South-WestCap: Abeokuta

Ogun State .

Governor Dapo Abiodun

Pop. ~5.9M

Total 2024 Budget

₦555,000,000,000

Ogun State is the gateway state of Nigeria, renowned for its large concentration of industrial estates and manufacturing plants. Bordering Lagos, it benefits enormously from proximity to Nigeria's commercial hub and has one of the highest industrial concentrations in West Africa.

Metrics Overview

Capital Exp.

₦335,000,000,000

60% of total

Recurrent Exp.

₦220,000,000,000

40% of total

Total Revenue

₦555,000,000,000

Estimated income

Fiscal Balance

Balanced

Matched

Breakdowns

Infrastructure

₦145.0B26.1%

Education

₦120.0B21.6%

Health

₦85.0B15.3%

Agriculture

₦55.0B9.9%

Security

₦25.0B4.5%

Budget Insights

Key observations from Ogun State State's 2024 budget

Overview

Ogun State State's total budget for 2024 is ₦555.00 Billion. This budget is perfectly balanced.

Expenditure Focus

The largest single sector allocation is infrastructure, receiving ₦145.00 Billion. This accounts for 26.1% of the total budget.

Revenue Dependency

The primary source of revenue is faac, contributing ₦210.00 Billion. This represents 37.8% of the total expected revenue.

Glossary

Common budget terms explained

IGR

Internally Generated Revenue. Money collected by the state internally (taxes, fines).

FAAC

Federation Account Allocation Committee. Funds distributed from the federal government.

Capital Exp.

Money spent on long-term physical assets like roads, schools, and hospitals.

Recurrent Exp.

Money spent on day-to-day operations like salaries and overhead costs.

Deficit

When a state plans to spend more money than it expects to collect in revenue.