The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, has projected that Ogun State intends to rake in N240 billion as Internally Generated Revenue in the 2024 financial year.
The commissioner, who made the projection during a budget breakdown and media parley held in Abeokuta on Monday, said that for the year, the state’s total budget stood at N703 billion which, he said, had been passed the House of Assembly and already signed into law by Governor Dapo Abiodun.
Okubadejo said that the budget reflected the determined vision of Governor 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.
The commissioner added that the budget is strategically structured around key development pillars, encompassing infrastructure, social welfare, education, human capital development, youth empowerment, job creation, agriculture, and food security.
He expatiated: “Ogun State is ambitiously positioning itself to become the hub for industrialization, 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 industrialization, and robust infrastructure, is actively creating an investor-friendly environment.”
In his remarks, Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, stressed the resilience and sustainability of the budget to ensure economic and financial independence for the state.
According to him, in the fiscal year 2024 the state government would prioritize internally generated revenue (IGR) in its revenue generation drive to enable the government have improved capital expenditure for infrastructure development.
In his welcome address, the Special Adviser to the governor on Media, Mr. Kayode Akinmade, explained that a media parley remained 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” governance mantra.
He underscored the administration’s commitment to various economic indices, citing achievements in ease of doing business, revenue generation, national growth, and industrialization.
Akinmade noted that the media interaction would catalyze dialogue, transparency, and public awareness, contributing to the overarching goal of sustainable growth and development of the state.
Photo Caption
L-R: Special Adviser to the Governor on Media, Mr. Kayode Akinmade, Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, Commissioner for Budget and Planning and Mr. Olaolu Olabimtan, during the year 2024 budget breakdown and media parley in Abeokuta, on Monday.
