The Ogun State Government has set its sights on generating ₦500 billion in Internally Generated Revenue (IGR) to finance the 2026 fiscal year, in what Governor Dapo Abiodun described as a bold step toward financial independence and sustainable growth.
Speaking during the Treasury Board meeting on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the 2026 Budget, held at the Obas Complex, Oke-Mosan, Abeokuta, Abiodun charged all Ministries, Departments and Agencies (MDAs) to embrace creativity and innovation in boosting the state’s revenue base.
“This State has no business generating less than ₦500 billion a year, and that has to be our target,” Abiodun declared. “By the time we are leaving in 2027, Ogun State’s revenue should rise to about ₦750 billion. That is what ambition looks and feels like.”
He explained that Ogun’s strategic proximity to Lagos the nation’s economic powerhouse and its vast landmass of over 16,000 square kilometres present unmatched opportunities for industrial and commercial expansion.
The governor directed the Ogun State Internal Revenue Service (OGIRS) to contribute ₦250 billion of the total revenue projection, while other major agencies, including the Ogun State Property and Investment Corporation (OPIC), Bureau of Lands, Ministry of Education, Science and Technology, and the Ministry of Housing, were tasked to intensify their efforts.
Abiodun emphasized that achieving the ₦500 billion target would require collective commitment, describing each agency as “a piece of a jigsaw that must fit together to complete the bigger picture.”
“Our comparative advantage was not fully harnessed by previous administrations. Our strength lies in providing what Lagos cannot offer. I expect every MDA to prepare an ambitious budget aim for the stars, and if we miss, we’ll at least land on the moon,” he said.
The governor also reaffirmed his administration’s commitment to urban renewal, noting plans to redevelop the Kara-Isheri axis to improve the state’s gateway appearance.
“The new Ogun State cannot allow that place to continue to wear that look. You cannot be entering the new Ogun State and what you see first is an eyesore. There is no better time to act than now we can’t leave it as an albatross for the next administration,” he said.
