Ogun State Governor, Dapo Abiodun, on Monday, officially signed the 2025 Appropriation Bill into law.
This followed the recent passage of the bill by the State House of Assembly.
Earlier this month, Abiodun had presented a budget proposal totaling N1.054 trillion to the state House of Assembly for consideration.
The revenue breakdown includes an estimated N120.97 billion from the Ogun State Internal Revenue Service and N193.85 billion from other Ministries, Departments, and Agencies (MDAs), amounting to a total of N314.82 billion in internally generated revenue.
Tagged the “Budget of Hope and Prosperity,” the budget allocates N453.56 billion for recurrent expenditure and N600.98 billion for capital expenditure.
Statutory allocations from the Federal Government are projected at N228.06 billion, while capital receipts—including internal and external loans, grants, and aids—are estimated at N472.66 billion.
The signing ceremony, held at the Governor’s Office in Oke-Mosan, Abeokuta, was witnessed by the Speaker of the House of Assembly, Rt. Hon. Oludaisi Elemide, principal officers of the House, the Deputy Governor, and members of the State Executive Council.
Abiodun announced that his administration would, in the coming month, sign a partnership agreement with potential investors for the development of the Olokola Sea Port.
He also emphasized the government’s commitment to providing additional infrastructure through new Memoranda of Understanding (MoUs) with private sector players in renewable energy, agriculture, and other industries to boost the state’s economy.
He stated, “It is my pleasure to announce to you that in the coming month, we will be signing the partnership agreement with potential partners in our port development. The Olokola Port is back on track.
“In the coming year, you will see us signing more Memoranda of Understanding (MoU) with private players in the areas of renewable energy, energy transition, and agriculture, particularly animal husbandry. We intend to join the league of those producing beef and pork, not just for domestic consumption, but for export.
“We will continue to provide more infrastructure, particularly roads, in every local government in the State. We will continue in our stride to provide the right infrastructure and the right situation to ensure that students in Ogun State learn in a conducive environment. We will continue to pursue our healthcare program in primary health care, secondary, and tertiary, and of course, our policy on ‘grow what you eat and eat what you grow.’ We are going to be more aggressive in the area of agriculture.”
The governor reiterated his administration’s unwavering commitment to infrastructure development, which he said would foster socio-economic growth. He highlighted the importance of arterial roads like the Ijebu-Ode-Epe, Sagamu-Abeokuta, Atan-Lusada-Agbara, Ota-Abeokuta, and Ilaro-Owode roads, noting their role in improving the state’s Internally Generated Revenue by attracting more people and industries.
Acknowledging the challenges posed by President Bola Tinubu’s reforms, Abiodun expressed optimism about the future. He assured residents that his administration had taken steps to alleviate the difficulties through palliative measures designed to help them navigate the current economic situation.
“I want to assure you that we can only hope for more wins in the future. It has been a very difficult year for us all, not just as a state but as a country. Our President, Bola Ahmed Tinubu, started his tenure with very bold reforms that have resulted in some unintended consequences that we must all endure so that we can have a country that is solvent,” he added
Abiodun also commended the State Assembly for its swift passage of the Bill, praising their diligence, dedication to their constituents, and collaboration with the executive arm, which he said had facilitated the state’s growth.
In his remarks, the Speaker, Oludaisi Elemide, noted that the rapid passage of the Bill fulfilled the Assembly’s promise to the governor when it was presented on December 4.
He highlighted that this was the first time a budget bill had been passed before Christmas in the state’s history.
The Speaker also thanked the governor for upgrading the Assembly Complex, adding that members worked tirelessly to ensure the budget’s timely passage to sustain the state’s progress.