The Ogun State Commissioner for Finance, Mr Dapo Okubadejo, on Monday said the state projected to generate N240 billion as revenue in 2024.
Okubadejo, who disclosed this in Abeokuta while speaking with newsmen on the breakdown of the 2024 budget, explained that internally generated revenue remained a critical part that the state would use to fund critical development.
He added that the land resources would constitute a significant advantage of the state revenue.
Okubadejo stressed that the state was one of those in the country that depended less on federal allocation, saying that there was need for the state to be economically and financially independent.
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The commissioner stated that 2024 budget of over N703 billion would have a significant and positive effect on the people of the state with a reasonable performance.
“We have to be economically and financially independent as a state. The execution of the 2024 budget is critical to us.
“Our revenue in the state is increasing while our debt profile is decreasing. The debt is used to fund capital expenditure that will improve development of the state”, he said.
Okubadejo noted that the state remained one of the fastest growing economy in the country, adding that the economy needed to be more robust to achieve set goals.
Also, the Commissioner for Budget, Mr Olaolu Olabimtan, explained that the state would spend more on capital expenditure in 2024.
Olabimtan said that 71 percent of the budget would be towards developmental projects.
Speaking, the Commissioner for Works and Infrastructure, Mr Ade Adesanya explained that government was working with the Federal Ministry of Works to get more roads completed.
“This year, we are going to work towards completion of abandoned projects, ongoing projects, Gateway Agro Cargo Airport and other road projects including Agbara -Lusada-Atan road.
“Others are Ilaro-Owode, Sango-Ijoko-Agbado-Akute road among others. We are going to start witnessing a lot of commissioning soon”, he added.
