Ogun Positioned to be Hub for Industries, Logistics, Says Finance Commissioner

James Sowole in Abeokuta

Resultant economic indices from various policies put in place since the Ogun State  Governor, Dapo Abiodun, came to office in 2019, have shown that the state has been positioned to be the model for industries, logistics,  knowledge and innovation.

The state Commissioner for Finance and the Chief  Economic Adviser to Governor  Abiodun, Dapo Okubadejo, stated this at the 2024 Appropriation Bill breakdown to journalists  at a news conference.

The conference, held at the Olusegun  Osoba Press Centre in Oke Mosan, Abeokuta, featured presentation  of provisions of 2024 Budget christened: ‘Budget of Sustained Growth and Development’, as signed by the governor.

The 2024 Budget of N703 billion made provisions for N415.6 billion as Capital Expenditure while N287.3 billion was set aside for Recurrent Expenditure.

While the state Commissioner  for Budget and Planning, Mr. Olaolu Olabimtan, presented provisions of the budget, the Commissioner for Health, Dr. Tomi Coker; Commissioner for  Transport, Mr. Gbenga Dairo; Commissioner for Works, Mr. Ade Akinsanya; Commissioner for Agriculture,  Bolu Owotomo, and commissioner for Education, Science and Technology gave summary of their respective ministry as contained in the budget.

Okubadejo said the Abiodun administration had been working in line with the Medium Term Economic Framework (MTEF), developed in 2020.

He said the government has continued to create enabling environment that made the state the most preferred investment destination in the country and which earned the state the status as the ‘Most Improved Economy in 2023’.

Okubadejo said the state is taking the advantage of its nearness to Lagos to work on extension of Lagos Red and Blue Rail Lines to Ogun border town, while the Gateway International Airport remains a model, and already attracting investment.

He said the deliberate policies of the Governor Abiodun’s administration has also led to the state being declared as the most viable economy in the country.

According to him, “The state had been recording steady growth, which has been resulting in appreciable increase in the state’s budget size and performances and which made the state budget to be in fifth position in the country.”

He said the state’s 2024 Budget of N703 billion was a tremendous increase compared to the 2023 figure of N472 billion, adding that last year budget performance was 78 per cent by December 2023.

Okubadejo said the state  target was to be economically and financially independent by de-emphasising reliance on monthly federal allocation, which cannot be predicted since the state has no control on it.

He said the government is expecting N240 billion as Internally Generated Revenue in 2024.

Presenting summary of what is expected of his ministry, the Commissioner for Works and Infrastructure,  Mr. Ade Akinsanya, said the government would resuscitate some of the abandoned road projects while ongoing ones would be completed.

Akinsanya, who specifically mentioned some of the major road projects that would be constructed, added that the 20 local government areas in the state, would benefit from road projects.