Abiodun presents N1.54tn budget, plans railways
Posted by Oyinlola on December 5, 2024
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Ogun State Governor, Dapo Abiodun, on Wednesday, presented a budget of N1,054,542,020,147.47 for the 2025 fiscal year to the state House of Assembly.
The budget proposal includes plans for extensive rail infrastructure, including the construction of the Red Line Metro rail extension from Agbado to Kajola, the Blue Line metro rail extension from Okokomaiko to Agbara/Lusada, and the Purple Line metro rail line connecting Mowe to Iperu, which will integrate with Lagos State’s rail network.
Prior to the budget presentation, Governor Abiodun inaugurated the newly redesigned Assembly complex, which had stood for over 45 years.
In his speech, Abiodun outlined the state’s revenue projections, which include N120.97bn from the Ogun State Internal Revenue Service, N193.85bn from Ministries, Departments, and Agencies, totalling N314.82bn in domestic revenue. Statutory allocations from the Federal Government are expected to amount to N228.06bn, while capital receipts, which include loans and grants, are projected to be N472.66bn.
The governor provided a sectoral breakdown of the proposed budget, highlighting that the education sector will receive N177.835bn (17%), the health sector N134.538bn (13%), housing and community development N66.382bn (6%), and agriculture/industry N65.38bn (6%). Infrastructure development will account for N284.4bn (27%) of the budget, while N25.27bn (2%) is allocated to recreation, culture, and religion.
Abiodun emphasised that the 2025 budget, titled “Budget of Hope and Prosperity,” was designed to stimulate economic growth, reduce inequality, and improve the welfare of the state’s citizens.
The Speaker of the Assembly, Daisi Elemide, commended the governor for his governance initiatives.
He called for the financial autonomy of the state legislature to improve its constitutional duties and also praised the improved welfare for lawmakers’ staff, while requesting more initiatives to enhance their working conditions.
Dignitaries present at the event included Deputy Governor, Mrs. Noimot Salako-Oyedele, Secretary to the State Government, Mr. Tokunbo Talabi, former deputy governors, Gbenga Kaka; Head of Service, Kehinde Onasanya Yetunde Onanuga, and several traditional rulers.
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