The Ogun State Governor, Dapo Abiodun, has presented a 1.7 trillion budget proposal for the 2026 fiscal year, representing a 63% increase from the previous year’s budget of 1.054 trillion. The proposed budget, tagged “Budget of Sustainable Legacy,” allocates 624.76 billion for recurrent expenditure and 1.044 trillion for capital expenditure.
The key components of the budget include personnel costs, consolidated revenue charges, public debt charges, overhead costs, and capital expenditure. The governor explained that the budget will be funded through a combination of internally generated revenue, statutory allocation from the federal government, and capital receipts. The state expects to generate 509.88 billion from internally generated revenue, with 250 billion coming from the Ogun State Internal Revenue Service and 259.80 billion from Ministries, Departments, and Agencies (MDAs).
The budget allocates funds to various sectors, with education receiving 275.40 billion, health getting 210.59 billion, and infrastructure taking the largest share of 526.15 billion. Other allocations include social protection, recreation, culture and religion, general public service, and personnel service.
Governor Abiodun stated that the 2026 budget will focus on completing key projects under the ISEYA development pillars, prioritizing projects with strong revenue-generating potential, employment generation, and alignment with national development plans. He noted that the 2025 budget achieved 60% of its pro-rata expenditure target and 53% of the pro-rata revenue performance as of September 30, 2025.
The governor described the 2026 budget as significant, coming at a time of improved economic performance and growth across key sectors. Ogun’s economy has grown to an estimated Gross Domestic Product (GDP) of 17 trillion, with internally generated revenue rising sharply from 52 billion in 2020 to nearly 192 billion in 2024.
The proposed budget aims to stimulate inclusive growth, reduce inequality, and enhance the overall quality of life in Ogun State. With its focus on key projects and sectors, the 2026 budget is expected to drive economic growth and development in the state. The governor’s presentation of the budget proposal marks a significant step towards achieving the state’s development goals and improving the lives of its citizens.