Ogun State Sets Ambitious ₦500bn Revenue Target for 2026 Budget

The Ogun State Government has unveiled a bold plan to generate ₦500 billion in Internally Generated Revenue (IGR) to underpin its 2026 fiscal budget, signaling a determined effort to boost fiscal independence and economic growth.

Governor Dapo Abiodun made the declaration during the Treasury Board meeting for the 2026–2028 Medium-Term Expenditure Framework (MTEF) and 2026 budget preparation at the Obas Complex in Abeokuta. The governor emphasized Ogun State’s critical role as Nigeria’s industrial hub, highlighting its strategic location adjacent to Lagos—the country’s economic powerhouse—and its expansive landmass exceeding 16,000 square kilometers as key advantages in hitting the ambitious revenue target.

He asserted, “This state has no business generating less than ₦500 billion annually, and that must be our benchmark.” Furthermore, he projected that by the end of his tenure in 2027, Ogun’s revenue should rise to approximately ₦750 billion—an ambitious goal reflecting the administration’s vision of sustainable growth.

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The governor tasked the Ogun State Internal Revenue Service (OGIRS) with raising ₦250 billion, half of the overall target. Other agencies, including the Ogun State Property and Investment Corporation (OPIC), the Bureau of Lands, and the Ministries of Education, Science and Technology, and Housing were also urged to intensify their revenue-generating efforts.

Abiodun encouraged all Ministries, Departments, and Agencies (MDAs) to function as interconnected pieces of a larger economic puzzle, insisting they adopt innovation and creativity in their revenue mobilization activities. He dismissed any sense of caution, urging MDAs to “aim for the stars,” assuring that falling short would still result in substantial progress.

On infrastructure, the governor reiterated his commitment to urban renewal, specifically addressing the dilapidated Kara area near Isheri. A collaborative inter-ministerial team has been established to manage the enumeration, compensation, and relocation needed for the area’s redevelopment, which he described as vital to the state’s new image.

This revenue-driven budget strategy aligns with Ogun’s broader developmental agenda, encompassing infrastructure enhancement, education, healthcare, and job creation, as articulated during recent public consultations and reflected in the state’s Economic Development Plans.