Governor Dapo Abiodun of Ogun State has laid out an ambitious budget proposal for 2024, totaling N703.03 billion, aptly named the “Budget of Sustained Growth and Development.”
This represents a significant increase of N230.78 billion compared to the previous year’s budget of N472.250 billion.
Breaking down the proposed expenditure, the recurrent expenses are set at N287.37 billion, while capital projects account for N415.66 billion. The detailed allocation includes N95.05 billion for personnel costs, N27.35 billion for consolidated revenue, N59.09 billion for public debt charges, N105.88 billion for overhead costs, and a substantial N415.66 billion for capital expenditure.
Governor Abiodun highlighted key projects within the budget, notably the ‘Light up Ogun Project,’ focusing on the installation of transformers across the state to ensure uninterrupted power supply within the next 24 months. Additionally, Ogun State is poised to host the 2024 National Sports Festival and invest in significant road infrastructure, encompassing projects like the Lagos-Ota-Abeokuta expressway, Ofada-Owode road, and others.
The governor emphasized the extension of the Lagos Blue Line Metro Rail Project into Agbara and the Lagos Red Line Metro Rail Project to Ijoko and Ifo/Kajola, aligning with the multi-modal transport plan under the Lagos-Ogun Joint Development Commission initiative. Furthermore, he assured the construction of over 2,000 housing units in various strategic locations across the state.
In the sectoral breakdown, education takes the lead with an allocation of N109,219.62 billion, constituting 16% of the total budget, followed by health at N81,185.66 billion, accounting for 12%. Housing and community development receive N28,886.43 billion (4%), agriculture and industry N14,213.03 billion (2%), infrastructure N209,122.60 billion (30%), recreation and culture N22,872.69 billion (3%), social protection N28,692.08 billion (4%), and general public service – executive organ N31,125.49 billion (4%).
The judiciary is allocated N7,029.32 billion, representing 1% of the entire budget, while the legislature receives N14,412.07 billion, constituting 2%. Statewide projects are allotted N104,114.11 billion, comprising 15% of the budget, and general public service – financial and fiscal affairs receive N34,954.27 billion (5%). General public service and general personnel service are allocated N1,939.79 billion (0.3%), public order and safety N12,187.63 billion (2%), and economic affairs N3,083.22 billion (0.4%).
To ensure the swift approval of the 2024 Appropriation Bill, Governor Abiodun has directed key officials to personally partake in the budget defense. He formally presented the bill to the Speaker, Olakunle Oluomo, emphasizing its significance for the welfare of the people of Ogun State.
