Ogun Targets N240bn IGR in 2024

James Sowole in Abeokuta

Ogun State Government yesterday announced that it would be targeting N240 billion as Internally Generated Revenue (IGR) out of the N703 billion budgeted for 2024 Fiscal year.

The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, disclosed this during a comprehensive budget breakdown and media parley held in Abeokuta, yesterday.

The state’s overall budget for the year is N703 billion, has already been signed into law by Governor Dapo Abiodun.

Okubadejo, said that the budget reflects the determined vision of Abiodun’s administration to foster best-in-class governance, create a conducive environment for public-private partnerships, and achieve sustainable economic development while enhancing individual prosperity among its citizen.

He emphasized that the administration’s focal points which includes the facilitation of ease of doing business, institutional reforms, development of fiscal policy thrust, and the promotion of public-private partnerships was geared at boosting the economy of the state.

He added that the budget was strategically structured around key development pillars, encompassing infrastructure, social welfare, education, human capital development, youth empowerment, job creation, agriculture, and food security.

“Ogun State is ambitiously positioning itself to become the hub for industrialisation, logistics, and knowledge—an aspiration integral to achieving the status of the most economically viable state in Nigeria and Africa and with its considerable land size, proximity advantages, ongoing industrialisation, and robust infrastructure, is actively creating an investor-friendly environment,” he said.

In his remarks, Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, emphasised the resilience and sustainability of the budget to ensure economic and financial independence for the state.

He noted that the budget would capitalise on IGR, which would give room for more capital expenditure for infrastructural development.

In his welcome address, the Special Adviser to the Governor on Media, Mr. Kayode Akinmade, highlighted the media parley as a crucial platform for journalists to engage with key decision-makers with the objective of enhancing public understanding of the state’s achievements and future plans, aligning with Governor Abiodun’s ISEYA mantra.

He underscored the administration’s commitment to various economic indices, citing achievements in ease of doing business, revenue generation, national growth, and industrialisation.

Akinmade, noted that the media interaction was poised to catalyse dialogue, transparency, and public awareness, contributing to the overarching goal of sustained growth and development in Ogun State.