|
Image: Ogun State Governor Adedapo Oluseun Abiodun CON |
Ogun State is setting a new course for economic growth and infrastructural development with its ambitious
N1.05 trillion 2025 budget. Titled the “
Budget of Hope and Prosperity,” this financial plan is a bold step toward executing projects that will transform the state into a hub of progress and sustainability.
|
Image: from the left, Governor Adedapo Abiodun with Commissioner for Finance, Mr. Dapo Okubadejo |
The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, emphasized that the budget aims to advance qualitative and affordable
education, healthcare delivery, housing, road infrastructure, youth empowerment, and other essential services. With a significant increase from
N703 billion in 2024, this budget represents a 50% rise, reflecting the state's commitment to sustainable development.
One of the major highlights is the growth in
Internally Generated Revenue (IGR). Ogun State has enhanced revenue collection by implementing digital reforms in
land administration, online business registration, industry, trade, and investment sectors. These efforts have led to a substantial boost in financial efficiency and resource allocation.
Sectoral Breakdown: Where the Money is Going
1. Education: N178 Billion for Smarter Schools
A whopping
N178 billion (17% of the budget) has been allocated to the education sector. This investment will fund the construction of
12 mega smart schools, each with 900 classrooms. Additional projects include
school fencing for security, borehole installations, and classroom renovations, ensuring a better learning environment for students and teachers.
2. Agriculture: Revitalizing Farm Settlements & Dry Season Farming
The government is set to revive
farm settlements and boost agricultural productivity through
value chain development. The state will also distribute
1,000 water pumps to farmers to support dry season farming, bringing more
youth and women into agriculture.
Your generous contribution can make a real difference—click here to visit our Give page and support our mission today!
3. Healthcare: Enhanced Medical Infrastructure
With the renovation of
80 Primary Health Care Centers, Ogun State is committed to providing quality healthcare. The government is also procuring
MRI machines to improve medical diagnostics across health institutions.
4. Transportation: A Modernized Network of Roads, Rails & Waterways
The transportation sector is undergoing a massive overhaul. Ogun State will extend
Lagos’ Red, Blue, and Purple Rail Lines, making commuting more efficient and boosting goods transportation. Additionally, water transport is being improved to enhance connectivity across the state. Notably, the
Gateway International Airport has now received full certification for operational takeoff, making Ogun a strategic air transport hub.
5. Housing: Affordable Homes for Residents
A budget of
N7.5 billion has been allocated for housing projects, alongside
N4.5 billion for the Ministry of Housing and
N4.9 billion for the Housing Corporation. The government is also finalizing allocations for residents of
Kobape Housing Estate, ensuring fairness in homeownership distribution.
|
Image: Commissioner for Budget and Planning, Mr. Olaolu Olabimtan |
According to
Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, a key achievement of this budget is its emphasis on
capital expenditure over recurrent spending. Personnel costs stand at
N125 billion (12%), while overhead costs amount to
N216 billion (20%), ensuring that a larger chunk is directed towards
developmental projects.
Furthermore, the state has significantly reduced its reliance on
federal allocations, reinforcing its financial sustainability and economic resilience.
You May Also Like:
- Exciting Developments in Nigeria’s Aviation Industry: Xejet’s $10 Million Flight Support and Engineering Hub Inaugurated at NAIA
- MicroStrategy’s $1.1 Billion Bitcoin Buy: What It Means for Crypto & the Future of Digital Wealth
- Damson Idris Shakes the Internet with Jewelry Brand Announcement, Didris
- Kano State Hisbah Board Recovers N212.3 Billion: A Model for Conflict Resolution
Ogun State is proving to be a leader in economic growth and governance. With a focus on
sustainable revenue generation, strategic investments, and digital transformation, this budget serves as a
model for other Nigerian states aiming to achieve financial independence and infrastructural development.
Stay Updated with
Nollywood Spotlight!
For more breaking news and updates on Nigeria’s economic and political landscape,
subscribe to Nollywood Spotlight and follow us on social media. Don’t forget to share this post to keep more Nigerians informed!