Governor Dapo Abiodun has presented a N1.66 trillion appropriation bill for 2026 before the Ogun State House of Assembly.
The governor unveiled the proposal on Wednesday at the Assembly Complex in Abeokuta.
The proposed budget, Christened ‘Budget of Sustainable Legacy’, represents a 57% increase compared to the N1.055 trillion budget of 2025.
Abiodun explained that the budget comprises:
He further highlighted allocations within the recurrent component:
The governor outlined the revenue sources for the 2026 fiscal year, noting that an estimated N250 billion is expected to be generated from the Ogun State Internal Revenue Service (OGIRS).
“The revenue composition includes an estimated N250 billion from the Ogun State Internal Revenue Service (OGIRS), and N259.88 billion from other Ministries, Departments, and Agencies (MDAs), totalling N509.88 billion in IGR.”
He added that: “funding from the Federal Government (FAAC revenue), including statutory allocations, Value Added Tax, and other shared revenues, is projected at N554.81 billion.
“Capital receipts are estimated at N518.90 billion, comprising internal and external loans as well as grants.”
Governor Abiodun provided a sectoral breakdown of the budget:
Despite prevailing economic challenges, Abiodun reaffirmed his administration’s commitment to building a resilient economy.
“Our administration remains steadfast in its commitment to building a strong and productive economy, empowering citizens, and promoting inclusive development across all sectors.”
He emphasized Ogun’s role as one of the largest contributors to Nigeria’s non-oil revenue, noting the state’s fiscal resilience, policy stability, and administrative innovation.
“Ogun remains one of the top three industrial states in Nigeria and one of the largest contributors to the non-oil revenue, nationally,” he said.
Speaker of the House of Assembly, Oludaisi Elemide, assured the governor of the legislature’s cooperation.
“The House will ensure a successful and speedy passage of the appropriation bill. We will continue to support the executive and judiciary arms of government.”
“The House will ensure a successful and speedy passage of the appropriation bill. We will continue to support the executive and judiciary arms of government.”
The Ogun State Government had set an ambitious target of generating N500 billion in Internally Generated Revenue (IGR) to fund its 2026 fiscal year, as part of efforts to strengthen the state’s economic independence and sustainability.
Abiodun had explained that the state’s long-term goal was to grow annual IGR to N750 billion by 2027, when his administration’s tenure would end.