Ogun Assembly Greenlights ₦300 Billion Funding for 2026 Budget, Medium-Term Plans, and Infrastructure Projects

In a decisive move to bolster the State’s Fiscal and Developmental Agenda, the Ogun State House of Assembly has approved a ₦300 billion funding request to support the 2026 Annual Budget, the 2026–2028 Medium Term Expenditure Framework (MTEF), as well as key long-term infrastructure projects and pension obligations.

The approval followed a detailed presentation by the Deputy Speaker, Hon. Bolanle Lateefat Ajayi, of the report from the Committee of the Whole titled “H.R. No. 157/OG/2025 – Request for Bond Issuance, Public Offering, Book Building, Private Placement or other methods of the tune of Three Hundred Billion Naira (₦300,000,000,000.00) towards the partial funding of the 2026 Annual Budget and the 2026-2028 MTEF”. The plenary was presided over by Speaker Rt Hon. Oludaisi Elemide at the Assembly Complex, Oke-Mosan, Abeokuta.

The report, which was unanimously endorsed by members of the Assembly, noted that the funding will cover the Governor’s strategic initiatives for the 2026 fiscal year, including medium-term budgetary plans, long-term infrastructure investments, and pension liabilities.

Following the presentation, Deputy Speaker Ajayi moved the motion for adoption of the report, which was seconded by Majority Leader Hon. Yusuf Sherif. Minority Leader Hon. Lukman Adeleye also supported the motion, and it was passed through a unanimous voice vote by all members present.

In his remarks, Speaker Elemide directed the Clerk and Head of Legislative Service, Mr. Sakiru Adebakin, to transmit clean copies of the resolution to the Governor and all relevant stakeholders, ensuring timely implementation of the approved funding.

This legislative action marks a critical step in Ogun State’s financial planning and infrastructure development, reinforcing the Government’s commitment to fiscal responsibility, social welfare, and long-term development objectives.