*A state budget in Nigeria is a statement of intent, not a record of spending. The number signed in December is routinely revised mid-year and rarely implemented above 70% on the capital side. Read the figures below as the size of the claim, and the IGR line as the size of what the state can raise without Abuja.*
The numbers#
- 2025 approved budget: ₦1.054 trillion (signed 30 December 2024)
- 2026 approved budget: ₦1.669 trillion (signed 31 December 2025)
- Internally generated revenue (2023, the latest NBS state-level IGR report): ₦146.88 billion (₦71.68bn tax, ₦75.20bn MDA revenue)
- Debt stock (31 December 2025, provisional): ₦227,467,532,434.53 domestic plus US$216,999,241.83 external
Note#
Ogun is second only to Lagos in the South-West on internally generated revenue, a consequence of the industrial corridor along the Lagos boundary rather than of allocation. The monthly Federation Account receipt is omitted: no per-state line from a primary release was confirmed in this pass.
References
Sources#
- Ogun State Government, 2025 and 2026 Appropriation Laws (signing releases, 30 December 2024 and 31 December 2025)
- National Bureau of Statistics, Internally Generated Revenue at State Level (2023), published October 2024
- Debt Management Office, States and FCT Domestic and External Debt Stock as at 31 December 2025 (provisional)