February 28, 2024

Ogun State Forecasts N240 Billion from IGR in the 2024 Budget

 

By: Shabach Bako

 

Ogun State targets N240 billion in Internally Generated Revenue (IGR) for the 2024 fiscal year, as unveiled by the Commissioner for Economic Planning and Finance, Mr. Dapo Okubadejo. This revelation came during a detailed budget breakdown and media briefing held in Abeokuta on Monday. The overall budget for the state in 2024 is N703 billion, already signed into law by Governor Dapo Abiodun.

 

Okubadejo emphasized that the budget aligns with Governor Abiodun’s commitment to excellent governance, a conducive environment for public-private partnerships, and sustainable economic development, all aimed at enhancing individual prosperity among the citizens. The administration’s focal points, including ease of doing business, institutional reforms, fiscal policy development, and the promotion of public-private partnerships, are designed to boost the state’s economy.

The commissioner highlighted that the budget is strategically structured around key pillars such as infrastructure, social welfare, education, human capital development, youth empowerment, job creation, agriculture, and food security. Ogun State is actively positioning itself as an industrialization, logistics, and knowledge hub, aspiring to become the most economically viable state in Nigeria and Africa.

 

Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, stressed the resilience and sustainability of the budget, aiming for economic and financial independence. The budget prioritizes internally generated revenue to allow for increased capital expenditure on infrastructural development.

 

Special Adviser to the governor on Media, Mr. Kayode Akinmade, highlighted the media briefing as a crucial platform for journalists to engage with decision-makers. The interaction aims to enhance public understanding of the state’s achievements and future plans in alignment with Governor Abiodun’s ISEYA mantra. Akinmade emphasized the administration’s commitment to various economic indices, showcasing achievements in ease of doing business, revenue generation, national growth, and industrialization.

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