The Ogun State Government has set an ambitious target of generating ₦500 billion in Internally Generated Revenue (IGR) for the 2026 fiscal year, as part of its plan to strengthen economic independence and sustainability.
Governor Dapo Abiodun made this known during the Treasury Board meeting on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the 2026 budget session held in Abeokuta, the state capital. “We have set an ambitious target of generating ₦500 billion in Internally Generated Revenue to finance the 2026 fiscal year, as part of our drive to build a stronger and more self-sustaining Ogun State,” Abiodun said.
Governor Abiodun explained that his administration’s long-term goal is to grow Ogun’s annual IGR to ₦750 billion by 2027, in line with its vision of transforming the state into Nigeria’s most competitive subnational economy.
He said the projection is achievable given Ogun’s status as an industrial hub and its strategic proximity to Lagos, supported by its 16,000-square-kilometre landmass. “Ogun must leverage its proximity to Lagos and its vast landmass to achieve this target,” the governor said. “Our comparative advantage must be fully harnessed to provide what Lagos cannot offer. Innovation, efficiency, and accountability will guide us as we strengthen our economic base.”
To achieve the ₦500 billion target, Abiodun directed the Ogun State Internal Revenue Service (OGIRS) to contribute at least ₦250 billion, while other key agencies, including the Ogun Property Investment Corporation (OPIC), the Bureau of Lands, and the Ministries of Education, Science and Technology, and Housing, are expected to deliver significant portions.
The governor charged all Ministries, Departments, and Agencies (MDAs) to prepare “bold, creative, and ambitious” revenue strategies aligned with their operational strengths.
He emphasised that the 2026 budget will focus on innovation-driven governance, fiscal discipline, and sustainable growth, adding that every agency must play an active role in achieving the state’s fiscal vision.
Beyond revenue generation, the governor highlighted plans for large-scale urban renewal and infrastructure transformation, starting with the regeneration of Kara, near Isheri, one of Ogun’s busiest gateways. “In the same spirit of transformation, we are addressing the urban renewal of Kara, near Isheri, to give that corridor a new look befitting the Gateway State,” Abiodun said.
An inter-ministerial committee has been set up to oversee the project, ensuring that enumeration, compensation, and relocation processes are handled transparently and humanely.
Abiodun reiterated his administration’s commitment to building a prosperous, modern, and resilient Ogun State anchored on innovation, discipline, and economic inclusion. “We remain focused on building a prosperous, modern Ogun State, one that reflects the ambition, discipline, and resilience of its people,” he affirmed.
