Governor Dapo Abiodun of Ogun State, on Wednesday, presented N1.055trn as a proposed budget for the 2025 fiscal year to the State House of Assembly.
The governor stated that the financial document christened budget of ‘Hope and Prosperity’, is a blueprint for sustainable growth and a declaration of his administration’s commitment to better the lots of the people of the State.
He explained that the budget proposal would address various challenges confronting the State for sustainable growth.
The governor said the proposed 2025 budget, the sixth in the life of his administration would reflect essential reforms, current challenges, need for inclusive, diversified, and sustainable growth.
Stating further that the proposed budget aimed to stimulate economic growth, reduce inequality, and improve citizens’ well-being.
Abiodun said, “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.
“This budget strives to balance fiscal responsibility with improved public service delivery, ensuring resources are used effectively to maximise prosperity for all, by tackling immediate issues like unemployment and poverty while investing in long-term growth.
“It serves as a roadmap for economic and social progress. Its vision is to inspire hope, foster unity, and strengthen public trust in the government’s ability
to manage resources responsibly and guide the state toward a more equitable and sustainable future.”
While breaking down the budget proposed expenditure, Governor Abiodun, said N453.56bn and N600.98bn would be for recurrent and capital expenditures with Personnel Cost gulping N120.14bn with N37.49bn as Consolidated Revenue Cost.
The Public Debt Charge is expected to gulp N76.07bn and overhead cost as N219.86bn.
The governor highlighted physical projects which included the renovation of General and State Hospitals, procurement of laboratory and medical equipment across the state; construction of Redline Metro Rail Extension Agbado-Kajola; Blueline Metro Rail at Okokomaiko-Agbara/Lusada and Purple line Metro Rail line Mowe Iperu, as some of the capital projects that his administration would embark on in 2025
Governor Abiodun explained that infrastructure takes the lion’s share of N 284.456bn which represents 27 per cent of the budget followed by the education sector with a budget of N177.835bn and the health sector with a budget of N134.583bn.
He stated that the revenue composition included an estimated N120.97 billion from the Ogun State Internal Revenue Service (OGIRS) and N193.85 billion from other Ministries, Departments, and Agencies (MDAs), totalling N314.82billion.
“Statutory allocations from the Federal Government, including FAAC and VAT, are projected at N228.06 billion,” he said.
Earlier, the governor had commissioned the newly renovated Ogun Assembly Complex built 45 years ago.
Responding, the Speaker of the Assembly, Rt. Hon Oludaisi Elemide appreciated the governor for renovating the assembly complex.
Elemide disclosed that the assembly considered 14 bills, and passed nine bills while 32 motions were passed into resolutions.
He promised that the appropriation bill would be accorded accelerated passage.
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