Abiodun presents N1.668tr 2026 budget to Ogun assembly

The Ogun State governor, Dapo Abiodun presenting the 2026 Appropriation Bill to the Speaker of the state assembly, Daisi Elemide on Wednesday.

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The governor of Ogun State, Dapo Abiodun, on Wednesday presented a total sum of N1,668,997,993,125.44 to the state assembly for approval as the 2026 budget proposal for the state.

Speaking during the presentation of the budget at the assembly complex, Governor’s Office, Oke Mosan, Abeokuta on Wednesday, Gov Abiodun stated that the revenue composition of the 2026 Appropriation Bill titled the “Budget of Sustainable Legacy” includes an estimated ₦250.00 billion from the Internal Revenue, ₦259.88 billion from other Ministries, Departments, and Agencies (MDAs), totaling ₦509.88 billion in IGR.

He said that funding from the Federal Government, including Statutory Allocations, Value Added Tax, and other shared revenues, is projected at ₦554.81 billion, while capital receipts are estimated at ₦518.90 billion, comprising internal and external loans and grants.

Abiodun said that the focus of the 2026 budget is to deepen revenue transparency, expand the tax base, and strengthen fiscal sustainability—without placing additional burdens on residents.

Speaking during the presentation of the budget at the assembly complex, Governor’s Office, Oke Mosan, Abeokuta on Wednesday, Abiodun stated that the revenue composition of the 2026 Appropriation Bill titled the “Budget of Sustainable Legacy” includes an estimated ₦250.00 billion from the Internal Revenue, ₦259.88 billion from other Ministries, Departments, and Agencies (MDAs), totaling ₦509.88 billion in IGR.

He said that funding from the Federal Government, including Statutory Allocations, Value Added Tax, and other shared revenues, is projected at ₦554.81 billion, while the capital receipts are estimated at ₦518.90 billion, comprising internal and external loans as well as grants.

Abiodun said that the focus of the 2026 budget is to deepen revenue transparency, expand the tax base, and strengthen fiscal sustainability—without placing additional burdens on residents.

Gov explained that “the 2026 Appropriation Bill—our seventh budget—titled the ‘Budget of Sustainable Legacy’ 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.

“A total expenditure of ₦1,668,997,993,125.44 (₦1.669 trillion) is proposed for the 2026 fiscal year, representing a 63% growth over the 2025 Budget. The proposed expenditure comprises ₦624.76 billion (37%) as recurrent expenditure and ₦1.044 trillion (63%) as capital expenditure.”

The governor said that Personnel Costs are put at ₦167.92 billion, Consolidated Revenue Charges will gulp ₦65.80 billion, Public Debt Charges will take ₦99.98 billion, while Overhead Costs are put at ₦291.06 billion, with Capital Expenditure expected to gulp ₦1.044 trillion.

Further sectoral breakdown of the budget shows that Infrastructure received the lion’s share of the budget, totaling N526.15bn, forming 32% of the Appropriation Bill. This was followed by Education, which got N275.40bn (17%), and Health, with a total sum of N210.59bn, taking 13% of the 2026 financial estimate.

The governor said that the key physical capital projects in the 2026 Budget include the construction of about 450km of urban and rural roads across the state, the construction and rehabilitation of blocks of classrooms and technical workshops across the state.

Others are the construction of a 2,500-seater capacity State Banquet Hall, the upgrade of the Governor’s Lodge, Abuja, and Government House, Abeokuta, the construction of the Olokola Deep Sea Port, dairy farms, the world’s largest cotton factory set to employ over 250,000 people and produce over 1,000 tons of finished cotton products daily on public public-private partnership.

He stated that the state also in 2026 will also hold the Gateway Afrobeat Drum Festival which will serve as a grand celebration of the State’s rich cultural heritage—engaging the youth, attracting visitors, supporting local enterprises, creating jobs, and stimulating investment.

This festival, he said, will further strengthen the State’s position as a leading hub for African rhythm, creativity, and cultural innovation.

The governor also hinted that the golden jubilee of the state, scheduled for next year, will inspire unity, pride, and a renewed sense of belonging among the citizens at home and in the diaspora.

Giving an appraisal of the performance of the outgoing 2025 Budget, Governor Abiodun revealed that as of 30th September 2025, the State had recorded 58% of its pro‑rated revenue target and 52% of its pro‑rated expenditure target, describing this performance as evidence of fiscal discipline and a solid foundation.

He expressed optimism that by year-end, the State’s overall budget performance would reach between 70 and 75%, providing a stronger financial base for the 2026 Budget.

The governor said that his government in the last six years had constructed over 1500km of roads, brought over 70,000 under the coverage of Health Insurance, and was on track to meet the pledge of his administration to provide 10,000 housing units for the people of the state.

Abiodun also said that commercial flights at the newly completed Gateway International Airport have commenced, while the first phase of the proposed 34.1MW Power Plant Project that will provide 24 hours of uninterrupted power supply at Onijanganjangan is now nearing completion, with over ₦587 disbursed to support the owners of small and medium-scale businesses.

The Speaker, Oludaisi Elemide, noted that the presentation of the Appropriation Bill was a constitutional provision meant to ensure prudent utilization of public funds.

Elemide highlighted key legislative achievements, including the hosting of the third edition of the National Institute for Legislative and Democratic Studies Secondary School Competition on Legislature and Democracy; the Fifth Children’s Parliament maiden plenary, and the Southwest Youth Parliament, emphasizing the House’s commitment to democracy and good governance.

He disclosed that 19 bills were considered, with 11 passed, alongside 56 wide-ranging resolutions across education, finance, judiciary, audit, sports, infrastructure, community development, and transport compliance; while over 100 other matters relating to land, chieftaincy, environment, and transport unions were amicably resolved.

The Speaker stressed the need for a Special Court to handle cases relating to the Anti-Land-Grabbing Law, as land disputes now constitute more than 90% of petitions before the House.

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