Governor Dapo Abiodun of Ogun State, on Wednesday, presented a N1.055 trillion budget proposal to the State House of Assembly for consideration and approval.
The proposal tagged “Budget of Hope and Prosperity”, is made up of N 600.98 billion as capital expenditure and N453.56 billion as recurrent expenditure.
He said the revenue composition includes N120.97bn from the State Internal Revenue Service and N193bn from Ministries, Departments and Agencies, totalling N314.82bn.
Abiodun said statutory allocations from the Federal Government include FAAC and VAT, projected at N228.06bn.
The governor added that the capital receipts are estimated at N472.66bn, comprising internal and external loans as well as grants and aids.
Abiodun maintained that the 2025 budget proposal “address the challenges facing out state and outline sustainable strategies to overcome them.”
He also described the budget as “a visionary roadmap for our collective future, a blueprint for sustainable growth, and a bold declaration of our unwavering commitment to improving the lives of every citizen in our beloved state.”
The Infrastructure and Education sectors received the highest allocation with N284.456 billion (27%) and N177.835 billion (17%), respectively.
The breakdown of the budget as provided by the governor also included N134.538bn for the Health sector; N66.382 billion for the Housing and Community Development and N65.387 billion allocated to Agriculture.
Abiodun said, “As the sixth budget of this administration, the 2025 Appropriation Bill reflects current challenges, essential reforms, and the need for inclusive, diversified and sustainable growth. It aims to stimulate economic growth, reduce inequality and improve citizens’ wellbeing.
“The budget prioritizes infrastructure, healthcare, housing, security, education, youth empowerment, job creation and agriculture, with policies designed to drive recovery and transformation during economic turbulence.”
