks, Speaker of the House, Rt. Hon. Oludaisi Elemide, commended the Governor for the timely presentation and outlined the Assembly’s own record of productivity over the past year. He disclosed that the House had passed 11 bills, with eight others at various stages, and resolved 56 motions on critical sectors.

The Speaker advocated for the establishment of a special court to enforce the state’s Anti-Land Grabbing Law, noting that the House had successfully mediated over 100 community disputes in the last year.

The budget now awaits detailed scrutiny and approval by the State House of Assembly. Governor Abiodun also announced major upcoming state events, including the Gateway Afrobeat Drum Festival and the celebration of Ogun State’s 50th Anniversary in 2026.

OYO NEWS