By Ofem John, JkNewsMedia Intern, Cross River State
THE OGUN State Government has set a N500 billion Internally Generated Revenue (IGR) target for the 2026 fiscal year to strengthen its financial base and accelerate infrastructural and social development across the state.
Governor Dapo Abiodun announced the target 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.
He explained that Ogun’s strategic location as Nigeria’s industrial hub and its close proximity to Lagos State must be fully utilised to expand the state’s revenue profile.
The governor emphasised that the Ogun State Internal Revenue Service (OGIRS) would contribute N250 billion out of the total N500 billion targets, while other key agencies were expected to complement the effort.
“This State has no business generating less than N500 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 N750 billion. That is what ambition looks and feels like.”
The governor said the target reflected his administration’s renewed focus on fiscal efficiency, prudent management, and the drive to make Ogun financially self-sustaining.
He charged all Ministries, Departments, and Agencies (MDAs) to intensify efforts in improving their revenue base and adopt innovative approaches to block leakages.
Abiodun described each MDA as a vital component in the broader plan to realise the vision of a more economically robust Ogun State.
“Every MDA is a piece of the 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 stated.
He directed revenue-generating agencies, including the Ogun State Property and Investment Corporation (OPIC), the Bureau of Lands, the Ministry of Education, Science and Technology, and the Ministry of Housing, to enhance their operations and adopt modern strategies to meet their individual targets.
Abiodun reaffirmed that his administration would continue to support all agencies through policy reforms, digitalisation of processes, and effective monitoring systems to ensure transparency and accountability in revenue collection.
He commended agencies that had recorded progress in their internally generated revenue and urged others to emulate their innovative practices.
The governor noted that Ogun’s economic strength lay not only in its industrial capacity but also in its growing agricultural, housing, and service sectors, which would be leveraged in the coming fiscal year.
Addressing the ongoing urban renewal initiative, the governor reiterated his commitment to the redevelopment of the Kara-Isheri axis, which he described as a priority for his administration.
According to him, the area’s current state does not reflect the vision of the new Ogun State being built under his leadership.
“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,” Abiodun said.
He disclosed that an inter-ministerial team had been constituted to handle all aspects of the Kara redevelopment process, including enumeration, compensation, and relocation.
The team comprises officials from the Ministries of Environment, Physical Planning and Urban Development, the Bureau of Lands, and other relevant agencies.
The governor assured affected residents and business owners that the exercise would be conducted in a fair and transparent manner, with adequate compensation for all legitimate stakeholders.
He emphasised that the initiative formed part of the state’s long-term urban transformation agenda aimed at improving aesthetics, traffic flow, and environmental health across major gateways into the state.
Abiodun stated that the Kara-Isheri redevelopment would complement other infrastructure projects already ongoing across Ogun, including road expansion works, housing estates, and industrial corridor development.
He said these efforts would not only enhance the state’s appeal to investors but also contribute significantly to the new IGR target.
The governor also reiterated his administration’s commitment to the principles of financial sustainability, transparency, and inclusive growth.
He added that the 2026–2028 MTEF would serve as a strategic framework to align all budgetary decisions with the broader economic objectives of the state.
“Our goal is simple: to make Ogun one of the most prosperous and self-reliant states in Nigeria. We are not waiting for federal allocations before we execute our plans.
“We are building a system that funds itself through efficiency, innovation, and the collective effort of every agency,” he noted.
Governor Abiodun further highlighted that the state government would continue to improve its business environment, streamline taxation processes, and enhance collaboration with the private sector to sustain growth.
He reaffirmed that the administration’s fiscal policies would prioritise job creation, human capital development, and infrastructure renewal.
The 2026–2028 Medium-Term Expenditure Framework, according to the governor, provides the fiscal direction for the next three years, ensuring that all expenditures are aligned with the government’s development agenda.
He said the framework and the 2026 Budget would serve as a tool to deepen reforms in the state’s financial management, sustain infrastructure delivery, and boost productivity across all sectors.
Governor Abiodun concluded by expressing confidence that with collective commitment from all government agencies and stakeholders, the N500 billion IGR target for 2026 would be achieved.
He assured that the administration remained focused on delivering measurable outcomes that would reflect in the lives of Ogun residents.
