The Governor of Ogun State, Dapo Abiodun, on Wednesday formally presented the state’s 2026 Appropriation Bill totaling N1,668,997,993,125.44 to the Speaker of the State Assembly, Oludaisi Elemide, for legislative approval. The budget, themed the “Budget of Sustainable Legacy,” is designed to strengthen fiscal discipline, ensure sustainable development, and preserve the gains of previous administrations. Okay News reports.
During the presentation at the Assembly Complex, Governor Abiodun outlined the projected revenue structure. He stated that the Internally Generated Revenue (IGR) is expected to total N509.88 billion, comprising N250.00 billion from internal revenue and N259.88 billion from other Ministries, Departments, and Agencies (MDAs). Federal Government contributions, including statutory allocations and value-added tax, are projected at N554.81 billion, while capital receipts from internal and external loans, as well as grants, are estimated at N518.90 billion.
Abiodun emphasized that the 2026 budget aims to enhance revenue transparency, broaden the tax base, and maintain fiscal sustainability without imposing additional burdens on residents. He noted, “The 2026 Appropriation Bill—our seventh budget—reflects a deliberate commitment to preserving, deepening, and expanding the transformative foundations already laid over the years. It is a financial plan anchored on continuity, consolidation, and long-term impact—ensuring that the progress achieved evolves into lasting benefits for current and future generations.”
The Governor detailed the expenditure plan, revealing that N624.76 billion (37 percent) is earmarked for recurrent expenses, while N1.044 trillion (63 percent) is allocated for capital projects. Key allocations include Personnel Costs at N167.92 billion, Consolidated Revenue Charges at N65.80 billion, Public Debt Charges at N99.98 billion, and Overhead Costs at N291.06 billion.
Sectoral priorities of the budget were also highlighted. Infrastructure received the largest share at N526.15 billion, followed by Education with N275.40 billion and Health with N210.59 billion. Major capital projects planned include the construction of 450 kilometers of urban and rural roads, development and rehabilitation of classrooms and technical workshops, a 2,500-seater State Banquet Hall, the Olokola Deep Sea Port, dairy farms, and the world’s largest cotton factory expected to employ over 250,000 people and produce over 1,000 tons of finished cotton products daily through public-private partnerships.
Governor Abiodun further disclosed plans to host the Gateway Afrobeat Drum Festival, which will promote cultural tourism, create jobs, and attract investment. The state’s golden jubilee celebration next year will also serve as a unifying event for citizens both locally and in the diaspora.
Reflecting on the outgoing 2025 budget, the Governor reported that as of September 30, 2025, the state had achieved 58 percent of its pro-rated revenue target and 52 percent of its pro-rated expenditure target, demonstrating fiscal discipline. He expressed confidence that the year-end performance would reach 70 to 75 percent, providing a strong foundation for the 2026 fiscal plan.
The Speaker, Oludaisi Elemide, commended the Governor for complying with constitutional provisions in presenting the budget. He highlighted the Assembly’s achievements, including hosting national legislative competitions, the Fifth Children’s Parliament plenary, and the Southwest Youth Parliament. Elemide also called for the establishment of a Special Court to handle land disputes, which constitute over 90 percent of petitions before the House.
