Ogun State Governor, Dapo Abiodun, yesterday laid before the State House of Assembly a proposed 2026 Appropriation Bill totalling N1,668,997,993,125.44, tagged Budget of Sustainable Legacy.
The budget presentation took place at the Assembly Complex during a plenary session presided over by the Speaker, Oludaisi Elemide.
According to the governor, N624.76 billion has been earmarked for recurrent expenditure, while N1.044 trillion is allocated to capital expenditure for the 2026 fiscal year.
Breakdown of Recurrent Spending
Abiodun disclosed that personnel costs would take N167.92 billion, consolidated revenue charges N65.80 billion, and public debt charges N99.98 billion. He added that N291.06 billion would go into overhead costs, with capital projects retaining the largest share of N1.044 trillion.
Speaking further, the governor revealed that the total expected funding stands at N1.668 trillion, with the state anticipating N509.88 billion in internally generated revenue (IGR). This comprises N250 billion from the Ogun State Internal Revenue Service (OGIRS) and N259.88 billion projected from other Ministries, Departments and Agencies (MDAs).
He added that revenue from the Federation Account Allocation Committee (FAAC)—including statutory allocations, VAT, and other shared revenues—is expected to hit N554.81 billion, while capital receipts are projected at N518.90 billion through internal and external loans, as well as grants.
“Beyond figures, the heart of the budget lies in its commitment to improving lives and safeguarding the future of residents,” Abiodun stated.
“As we look to the year 2026, I am confident that, with divine guidance and our collective resolve, Ogun State will continue to chart a path of sustainable growth and shared prosperity.”
Earlier, the Speaker, Oludaisi Elemide, described the proposed budget as a renewed push toward advancing socio-economic growth across the state. He assured that the Assembly would give the Appropriation Bill swift consideration and passage, while maintaining collaboration with the executive and other arms of government for the benefit of the people.
The 2026 budget, when approved, is expected to drive infrastructural development and consolidate ongoing economic reforms across Ogun State.
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