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Ondo State State
All States
South-WestCap: Akure

Ondo State .

Governor Lucky Aiyedatiwa
Pop. ~4.9M
PortalWebsite
Total 2024 Budget
₦387,000,000,000

Ondo State is a major oil-producing state in Nigeria's south-west, blessed with significant crude oil reserves offshore and onshore. The state is also a major producer of cocoa, timber, and bitumen, and is known as the Sunshine State.

Metrics Overview

Capital Exp.
₦202,000,000,000
52% of total
Recurrent Exp.
₦185,000,000,000
48% of total
Total Revenue
₦387,000,000,000
Estimated income
Fiscal Balance
Balanced
Income = Spending

Breakdowns

Infrastructure
₦98.0B25.3%
Education
₦88.0B22.7%
Health
₦72.0B18.6%
Agriculture
₦45.0B11.6%
Security
₦18.0B4.7%

Accountability Watch

Corruption & Fraud Tracker
Transparency ArchiveCase Record

Olusegun Mimiko

EFCC probe into N2bn state funds

Internal Record
Transparency ArchiveCase Record

Rotimi Akeredolu

Allegations of N4bn consultancy fee diversions

Internal Record
Transparency ArchiveCase Record

Local Govt Ghost Workers

Multi-million naira payroll fraud uncovering

Internal Record

Budget Insights

Key observations from Ondo State State's 2024 budget

Overview

Ondo State State's total budget for 2024 is ₦387.00 Billion. This budget is perfectly balanced.

Expenditure Focus

The largest single sector allocation is infrastructure, receiving ₦98.00 Billion. This accounts for 25.3% of the total budget.

Revenue Dependency

The primary source of revenue is faac, contributing ₦210.00 Billion. This represents 54.3% 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.

Balanced Budget

When a state's total revenue (income) exactly matches its total planned expenditure. It means the state isn't spending more than it makes.

Surplus

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