The Ogun State House of Assembly on Friday approved a N300 billion funding request to support the 2026 Annual Budget, the 2026–2028 Medium Term Expenditure Framework, other long-term infrastructural projects, as well as funding of long-term pension obligations.
Oyo Today reports that the approval followed the presentation of the report of 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 to the tune of N300bn towards the partial funding of the 2026 Annual Budget and the 2026–2028 MTEF.”
The report, presented by the Deputy Speaker, Bolanle Lateefat Ajayi, was approved during plenary presided over by Speaker Oludaisi Elemide at the Assembly Complex, Oke-Mosan, Abeokuta.
According to the report, the Assembly had considered and endorsed the governor’s request to fund the 2026 annual budget, the 2026–2028 MTEF, long-term infrastructure projects, and pension obligations.
The Deputy Speaker later moved the motion for the adoption of the report, which was seconded by the Majority Leader, Yusuf Sherif, who thereafter moved that the report become a resolution of the House. This was seconded by the Minority Leader, Lukman Adeleye, and supported by the entire House through a unanimous voice vote.
The Speaker thereafter directed the Clerk/Head of Legislative Service, Mr. Sakiru Adebakin, to send clean copies of the approval to the Governor and other relevant stakeholders.
About the Author
The analysis is useful when studying volatility and market momentum.
investment strategies