January 01, (THEWILL) – Ogun State Governor, Dapo Abiodun, has signed the N1.054 trillion Appropriation Bill into law, marking a significant milestone in the state’s push for economic growth and infrastructure development, including the revival of the Olokola Sea Port project.
The budget, tagged “Budget of Hope and Prosperity,” earmarks N453.56 billion for recurrent expenditure and N600.98 billion for capital projects, reflecting the administration’s commitment to transformative governance.
Abiodun signed the bill at the Governor’s Office in Oke-Mosan, Abeokuta, on Monday, in the presence of the Speaker of the House of Assembly, Rt. Hon. Oludaisi Elemide; other principal officers of the Assembly; the Deputy Governor, Engr. Noimot Salako-Oyedele; and members of the State Executive Council.
Speaking at the event, the governor disclosed plans to finalise a partnership agreement next month with potential investors for the development of the Olokola Sea Port.
He highlighted the project as a key driver of economic growth and promised increased focus on basic infrastructure, renewable energy, agriculture, and other sectors aimed at boosting the state’s economy.
He said, “It is my pleasure to announce that in the coming month, we will sign a partnership agreement with potential investors for the development of the Olokola Sea Port. The Olokola Port is back on track.
“In 2025, we will also be signing more Memoranda of Understanding with private partners in renewable energy, energy transition, and agriculture, particularly animal husbandry. Our vision is to join the ranks of states producing beef and pork for both domestic consumption and export.
“We will continue to provide essential infrastructure, particularly roads, across every local government in Ogun State. Our administration remains committed to creating conducive learning environments for our students and advancing healthcare delivery across primary, secondary, and tertiary levels.
“Our policy on ‘grow what you eat and eat what you grow’ will also receive a more aggressive push as we prioritise agriculture for economic self-reliance.”
The governor also underscored the importance of critical road projects, including the Ijebu-Ode-Epe, Sagamu-Abeokuta, Atan-Lusada-Agbara, Ota-Abeokuta, and Ilaro-Owode roads, stating that they have improved the state’s Internally Generated Revenue through increased industrial and human activities.
Acknowledging the challenges posed by the economic reforms introduced by President Bola Ahmed Tinubu, Governor Abiodun assured residents of ongoing efforts to mitigate the impacts through targeted palliatives.
“Our President started his tenure with bold reforms that have had unintended consequences, but they are necessary to restore the country’s solvency. As a state, we’ve risen to the occasion by providing palliatives to cushion the effects and support our people during these trying times,” he said.
Abiodun also commended the State House of Assembly for the speedy passage of the budget, describing their collaboration with the executive arm as pivotal to the state’s progress.
In his remarks, Speaker Oludaisi Elemide lauded the governor’s efforts to revitalise the Assembly Complex and noted that the prompt passage of the budget was unprecedented, fulfilling the Assembly’s promise to the governor.
He said, “This is the first time in recent history that a budget has been passed before Christmas. Our lawmakers worked tirelessly to ensure this, demonstrating their commitment to the progress of Ogun State.
“We will continue to collaborate with the executive and judiciary to ensure the people of Ogun enjoy the dividends of democracy.”
The 2025 budget signals a renewed focus on infrastructure, economic growth, and sustainable development, positioning Ogun State for long-term prosperity.
