Abeokuta: By ‘Sina ODUNTAN
Published, Monday, January 23, 2024
OGUN STATE COMMISSIONER FOR FINANCE AND CHIEF ECONOMIC ADVISER TO THE GOVERNOR at the presentation of 2024 budget breakdown at Olusegun Osoba Press Centre, Governor’s Office, Abeokuta on Monday, said Ogun State has been adjudged the fastest growing economy and second to Lagos State, the fifth largest economy in Africa.
Chief Dapo Okubadejo made this declaration while presenting his ‘Budget Overview and Economic Outlook for 2024 before his counterpart Commissioner for Budget, Hon. Olaolu Olabimtan presented his 2024 budget breakdown.
He was flanked by the State Commissioner for Budget and Planning, Olaolu Olabimtan, as well as the Special Adviser to the Governor on Media, Kayode Akinmade.
Also present at the press parley were Commissioner for Education, Science and Technology, Prof. Arigbabu, Commissioner for Health, Dr Tomi Coker, Commissioner for Agriculture, Hon Owotomo, Commissioner for Transport, and the Commissioner for Housing was represented by the Special Adviser to the Governor on Housing Hon. Tajudeen Egunjobi.
The Chief Economic Adviser to the Ogun State, while expressing his gratitude for the recent victory at the Supreme Court, acknowledged the importance of strong leadership provided by Governor Dapo Abiodun in achieving meaningful development. He highlighted the state's journey since 2019, outlining the aspirations, plans, and evolution of the budget within the context of Ogun State's economy.
Okubadejo addressed the global economic challenges, including inflation, energy disruption, Middle East conflicts, Hamas-Israeli War, Ukraine-Russia War, and the resurgence of COVID-19, emphasizing the interconnectedness of economies and their impacts on Ogun State. He stressed the need for resilience and strategies to shield the state's economy from these disruptions while leveraging competitive and comparative advantages.
Mr. Okubadejo discussed the importance of a medium-term perspective in budget planning, introducing the 2020 medium-term expenditure framework as a tool for adjusting and changing fundamental assumptions as needed. The economic objectives of the state were outlined, focusing on real sector growth, job creation, economic and food security, poverty eradication, and increased investments.
He emphasized the importance of reforming government institutions and creating a favourable environment for private sector investment. The ease of doing business and public-private sector partnerships were highlighted as critical components for economic growth and development.
He also highlighted the economic potential of Ogun State, emphasizing its proximity to Lagos and its significant industrial and economic development opportunities, expressing optimism that the foundation laid in 2020 is beginning to yield results and that the state's economic base will be strengthened despite global challenges.
The Chief Economic Adviser's 2024 budget overview demonstrated a comprehensive and detailed framework for economic growth, ensuring strategic plans are in place to achieve prosperity in Ogun State.
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