Ogun State Unveils Ambitious N1.05 Trillion Budget for 2025: A Path to Prosperity
The Ogun State Government has pledged to accelerate the implementation of its N1.05 trillion budget for 2025, outlining a future brimming with growth and prosperity. The state’s Chief Economic Advisor and Commissioner for Finance, Dapo Okubadejo, made this statement on Tuesday in Abeokuta, during a media parley where he elaborated on the strategic components of the “Budget of Hope and Prosperity.”
The significant increase in this year’s budget, according to Okubadejo, aims to fund critical projects across education, healthcare, housing, youth empowerment, and essential services, all geared towards enhancing the well-being of residents. He explained that this hike is a result of the state’s ongoing reforms and the elimination of financial leaks. From 2020’s budget of N335 billion, Ogun’s fiscal plan grew to N1.1 trillion in 2024, and now stands at N1.05 trillion for 2025.
Okubadejo pointed out that the early start of this year’s budget implementation would pave the way for measurable improvements. He also highlighted that Ogun’s Internally Generated Revenue (IGR) had been bolstered through comprehensive reforms in land administration, trade, and digital services, leading to greater efficiency. For 2025, the state plans to generate N194 billion from Ministries, Departments, and Agencies (MDAs), N121 billion from internal revenue, and N228 million from federal allocations, compared to N199 billion in 2024.
The Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, further clarified the financial allocations, stating that the 2025 budget is divided into N600 billion for Capital Expenditures and N400 billion for Recurrent Expenditures. This represents a 50% increase over the previous year’s budget of N703 billion. Olabimtan emphasized the government’s strategic move towards reducing dependency on federal allocations by focusing on internal revenue generation, positioning the state for sustainable financial growth.
A major focus of the budget is the education sector, where N178 billion has been earmarked, constituting 17% of the total budget. This will fund the construction of 12 state-of-the-art smart schools, each with 900 classrooms. Additionally, the Ministry of Education will focus on upgrading older school buildings, installing vital amenities such as boreholes, and enhancing school security.
The state’s agricultural ambitions were outlined by Hon. Bolu Owotomo, the Commissioner for Agriculture and Food Security. He revealed plans to revive farm settlements, improve rural roads, and implement a robust agricultural value chain. The distribution of 1,000 water pumps for dry-season farming will empower both youth and women to actively engage in agriculture.
Further investments are also planned in transportation. Commissioner for Transportation, Gbenga Dairo, spoke about expanding the Lagos Red, Blue, and Purple rail lines into Ogun State. This will improve the transportation of goods and ease commuting for residents. The government is also focusing on water transportation, aiming to enhance the state’s freight network and bolster connectivity.
With strategic investments across multiple sectors, the Ogun State government is laying the groundwork for long-term growth and prosperity, guided by the 2025 Budget.
