Ogun needs governor who understands public finance — W’Bank consultant

Ogun State is poised for significant economic development, driven by existing extraordinary assets that require astute leadership to unlock, according to Luqmon Oladele, a World Bank Group consultant. He highlighted recent developments including the commissioning of the Gateway International Agro-Cargo Airport, the rebranding of the Olokola Deep Seaport to Blue Marine Economic Zone, and approval for commercial oil drilling.

“

This is not a state limping toward 2027. Ogun is a state with existing extraordinary assets waiting to be unlocked with good governance and technical expertise.

Oladele noted that the state's internally generated revenue has seen a dramatic increase, rising from approximately N50.6 billion in 2020 to N194.93 billion in 2024, positioning it fourth nationally. Furthermore, Ogun hosts over a gigawatt of installed gas-fired power generation, though it operates below capacity due to gas supply issues. These factors indicate a state with substantial potential, not one struggling economically.

To harness this potential, Oladele stressed that the next governor must possess three key attributes. Firstly, a fluent understanding of public finance is crucial, especially given the state's debt of roughly N494 billion and a projected N1.67 trillion budget for 2026. Managing this ambition without triggering a debt crisis requires financial discipline.

“

First, the language of public finance, fluently. State debt is roughly N494bn; the 2026 budget is N1.67tn, a 58.3 per cent jump over 2025. Converting that ambition into delivered projects without a debt crisis is a discipline, not an instinct.

Secondly, the governor must be adept at securing federal resources. Key industrial and logistics projects, such as the Gateway Airport, Olokola Port, and Kajola Inland Dry Port, depend on federal decisions regarding rail links, roads, customs zones, and port concessions. The governor needs the influence to engage effectively with federal ministers and the President.

“

Second, the ability to move federal resources into Ogun’s pipeline. The Industrial-Logistics Trinity, Gateway Airport, Olokola Port, Kajola Inland Dry Port, depends on federal-tier decisions: rail spurs, trunk roads, customs zone designations, and port concessions. Ogun cannot finance these alone.

Thirdly, a consolidator's mindset is essential. Oladele praised Governor Dapo Abiodun for laying foundations like the airport and numerous housing units. A successor who disrupts these existing projects risks wasting valuable time. Oladele publicly supports Senator Olamilekan Adeola, citing his financial expertise and alignment with these critical requirements for Ogun's future leadership.

“

Third, a consolidator’s mindset. Governor Dapo Abiodun has built foundations: the airport, 140 primary health centres, 7,000 housing units, and fourfold IGR growth. A successor who redirects or bulldozes each of these will burn his first 18 months before building anything new.