Ogun targets N500 billion IGR for 2026 fiscal year 

Ogun State Sets Sights on N500 Billion IGR Breakthrough for 2026: Abiodun Charts Path to Economic Self-Sufficiency

By Sam Michael

In a defiant stand against Nigeria’s fiscal headwinds, Ogun State has unveiled a audacious blueprint to rake in N500 billion in Internally Generated Revenue (IGR) for 2026, a leap that could cement its status as the nation’s industrial powerhouse and slash reliance on federal allocations. Governor Dapo Abiodun’s charge, delivered amid soaring inflation and subsidy scars, isn’t just numbers on a ledger—it’s a rallying cry for innovation in Africa’s most dynamic gateway state, where factories hum and dreams of Lagos spill over the border.

The ambitious target emerged Tuesday, November 11, 2025, during a high-stakes Treasury Board meeting at the Obas Complex in Abeokuta, where Abiodun laid out the 2026-2028 Medium-Term Expenditure Framework (MTEF) and budget roadmap. “This State has no business generating less than N500 billion a year, and that has to be our target,” Abiodun declared, eyes fixed on a N750 billion haul by 2027—the twilight of his administration. He painted Ogun as the “jigsaw” where every ministry fits: Leveraging 16,000+ square kilometers of prime land, proximity to Lagos’ economic engine, and a factory belt that’s lured giants like Procter & Gamble and Nestlé.

Breaking it down, Abiodun tasked the Ogun State Internal Revenue Service (OGIRS) with shouldering N250 billion—half the pie—through streamlined collections and digital overhauls. The rest falls to heavy hitters: Ogun State Property and Investment Corporation (OPIC) for land deals, Bureau of Lands for titling efficiencies, Ministry of Education, Science and Technology for school fees and grants, and Ministry of Housing for urban levies. “Aim for the stars, and if we miss, we’ll at least land on the moon,” he quipped, slamming past regimes for squandering Ogun’s edge—its ability to offer what Lagos can’t: Space, incentives, and scalability.

This isn’t pie-in-the-sky; Ogun’s IGR has climbed from N117 billion in 2019 to a projected N300 billion-plus in 2025, buoyed by tax reforms and industrial booms. But challenges loom: Nigeria’s 34% inflation erodes gains, while federal FAAC shares—Ogun’s lifeline—dwindle amid oil volatility. Abiodun’s playbook? Creativity across MDAs, with urban renewal as a revenue rocket. He spotlighted the Kara-Isheri corridor’s “eyesore” status, vowing an inter-ministerial squad for enumeration, compensation, and relocation to unlock development potential. “We can’t leave it as an albatross for the next administration,” he said, tying beautification to investor appeal.

The push resonates beyond Abeokuta. On X, official handles like @OGSG_Official amplified the vision, racking up 59 likes and 25 reposts with photos of the meeting—framing it as “#OgunInProgress” and “#BuildingOurFutureTogether.” Enthusiasts echoed the optimism: One user hailed it as a “game-changer for economic independence,” while media outlets like New Telegraph shared breakdowns, sparking threads on how it could fund roads and schools. Skeptics, though sparse, questioned feasibility amid naira woes, but the governor’s track record—doubling IGR in six years—mutes the noise.

For U.S. readers with ties to Nigeria’s 400,000-strong diaspora—remittances hitting $25 billion yearly—this signals stability for investments in Ogun’s agro-processing and manufacturing belts. As Lagos chokes on congestion, Ogun’s land grab could draw American firms eyeing affordable expansion, mirroring Texas’ sprawl. Abiodun’s moonshot? It could redefine state finances, proving ambition trumps austerity in Africa’s growth story.

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