Okubadejo: Ogun IGR has Tripled from N50bn to N150bn

Ugo Aliogo

The Commissioner, for Finance and Chief Economic Adviser to Ogun State, Mr. Dapo Okubadejo, has revealed that the state’s Internally Generated Revenue (IGR) has almost tripled from N50 billion in 2020 to almost N150 billion in 2023, thereby ranking Ogun the 3rd in IGR in Nigeria.

He also disclosed that the Dapo Abiodun administration would soon be establishing the Kajola Dry Container Port to provide efficient and cost-effective operations, logistics and distribution for our manufacturing companies.

He disclosed that the Gateway International Airport would soon be ready for commissioned, adding that the airport is scheduled and non-scheduled cargo and passenger flights while the other zones within the Aerotropolis are currently being concessioned. 

He also stated that the state has initiated discussions with the Lagos State Government to extend their Blue line and Red line rail networks into the state.

Okubadejo, who disclosed this at the 2024 KPMG Alumni cocktail in Lagos, said with over 6000 industries and as the investors’ destination of choice, over 500 km of roads have been constructed, established six Economic Development Clusters (EDC).

The commissioner remarked that they consider the cluster strategy, as one of the most important developmental initiatives for African economies to engender cost optimization through infrastructure sharing and economies of scale. 

Okubadejo further explained that cluster strategy also lowers entry barriers for investors and encourages value chain development and processing of raw materials, two important measures for non-oil export growth.