On Monday, the Ogun State Commissioner for Finance, Dapo Okubadejo, said a sum of N240 billion is being projected as revenue for the year.
While identifying land resources as a significant factor in achieving the projected revenue.
He stated this during a media parley held at the Olusegun Osoba Press Centre, Governor’s Office, Oke Mosan, Abeokuta.
Okubadejo, flanked by other commissioners in the cabinet of Governor Dapo Abiodun, hinted that the state is one of the states of the federation that depends less on federal allocation.
He explained that internally generated revenue remained a critical part that the state would use to fund critical development.
The commissioner opined on the need for the state to be economically and financially independent.
Okubadejo equally stated that the debt profile of the state is decreasing while revenue generation is increasing.
“We are projecting N240 billion from our internally generated revenue this year. We are one of the states that is less dependent on federal allocation.
“We have to be economically and financially independent as a state. The execution of the 2024 budget is critical to us.
“Our revenue in the state is increasing while our debt profile is decreasing. The debt is used to fund capital expenditures that will improve the development of the state,” he said.
His counterpart in Budget and Planning, Olaolu Olambitan, explained that 71 per cent of the budget is geared towards developmental projects.
In his remarks, the Commissioner for Works and Infrastructure, Ade Akinsanya, said more roads in the state would receive both government and state attention.
Adesanya said, “This year, we are going to work towards the completion of abandoned projects, ongoing projects, Gateway Agro Cargo Airport, and other road projects, including the Agbara-Lusada-Atan road.
“The others are Ilaro-Owode, Sango-Ijoko-Agbado-Akute, and others. We are going to start witnessing a lot of commissioning soon.”
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