The Ogun State Government has outlined its year 2025 budget, prioritising economic growth and sustainable development with the new fiscal plan, placing a stronger emphasis on infrastructure, security, and human capital investments as key drivers of progress for the State.

The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, speaking during a media parley on the breakdown of the 2025 budget, tagged the “Budget of Hope and Prosperity,” at Oke-Mosan, Abeokuta, highlighted the strategic decisions that justifies the budget.

The 2025 budget which is projected at ₦1.054 trillion, is a notable increase from the ₦703 billion allocated in 2024 representing a 49.9 percent rise, driven by Ogun State's renewed focus on strengthening its Internally Generated Revenue (IGR).

The Commissioner, emphasised the administration's shift towards a revenue-driven budgeting approach, saying “we have adopted a medium-term revenue strategy to guide the state’s finances, ensuring that we remain realistic and effective in meeting our development objectives”.

He noted that the 2025 fiscal plan prioritises infrastructural development, with over ₦200 billion allocated to capital projects, including road construction and rehabilitation to improve connectivity and support economic activities, saying that the government plans to invest in healthcare, education as well as security and ensure that these sectors receive the necessary resources for sustainable growth.

Okubadejo, revealed that the state’s economic potential is bolstered by its status as a leading industrial hub, benefiting from economic clusters and creating an enabling environment, as well as ease of doing business, for investors to thrive.

As part of its commitment to promote participatory governance, the administration incorporated inputs from citizens gathered during the statewide town hall meetings into the budget, which emphasises the importance of community-driven policies in shaping the state’s future. “This budget reflects our collective aspirations as a people. It underscores our resolve to build a prosperous Ogun State for all,” Okubadejo stated.

Also speaking, the Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, explained that the ₦1.05 trillion budget is broken down into ₦600 billion for Capital Expenditure and ₦400 billion for Recurrent Expenditure, a 50 percent increase over the 2024 budget, which stood at ₦703 billion.

“For us, what is significant and why we consistently rank first in IGR sustainability is that, the percentage of our funding from the federation account continues to decrease. This is a deliberate attempt on the part of this government to ensure sustainability.

“We will spend more on Capital Expenditure than on Recurrent Expenditure. Personnel costs are expected to be ₦125 billion, which is 12 percent, overhead costs ₦216 billion, or 20 percent of the budget, and consolidated charges would account for 4 percent, giving a total Recurrent Expenditure of ₦455 billion, or 43 percent,” he added.

Earlier in his welcome address, the Special Adviser to the Governor on Media and Communication, Mr. Kayode Akinmade, stated that the media parley served as a crucial platform for journalists to engage with key decision-makers and enhance public understanding of the state's achievements and future plans.