Ogun State governor, Dapo Abiodun on Wednesday presented a proposed 2025 budget of N1.054 trillion to the 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.
