Ogun State for the first time hits N1trillion mark for the preparation of annual fiscal estimates as Governor Dapo Abiodun presents a total of N1,054,542,020,147.47 to the State House of Assembly as the State’s proposed budget for 2025.
The budget, which votes N600.982 billion for the capital expenditure, representing 57% of the budget size and N453,560 billion, representing 43% of the total budget, seems aggressive going by its revenue projection and expenditure on capital projects in 2025.
Speaking during a special plenary at the State House Assembly in Abeokuta on Wednesday, Governor Abiodun said the budget, tagged “Budget of Hope and Prosperity,” earmarked N120.1 billion for personnel cost; N37.49 billion for consolidated revenue cost; N76.07 billion for public debt charges; and N219.86 billion for overhead costs.
On some of the key physical capital projects that would be executed in the 2025 budget, Governor Abiodun listed the renovation of General and State Hospitals and the purchase of laboratory and medical equipment across the State, revitalization of 80 primary health centers, and procurement of laboratory and medical equipment across all primary health facilities in the state, as well as the construction of roads across the State.
Other projects include the procurement and energizing of transformers, construction of fire stations across the state, upgrading of rural roads across the state, extension of the Redline Metro Rail from Agbado to Kajola, Blueline Metro Rail from Okokomaiko-Agbara/Lusada, and the Purpleline Metro Rail line.
He said the government would also embark on the construction of the Ogun Lodge Government House in Abuja, rehabilitate 150 km of feeder roads across the state, construct the OGIRS Revenue House, and a modern Court of Appeal in the state.
On the funding of the 2025 budget, Governor Abiodun said an estimated N120.97 billion would come from the State Internal Revenue Service, N193.85 billion from Ministries, Departments, and Agencies (MDAs), totaling N314.82 billion. Statutory allocations from the Federal Government, including Value Added Tax, are projected at N228.06 billion, while capital receipts comprising internal and external loans as well as grants and aids are estimated at N472.66 billion.
Giving a sectoral rundown of the budget, the governor said education would gulp N117.83 billion (17%), health N134.538 billion (13%), housing and community development N66.382 billion (6%), agriculture and industry N65.387 billion (6%), infrastructure N284.456 billion (27%), recreation, culture, and religion N25.27 billion (2%), social protection N39.836 billion (4%), general public service – executive organ N46.863 billion (4%), general public service – (financial & fiscal affairs) N42.284 billion.
Meanwhile, Governor Dapo Abiodun has again broken age-long jinx by rehabilitating the 45-year old Ogun State House of Assembly, built by the administration of late Harris Eghagha, a retired Brigadier General and Military Administrator of Ogun State between 1978 and 1979.
The governor inaugurated the newly renovated Assembly Complex on Wednesday before presenting the N1.054 trillion budget before the State House of Assembly.
Governor Abiodun, while inaugurating the State Assembly Complex, noted that the project was the fulfillment of a promise he made last year during the presentation of 2024 Appropriation Bill where he promised that the Complex would wear a new look when he comes to present the 2025 appropriation bill.
While appreciating the governor for embarking on the renovation of the Assembly Complex, Oludaisi Elemide, the Speaker of Ogun State House of Assembly, lauded cordial relationship between the Executive and the Legislature in the State, assuring that Assembly members would work towards the speedy passage of the budget.