For the records: 2026 Budget Speech: Budget of Sustainable Legacy

Delivered By: His Excellency, Prince Dapo Abiodun, CON

The Governor of Ogun State,

At the Ogun State House of Assembly, Abeokuta, Ogun State. On this day, Wednesday, 3rd of December, 2025

PROTOCOLS

1.It is with deep honour and a heart filled with gratitude to Almighty God that I stand before this distinguished House and the esteemed stakeholders of Ogun State to present the Year 2026 Appropriation Bill, aptly titled the “Budget of Sustainable Legacy.” This theme reflects the work of our Administration over the past six years—years of steady progress, thoughtful investment, and purposeful governance. It captures our resolve to consolidate the gains of previous budgets, entrench reforms, and deliver projects that are sustainable, enduring, and fit for the future. It also acknowledges that this is the last fully implementable budget of this Administration, making it both a culmination of our journey and a foundation for those who will build on the legacy we leave behind.

2.I wish to pay special tribute to His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, whose Renewed Hope Agenda continues to inspire confidence across the nation. Through far-reaching economic reforms, fiscal discipline, and strategic policy initiatives, his administration is steadily repositioning Nigeria for long-term stability and inclusive prosperity.

3.His unwavering commitment to strengthening fiscal and monetary policy reforms has restored credibility to our national economy. Indeed, his exemplary leadership has ushered in a new era of accountability and efficiency in public finance, empowering states like ours with more financial resources to implement reforms that directly address the needs and aspirations of our people.

4.In Ogun State, we remain firmly aligned with this national mission. Inspired by this visionary agenda, we are deepening our fiscal reforms, enhancing budget credibility and performance, expanding our revenue base through digitisation and public-sector reforms, and ensuring prudent management of public resources. These measures are designed to meet the yearnings of our citizens—by improving service delivery, fostering economic expansion, and building a more resilient and people-centred financial ecosystem.

5.Let me emphasize that this year’s budget is particularly significant, coming at a time when our State is experiencing improved economic growth, renewed investor confidence, and steady progress across key sectors. Beyond being a constitutional requirement, this annual exercise reaffirms our shared and unwavering commitment to responsible governance, inclusive development, and the continued advancement of our dear State.

6.Distinguished Honourable Members, today presents a unique opportunity to consolidate the gains we have achieved so far and to chart a bold, strategic course towards a sustainable and prosperous future for our dear State. I must commend this Honourable House for your prompt and diligent consideration of the 2025 Appropriation Bill and its timely passage. Your swift action reflects your dedication to economic progress, legislative excellence, the welfare of our citizens, and your readiness to collaborate with the Executive in delivering on our collective dreams and aspirations.

7.Our responsibility remains a shared one, demanding continuous dialogue, mutual respect, and unwavering dedication to the common good. I am confident that this Honourable House will sustain this spirit of meaningful partnership as you consider the 2026 Appropriation Bill. I trust that your deliberations will be rigorous and timely, enabling the Appropriation Law to take effect on 1st January 2026, thereby reinforcing the democratic ideals that underpin our governance and strengthening our resolve to deliver meaningful, people-centred, and sustainable development.

8.Today, I present the 2026 Budget of Sustainable Legacy, a forward-looking financial plan designed to consolidate our recent economic gains and accelerate our journey towards sustainable growth and shared prosperity. It strengthens macroeconomic stability, expands capital investments, and prioritizes sectors that directly enhance the well-being of our people. Above all, this Budget reaffirms our commitment to the “Building Our Future Together” mantra of this Administration, anchored on the ISEYA Development Agenda—Infrastructure, Social Welfare and Well-being, Education and Human Capital Development, Youth Empowerment, and Agriculture & Food Security.

9.This Budget is more than a financial document; it is a bold statement of purpose and a strategic roadmap to a prosperous, inclusive, and economically resilient Ogun State. Each pillar of the ISEYA Agenda continues to drive our progress and shape the transformation we all envision.

10.Over the past six years, we have grown our State economy to an estimated Gross Domestic Product of about Seventeen Trillion Naira (₦17 trillion). Our Internally Generated Revenue (IGR) has grown considerably from about Fifty-Two Billion Naira (₦52 billion) in 2020 to close to One Hundred and Ninety-Two Billion Naira (₦192 billion) as of 2024, and is projected to reach about Two Hundred and Fifty Billion Naira (₦250 billion) for the full year 2025.

11.Infrastructure remains a key driver of our Development Agenda. Over the past six years, our Administration has taken proactive and audacious steps to position Ogun State as Nigeria’s foremost hub for logistics, trade, and industry.

12.I am delighted to inform this Honourable House that the Gateway International Airport, our visionary flagship project, is now fully certified and has commenced commercial flight operations between Ogun and Abuja. This milestone opens a new chapter in the State’s economic transformation. The airport is fast becoming a magnet for international investment, a catalyst for export-driven agriculture, and a source of high-quality jobs across the aviation value chain.

13.We have not merely built an airport—we have created an aerotropolis. This integrated ecosystem strengthens the synergy between aviation, agriculture, industry, logistics, tourism, and housing development. The project has attracted wide national attention from government and media stakeholders within and outside Nigeria, underscoring its importance as a transformational legacy.

14.In addition, the ongoing construction of the Kajola and Ijebu-Ode Inland Dry Ports will significantly enhance the movement of goods between our industrial corridors and the Lagos seaports. When completed, both ports will work seamlessly with our airport—reducing transport costs, expanding manufacturing capacity, boosting exports, and unlocking enormous opportunities in logistics and agro-processing.

15.Furthermore, in just six years, we have constructed and rehabilitated over 1,500 kilometres of roads—more than the achievements of previous administrations over a combined period of sixteen years. This unprecedented milestone has opened rural communities, improved urban mobility, reduced transport and logistics costs, enhanced trade, and boosted productivity across all sectors.

16.Major roads either completed or under construction in the Central Senatorial District include the 13.1km Ijana–Alapako–Oni–Mosa Road in Obafemi-Owode; 12.98km Kila–Alagbagba Road in Odeda; 10.34km Tepona Road in Wasimi, Ewekoro; 6.5km Olodo–Adawo Road in Odeda; 19.02km Akinsinde–Coker Market Road; 4.3km Akute–Ajuwon Road; and the 1.45km Alagbole–Ajuwon Road, all in Ifo.

17.In the West Senatorial District, key projects include the 10.08km Agosasa–Idolorisa Road in Ipokia; the 16.02km Oja-Odan–Orobiyi–Ebute Igbooro Road in Yewa North; and the 3.12km Oke-Erinja Road (Phase I) in Yewa South.

18.In the East Senatorial District, projects include the 15.19km Itebu–Ago-Isobo Road in Ogun Waterside; the 14.09km Mamu–Aba Panu Road in Ijebu North; the 8.64km Ganganbiaro–Odo Ona Road in Remo North; the 1.5km Awomasu–Agbato Road in Ogere, Ikenne; the 1.6km Odolewu–Lasesi–Isiwo Road in Odogbolu; and the 1.4km Awokoya Road in Ijebu-Ode.

19.We also facilitated the construction of a dedicated access road leading to the Prof. Wole Soyinka Railway Station in Abeokuta, and have prioritized key federal corridors such as the 103km Sagamu–Papalanto Road and the 72km Ota–Abeokuta Road—critical steps toward regional integration and transport efficiency.

20.Our modernization efforts in the health sector have yielded measurable, life-changing results. Through targeted renovations, new facilities, solar-powered energy systems, and the implementation of Electronic Medical Records (EMR) at over 140 Primary Health Care Centres, we have strengthened healthcare delivery across the State.

21.The expansion of the Ogun State Health Insurance Scheme has increased enrolment to over 70,000 citizens, reducing out-of-pocket medical expenses and improving access to quality care—an achievement that continues to ease the financial burden of healthcare for thousands of households.

22.As part of our Administration’s public–private partnership initiatives aimed at fast-tracking strategic projects, I am pleased to announce that the once-stalled 250-bed Specialist Hospital in Oke-Mosan, Abeokuta—now rebranded as the Ogun State Medical Centre of Excellence—is nearing completion. Concessioned to Viewpoint Health Management Services Limited to ensure effective management, sustainable operations, and long-term value, the Centre will deliver world-class healthcare, serve as a premier referral hub, support cutting-edge medical research and training, and create substantial employment opportunities. Once operational, it will become the first port of call for all, positioning Ogun State as a destination for medical tourism.

23.The first phase of the proposed 34.1MW Power Plant Project at Onijanganjangan is now nearing completion. Upon commissioning, it will deliver uninterrupted, 24-hour electricity to residents and businesses within the surrounding corridors, significantly boosting productivity and improving quality of life.

24.Furthermore, we have expanded our Ogun Light-Up Project through the installation of solar-powered streetlights across multiple communities. Notably, solar LED streetlights have been deployed along the President Muhammadu Buhari (PMB) Estate–Kuto axis in Abeokuta, enhancing the aesthetics of the environment while creating a safer, more vibrant space for economic activity and comfortable living. We plan to deliver more of these solar-powered streetlights in the near future.

25.Complementing these efforts, we have also installed and energized new transformers in various parts of the State to strengthen access to reliable electricity and further uplift the living standards of our people.

26.Our robust housing investment continues to meet the rising demand for affordable, quality homes while driving slum regeneration and sustainable urban development across our dear State. Having delivered more housing units than all previous administrations combined, we remain firmly on track to complete over 10,000 affordable homes by the end of this Administration.

27.The completed 36-unit Olumo Residential Court Apartments in Ibara, Abeokuta, the Affordable Housing Scheme for Appeal Court staff at Prince Court, Kobape, and several other landmark projects testify to the strength of our housing drive. I am pleased to note that work is progressing steadily on the Ibara GRA Urban Regeneration Project. So far, more than 150 modern housing units have been completed out of the over 200 planned for this prime area of Abeokuta. Prior to our intervention, Ibara GRA had deteriorated into an eyesore and had been overtaken by illegal occupants. Our regeneration efforts reflect a broader commitment to restore dignity, order, and structure to our State capital.

28.Other ongoing projects—such as the 18-unit BOFT Apartments in Warewa, the 54-unit King’s Court Phase II at Oke-Mosan, and 100 housing units at PMB Estate—will further elevate urban living standards and promote sustainable community development across the State.

29.To enhance the safety of lives and property, we have recruited and equipped about 1,525 Amotekun operatives, over 4,700 So-Safe Corps personnel, and over 500 Neighbourhood Watch operatives, bringing the total security workforce to 6,725 officers. We have further deployed advanced surveillance systems and strengthened inter-agency coordination. These measures continue to safeguard public peace and boost investor confidence.

30.Recognizing the importance of micro and small businesses as vital engines of economic growth, we have, through our development partners, supported about 5,371 enterprises with grants ranging from ₦100,000 to ₦300,000, for a total of about Five Hundred and Eighty-Seven Million Naira (₦587.1 million) disbursed. These interventions are helping entrepreneurs expand their operations, boost productivity, adopt modern technologies, create jobs, and stimulate local economies across the State.

31.Under our Education and Human Capital Development Pillar, we are transforming the education landscape across Ogun State. We have strengthened the Education Management Information System (EMIS) for more effective planning, rehabilitated science laboratories in selected public secondary schools, and fully renovated all eight Government Technical Colleges, thereby creating modern, conducive, and future-ready learning environments.

32.During the year, Ogun State consolidated its position as the national leader in skills development by becoming the first state in Nigeria to institutionalise the Nigerian Skills Qualifications Framework and the first state licensed by NBTE to operate a National Skills Qualifications Awarding Body—the Ogun State Skills Qualifications Board. We also became the first State to establish a dedicated Skills Funding Agency, the Ogun State Skills Fund, created by Executive Order, and the pioneer of Results-Based Contracting in skills financing, which has now been adopted by the Federal Government for national TVET programmes.

33.We strengthened our TVET ecosystem through the full revamping of our eight Government Technical Colleges under OGSTEP and by opening integrated Job Centres with Work Hubs, linking citizens to paid employment and supporting the self-employed with tools and equipment. We also piloted, for the first time in Nigeria, the use of National Occupational Standards to train apprentices in the traditional apprenticeship system.

34.Through our expanded programmes, we funded the training of 13,332 residents in vocational and ICT skills; 12,767 residents in foundational literacy, including digital and financial literacy; 5,161 farmers and rural agro-processors in business development skills; and 8,498 artisans in entrepreneurship and business skills. A tracer study confirms that more than 13,000 beneficiaries have recorded increased income as a direct result of these interventions.

35.Ogun State further secured national recognition as a Certiport Accredited Testing Centre, training over 500 beneficiaries. These achievements, alongside Federal Government endorsements, underscore Ogun’s status as the model for TVET and workforce development in Nigeria. In the coming year, we will consolidate these gains and deepen reforms that expand jobs, productivity, and economic opportunities for our people. By investing simultaneously in infrastructure and human capital, we are laying a strong foundation for innovation, creativity, and sustainable development—ensuring that the future of Ogun State is driven by a skilled, confident, and forward-looking generation.

36.Through OGSTEP, we have empowered over 39,000 individuals, including 1,400 STEM teachers, 100 Quality Assurance Officers, 120 technical instructors, and over 4,000 vocational trainees. Furthermore, eight Technical Colleges, 22 laboratories, and four Education Resource Centres were rehabilitated.

37.Through SUBEB interventions, over the past five years, we have constructed and rehabilitated over 1,067 schools in the State. We have commenced another infrastructure upgrade scheme tagged “Ogun State Rehabilitation of Halls and Academic Buildings (OgunREHAB),” through which we responded rapidly to natural disasters and infrastructure deficits in schools this year. In the coming year, we hope to intervene, through OgunREHAB, in about 500 schools.

38.In addition, a comprehensive renovation of our tertiary institutions is underway, focusing on lecture theatres, laboratories, libraries, hostels, and other essential facilities. Guided by stakeholder engagement, these interventions are designed to deliver an enabling environment for effective teaching, robust research, and meaningful learning.

39.Our youth remain the backbone of Ogun State’s future, and their empowerment continues to be one of this Administration’s highest priorities. To this end, we have implemented a range of programmes designed to enhance skills, promote meaningful engagement, and improve overall well-being.

40.In furtherance of our commitment to youth empowerment, we recently commissioned the Ogun Job Centre and Work Hub at the Government Science and Technical College, Idi-Aba, Abeokuta, with similar centres replicated in the other two senatorial districts. These centres provide young people with access to employment opportunities, vocational training, and career development resources. They complement the existing hubs in Ijebu-Ode and Ota, thereby creating a robust, State-wide support network for our youth.

41.These centres serve as incubators for talent, innovation, and entrepreneurship, equipping our young people with the tools they need to become self-reliant, skilled, and productive citizens. Through these initiatives, we are not only addressing unemployment but also nurturing a generation prepared to drive sustainable economic growth and social advancement across Ogun State.

42.Ogun State has also distinguished itself as a premier destination for sporting excellence. We successfully hosted the 2024 National Sports Festival, widely acclaimed as one of the best-organised editions in terms of facilities, ceremonies, athlete welfare, and attendance. It is worthy to note that Ogun State, in its best-ever performance at a Sports Festival, placed second on the medals table with 93 Gold, 65 Silver, and 81 Bronze medals, for a total of 239 medals.

43.Through the hosting of the Sports Festival, we have catalysed a sports economy in the State, hosting major continental events, including the African Athletics U18/U20 Championships. Our selection to host the 2025 West Africa Paralympic Games (WAPARA 2025) further reinforces our standing as a hub for top-tier sporting and economic activities.

44.The upgraded MKO Abiola Sports Arena now ranks among Africa’s finest sporting facilities—an achievement that reflects our steadfast commitment to youth development, athletic excellence, and global competitiveness.

45.Beyond sports, these investments are boosting tourism, stimulating local businesses, and creating jobs across the hospitality, transportation, and trade sectors, ultimately contributing to the broader economic growth of our State.

46.Our revitalisation of the Olumo Rock Tourist Centre stands as a landmark achievement, marking the most transformative upgrade in its history. This intervention has repositioned the iconic site into a dynamic hub for culture, recreation, and enterprise. While preserving its deep historical and cultural significance, the enhanced facilities now offer richer visitor experiences—attracting more tourists, energising local businesses, creating jobs, and elevating Ogun State’s stature as a foremost destination for tourism and heritage in Nigeria.

47.To guarantee long-term efficiency, sustainability, and global standards of service delivery, we have concessioned the Tourist Centre to a competent private operator. This strategic decision ensures professional management, optimal utilisation, and steady growth in the facility’s economic and cultural value.

48.We are currently rehabilitating storage and processing facilities across all eight farm settlements in the State, ensuring that our farmers have access to modern and functional infrastructure that significantly boosts productivity. In addition, we have deployed a wide range of contemporary agricultural equipment—including tractors, cassava planters, uprooters, tipping trailers, and grain planters—to advance large-scale mechanised farming. These interventions are enhancing efficiency, increasing yields, and strengthening food security, while strategically positioning Ogun State’s agricultural sector for sustainable growth and expanded economic impact.

49.Through our Ogun State Economic Transformation Project (OGSTEP), and in support of a business-enabling environment, we have issued over 150,000 Certificates of Occupancy in two years, rehabilitated seven Zonal E-Planning Offices, and deployed Land GIS for transparency and efficiency.

50.We have supported over 33,075 farmers; mechanised over 9,000 hectares of farmland; supplied over 90,000 units of agro-chemicals; distributed about 18,000 bags of fertilisers, 200,000 bags of fish feed, and over 78,000 bags of poultry feed; while over 290,000 tonnes of agricultural produce were off-taken by large firms and manufacturers.

51.Furthermore, to strengthen food security, an infrastructure needs assessment of all eight farm settlements and estates has been completed, and comprehensive rehabilitation is underway. At the Odeda Farm Institute, a 100,000-capacity broiler facility with staff residences has been completed. Poultry pens are at various stages of construction in three additional locations, and a 5,000-bird-per-day processing plant is being installed at the Ajegunle Farm Settlement. We are also rehabilitating warehouses and establishing fish and cassava processing facilities across the settlements.

52.We facilitated the establishment of the new Federal Court of Appeal in Abeokuta, a timely and significant development, particularly in light of our State’s expanding economic profile and the corresponding increase in litigation. Until now, litigants and legal practitioners were compelled to travel to neighbouring States to pursue appeals—an inconvenience that often resulted in delays, higher costs, and unnecessary strain on the justice system.

53.The creation of this new Division will ease pressure on existing appellate courts, accelerate the administration of justice, and strengthen public confidence in our judicial processes. Beyond this, it will enhance the ease of doing business by ensuring faster resolution of commercial disputes and attracting greater legal, commercial, and professional activities to Ogun State, further consolidating our standing as a centre of judicial excellence.

2025 BUDGET IMPLEMENTATION REVIEW

54.The 2025 Budget, aptly titled the “Budget of Hope and Prosperity,” was crafted as a strategic framework to stimulate inclusive economic growth, reduce inequality, and enhance the overall quality of life for the good people of Ogun State. It represents a deliberate blend of prudent financial stewardship and ambitious, visionary planning—ensuring that our resources are efficiently directed toward pressing priorities while advancing long-term development goals.

55.Anchored on the principle of inclusive growth, the 2025 Budget sought to expand opportunities for all, empower citizens across sectors, and deploy targeted social interventions to address urgent needs. More than a financial document, it reflected our Administration’s resolve to restore hope, deepen public confidence in governance, and propel our State toward sustainable progress.

56.The Budget struck a careful balance between fiscal discipline and effective service delivery, ensuring that every naira expended yielded measurable value. It addressed unemployment and poverty, supported transformative economic growth, and enhanced social well-being, while also committing to strategic investments that secure long-term prosperity.

57.Mr. Speaker, Honourable Members, I now wish to highlight some key elements of the 2025 Budget:

PARTICULARS  AMOUNT (N)

FUNDING

Internally Generated Revenue              314.82B

Expected Inflows from the Statutory Allocation, Value Added Tax, Capital Receipts, and others 739.73B

TOTAL FUNDING 1,054.54B

EXPENDITURE

Recurrent Expenditure 454.55B

Capital Expenditure     599.99B

TOTAL EXPENDITURE   1,054.54B

58. As of 30th September 2025, we had achieved 58% of our pro-rata revenue target and 52% of our pro-rata expenditure target. This performance underscores our fiscal discipline and positions us to close the year strongly.

RECENT KEY ECONOMIC DEVELOPMENTS

59. The global economy remains highly volatile, shaped by rising trade barriers, inflationary pressures, geopolitical tensions, and climate-related disruptions that affect energy systems, food supply chains, and international trade. The ongoing shift toward renewable energy—combined with fluctuating oil prices and extreme weather events such as droughts, floods, and heatwaves—has intensified uncertainty and heightened food insecurity around the world.
60. On the global governance front, Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list stands out as a major milestone in strengthening financial transparency, regulatory compliance, and anti-money-laundering frameworks. This achievement signals to international investors that Nigeria is committed to sound financial governance, thereby boosting confidence in the stability and integrity of the national economy.
61. The impact of this development was reflected almost immediately in the capital markets. Nigeria’s most recent Eurobond issuance was oversubscribed by more than 400%, a strong indication of renewed global investor trust in the country’s economic management. Beyond attracting foreign investment, this milestone enhances Nigeria’s credibility in international financial circles, supports macroeconomic stability, and provides a solid foundation for long-term, sustainable growth.
62. Within Nigeria, the domestic economy continues to evolve under sweeping fiscal, monetary, and trade reforms—including the removal of fuel subsidies, the liberalisation of the exchange rate, and the introduction of new tax measures set to commence in January 2026, such as a revised VAT sharing formula and income-tax exemptions for low-income earners.
63. Nigeria’s recently rebased GDP highlights strong performance in emerging sectors such as technology, logistics, creative industries, and renewable energy. However, the country’s relatively low tax-to-GDP ratio—13.5% in 2024, with a projected increase to 18% by 2030—underscores the urgent need to strengthen revenue mobilisation, curb leakages, and reinforce long-term fiscal sustainability.
64. Against this evolving national backdrop, Ogun State continues to demonstrate notable fiscal resilience, policy stability, and administrative innovation under my leadership as the Executive Governor of our dear State. Ogun remains one of the top three industrial States in Nigeria and one of the largest contributors to non-oil revenue nationally. According to the Budget Office of the Federation’s 2025 Fiscal Performance Report, Ogun State ranks among the top IGR-generating States, reflecting consistent improvement in fiscal transparency, economic reforms, and investor-friendly policies.
65. The 2026–2028 Medium-Term Expenditure Framework (MTEF) will intensify efforts to attract private-sector participation, expand internally generated revenue, and consolidate Ogun State’s position as Nigeria’s foremost industrial and logistics hub. The State’s six designated Economic Development Clusters—located in Remo, Ijebu-Ode, Magboro, Ado-Odo/Ota, Abeokuta, and Imeko—together with the Free Trade Zones in Olokola, Igbesa, and Kajola, continue to stimulate industrial growth, deepen value chains, and create jobs across the State.
66. These clusters have already attracted multinational manufacturers such as Coleman Technical Industries, Lafarge Africa, Nestlé Nigeria, International Breweries, Fidson Healthcare, and Olam Agro, further advancing Ogun’s reputation as a stable, business-friendly environment. Notably, the State recorded over USD 1 billion in private investment commitments between 2021 and 2024, according to the Nigerian Investment Promotion Commission (NIPC).
67. These initiatives have contributed significantly to Ogun State’s strong fiscal performance. The Budget 2025 Report confirms Ogun as one of the few subnational economies with IGR consistently growing year-on-year, driven by strategic reforms in land administration, tax automation, digital revenue systems, and improved ease of doing business—reinforced by the State’s ranking as one of the top five most investor-attractive States in Nigeria (NESG Subnational Competitiveness Index, 2024).
68. This achievement underscores our economic resilience, consistency in policy implementation, and the growing appeal of Ogun State to both domestic and international investors—firmly positioning our State as a leading destination for business expansion, industrial development, and sustainable economic growth.
69. Collectively, these measures reaffirm our unwavering commitment to inclusive, innovation-driven, and sustainable development—anchored on fiscal discipline, economic diversification, and the holistic well-being of our citizens.

PRIORITIES OF THE 2026 APPROPRIATION BILL

70. Rt. Hon. Speaker, Honourable Principal Officers, and Distinguished Members of the Ogun State House of Assembly, I am honoured to present the 2026 Appropriation Bill for your consideration and legislative approval.
71. The strategic priorities and implementation roadmap of this Administration, as clearly articulated in the 2026–2028 Medium-Term Expenditure Framework (MTEF), remain firmly anchored on the five pillars of our I.S.E.Y.A. Development Agenda—Infrastructure, Social Welfare and Well-being, Education, Youth Development, and Agriculture/Food Security. These pillars continue to guide our efforts to deliver inclusive growth, drive sustainable development, and improve the quality of life of our people.
72. In strict adherence to the Fiscal Responsibility Law, 2020 (as amended), this Honourable House graciously approved both the 2026–2028 Medium-Term Fiscal Framework (MTFF) and the Medium-Term Budget Framework (MTBF). This approval has provided the fiscal foundation required for broad-based stakeholder consultations, transparent budget preparation, and evidence-based allocation of resources. The Ogun State Fiscal Responsibility Law—modelled after national best practices—mandates prudent spending, debt sustainability, and realistic forecasting, all of which have guided the formulation of this Appropriation Bill.
73. As part of our commitment to inclusive and participatory governance, we expanded citizen engagement through digital feedback platforms, stakeholder working groups, and a series of Town Hall Meetings held across the four divisions of the State. These engagements recorded over 5,000 direct participants and aggregated inputs from community leaders, private-sector actors, labour unions, women’s groups, youth associations, civil society organisations, and professional bodies.
74. These insights have been integrated into the 2026 Budget, ensuring that its priorities reflect the expectations and developmental aspirations of our people. This approach aligns with global best practices, including the OECD principles on open budgeting and Nigeria’s Open Government Partnership (OGP) commitments, under which States are encouraged to expand civic participation in budget processes.
75. In the 2026 fiscal year, we will continue to pay priority attention to the following areas:
76. Completion of ongoing projects across the ISEYA Development pillars;
77. Projects with strong revenue-generating potential;

III. Projects that enhance employment generation;

1. Projects consistent with priorities articulated in the State Economic Development Plan & Strategy; and
2. Projects that align with the Medium-Term National Development Plan.
3. Proects that align with Mr. Presidents Renewed Hope Agenda
4. Together, these priorities reinforce our commitment to building a more prosperous, competitive, and inclusive Ogun State—one where public resources are deployed efficiently and transparently for the collective good.

SUPPORTING PARAMETERS AND FISCAL ASSUMPTIONS FOR THE 2026 APPROPRIATION BILL

78. The 2026–2028 Medium-Term Fiscal Framework (MTFF) sets out the parameters for the 2026 Appropriation Bill. These include both national and State macroeconomic indicators.

National Indicators

79. The three tiers of government depend largely on Federation Account Allocations, derived mainly from crude oil sales and Value Added Tax (VAT). The Federal Government’s key parameters and fiscal assumptions are:
80. Oil price benchmark: USD 76.20 per barrel
81. Daily oil production estimate (with condensate): 2.10 million barrels

iii. Exchange rate: ₦1,400 per US Dollar

4. Projected GDP growth rate: 4.4%
5. Inflation rate: 14.21%

State Indicators

80. The State Government’s parameters and fiscal assumptions are:
81. Estimated nominal GDP: ₦18.79 trillion (rebased)
82. Projected GDP growth rate: 4.40%

iii. Inflation rate: 14.10%

STATE GOVERNMENT FUNDING ESTIMATES

81. We shall continue to improve our Medium-Term Revenue Strategy (MTRS) to drive the implementation of the Medium-Term Expenditure Framework (MTEF). Total State funding is estimated at ₦1,668,997,993,125.44 (One Trillion, Six Hundred and Sixty-Eight Billion, Nine Hundred and Ninety-Seven Million, Nine Hundred and Ninety-Three Thousand, One Hundred and Twenty-Five Naira, Forty-Four Kobo) for the year 2026.
82. The revenue composition includes an estimated ₦250.00 billion from the Ogun State Internal Revenue Service (OGIRS) and ₦259.88 billion from other Ministries, Departments, and Agencies (MDAs), totalling ₦509.88 billion in IGR. Funding from the Federal Government (FAAC revenue), including Statutory Allocations, Value Added Tax, and other shared revenues, is projected at ₦554.81 billion.
83. Capital receipts are estimated at ₦518.90 billion, comprising internal and external loans as well as grants.
84. Our internally generated revenue capacity remains one of the most robust among subnational entities in Nigeria. We will continue to leverage our strategic position as a trade corridor, draw on insights from the rebased GDP, and capitalise on our proximity to Lagos State. Our focus is to deepen revenue transparency, expand the tax base, and strengthen fiscal sustainability—without placing additional burdens on residents.

BUDGET THEME AND PROJECTED 2026 PROGRAMMES

85. The 2026 Budget proposals address the challenges facing our State and outline sustainable strategies to overcome them.
86. The 2026 expenditure policy aligns with the 2018–2030 State Development Plan and our Economic Development Strategy, focusing on fiscal sustainability, human development, food security, a business-friendly environment, energy sufficiency, improved transport infrastructure, and SME-driven industrialisation.
87. The 2026 Appropriation Bill—our seventh budget—titled the “Budget of Sustainable Legacy” reflects a deliberate commitment to preserving, deepening, and expanding the transformative foundations already laid over the years. It is a financial plan anchored on continuity, consolidation, and long-term impact—ensuring that the progress achieved evolves into lasting benefits for current and future generations.
88. A total expenditure of ₦1,668,997,993,125.44 (₦1.669 trillion) is proposed for the 2026 fiscal year, representing a 63% growth over the 2025 Budget. The proposed expenditure comprises ₦624.76 billion (37%) as recurrent expenditure and ₦1.044 trillion (63%) as capital expenditure, with the following key components:
89. Personnel Costs: ₦167.92 billion
90. Consolidated Revenue Charges: ₦65.80 billion

iii. Public Debt Charges: ₦99.98 billion

291. Overhead Costs: ₦291.06 billion
292. Capital Expenditure: ₦1.044 trillion

HIGHLIGHTS OF 2026 MAJOR EVENTS / PROGRAMMES

89. The 2026 Gateway Afrobeat Drum Festival will serve as a grand celebration of Ogun State’s rich cultural heritage—engaging our youth, attracting visitors, supporting local enterprises, creating jobs, and stimulating investment. This festival further strengthens our State’s position as a leading hub for African rhythm, creativity, and cultural innovation.
90. As Ogun State approaches its 50th Anniversary, we stand at a defining moment—one that calls us to reflect on our remarkable journey, honour our heritage, and appreciate the contributions of past and present generations who have shaped our progress. This Golden Jubilee presents a unique opportunity to celebrate how far we have come while envisioning the brighter future that lies ahead.
91. The Golden Jubilee celebrations will inspire unity, pride, and a renewed sense of belonging among our citizens at home and in the diaspora. Through cultural showcases, educational programmes, and community-driven initiatives, the anniversary will connect generations, strengthen communal bonds, and encourage active participation in building a more prosperous, inclusive, and vibrant Ogun State for years to come.

HIGHLIGHTS OF THE 2026 KEY CAPITAL PROJECTS

92. Key physical capital projects in the 2026 Budget include:
93. Construction of about 450km of urban and rural roads across the State;
94. Ogun Light-Up Project, including generation, transmission, and distribution projects across the State;

iii. Construction and rehabilitation of blocks of classrooms and technical workshops across the State;

1. Construction of agro-processing facilities and Agricultural Transformation Centres;
2. Construction of new comprehensive healthcare facilities and renovation of State hospitals;
3. Purchase of laboratory and medical equipment for OOUTH;

vii. Renovation and upgrading of primary health centres, medical laboratories, and cold chain stores;

viii. Construction of an additional 3,000 units of affordable housing across the State, including infrastructure, site-and-services schemes, and the construction of Ibara GRA Phase II – 50 duplexes;

1. Construction of the New international terminal, apron and car park at the Gateway International Airport;
2. Construction of the Gateway International Conference, Convention and Exhibition Centre (CCEC) and adjoining hotel development as a signature MICE (Meetings, Incentives, Conferences, and Exhibitions) infrastructure project;
3. Construction of the State Pavilion;

xii. Upgrade of the Sagamu, Ijebu-Ode, and Ilaro stadia;

xiii. Take-off construction grant for the Federal Court of Appeal Complex, Abeokuta;

xiv. Revenue House for the Ogun State Internal Revenue Service;

1. 2,500-seater capacity State Banquet Hall;

xvi. Upgrade of the Governor’s Lodge, Abuja, and Government House, Abeokuta;

xvii. PPP projects for the construction of the Olokola Deep Sea Port, dairy farms, the worlds largest cotton factory set to employ over 250,000 people and producing over 1,000 tons of finished cotton products daily, and construction of a global standard theme park in efforts to boost tourism.

93. Our key allocations in the 2026 Budget, in line with functional classification, are as follows:

S/No.    SECTORS 2026 PROPOSALS

AMOUNT (N’B)              %

1            EDUCATION    275.40 17%

2            HEALTH             210.59 13%

3            HOUSING & COMMUNITY DEVELOPMENT    166.96 10%

4            AGRICULTURE AND INDUSTRY             40.54    2%

5            INFRASTRUCTURE       526.15 32%

6            RECREATION, CULTURE AND RELIGION           42.24    3%

7            SOCIAL PROTECTION 72.82    4%

8            GENERAL PUBLIC SERVICE – EXECUTIVE ORGAN         55.65    3%

9            GENERAL PUBLIC SERVICE – FINANCIAL & FISCAL AFFAIRS               52.30    3%

10          GENERAL PUBLIC SERVICE – GENERAL PERSONNEL SERVICE               3.86      0.2%

11          PUBLIC ORDER & SAFETY        36.00    2%

12          ECONOMIC AFFAIRS   7.45      0.4%

13          JUDICIARY       15.70    1%

14          LEGISLATURE 33.67    2%

15          STATEWIDE       129.67 8%

94. Ladies and gentlemen, while numbers shape the Budget, people are its heart. Every initiative and investment is ultimately aimed at improving lives and securing a brighter future for all residents.

CONCLUSION

95. Mr. Speaker and Honourable Members, as we look ahead 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.
96. We deeply appreciate the unwavering support of our Royal Fathers, elder statesmen, religious leaders, market stakeholders, youths, students, trade unions, security agencies, and public servants—whose dedication, discipline, and patriotism underpin the peace, progress, and stability of our beloved State.
97. As we present the Year 2026 Appropriation Bill, aptly titled the “Budget of Sustainable Legacy,” I trust that this Honourable House will ensure its timely consideration and passage. I hereby call on all Commissioners and Accounting Officers to defend their proposals with the highest standards of transparency and accountability, thereby guaranteeing effective implementation for the benefit of our people.
98. Despite prevailing economic challenges, our Administration remains steadfast in its commitment to building a strong and productive economy, empowering our citizens, and promoting inclusive development across all sectors. With faith, courage, and unity of purpose, we are well positioned to realise a more prosperous and vibrant future for the Gateway State.
99. With humility and a profound sense of duty, I hereby present the Year 2026 Appropriation Bill of Ogun State for your kind consideration and approval.
100. I thank you all for your attention, and may God continue to bless Ogun State.

Igbega Ipinle Ogun, ajose gbogbo wa ni.

H.E. Prince Dapo Abiodun, CON

Governor of Ogun State, Nigeria.

Wednesday, 3rd of December, 2025

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