By Ofem John Obongha, JKNewsMedia Reporter, Cross River
A RECENT ranking by BudgIT Research has placed Ogun among Nigeria’s most economically self-sufficient on “State of States Performance Index A,” making it to secure third place behind Rivers and Lagos.
Also, the assessment ranks states based on their economic independence, with Rivers and Lagos topping the list, followed by Ogun.
BudgIT’s index, published on its official website, measures states’ reliance on federal allocations.
Furthermore, states that perform higher on Index A are seen as more economically viable, with lower dependence on federal revenue, indicating they could sustain themselves if operating independently.
Rivers scored 0.82 and Lagos 0.84, while Ogun reached 1.48, reflecting its strengthening economic foundation.
The report aligns with recent findings from the National Bureau of Statistics (NBS), which listed Ogun as one of the states with the least reliance on revenue from the Federation Account.
This financial independence underscores Ogun’s progress toward sustaining its economy through locally generated revenue.
In response, Governor Dapo Abiodun expressed pride in the state’s achievement, attributing the progress to his administration’s fiscal policies.
Abiodun emphasized that since taking office, his government has prioritized initiatives to expand Ogun’s economic base, aiming for long-term sustainability.
“Our administration has been able to grow the economic base of the state to an enviable position where it no longer needs to rely too much on federal allocations,” Abiodun stated.
Governor Abiodun highlighted specific policy reforms that have contributed to the state’s revenue growth, focusing on enhancing local industries, attracting private investment, and improving infrastructure to create a favorable business environment.
His administration has also streamlined revenue collection processes and boosted transparency to make Ogun more financially resilient.
The governor’s commitment to reducing dependency on federal allocations aligns with Ogun’s strategic goals for economic autonomy and stability.
By expanding Ogun’s internal revenue generation, the state has positioned itself as a model of self-sufficiency among Nigerian states, setting a benchmark for others to follow.
This progress is seen as part of a broader initiative to secure economic resilience and meet development targets without over-relying on the Federation Account.
As Ogun State continues to enhance its revenue mechanisms, BudgIT’s recognition affirms the state’s efforts in fostering an independent, sustainable economy.
Furthermore, the new ranking further solidifies Ogun’s position as a leader in fiscal autonomy, demonstrating the impact of focused governance on achieving financial stability in Nigerian states.
