Ogun Spends ₦17.98bn on Debt Service as First-Quarter Capital Spending Hits 2.28%

Ogun State paid ₦17.98 billion in debt charges between January and March 2026, according to its first-quarter budget execution figures. The amount represents about 18% of the state’s annual debt-service provision of roughly ₦99.98 billion. Capital spending during the same period stood at ₦23.75 billion, or 2.28% of the state’s ₦1.043 trillion capital budget. This was 73.43% lower than the approximately ₦89.39 billion recorded in the first quarter of 2025. Debt-service payments rose by 21.79% from about ₦14.77 billion in the first quarter of 2025, while total government spending fell from about ₦153.83 billion to ₦99.50 billion. The figures raise questions about the pace of project delivery and the loans responsible for the payments. The first-quarter figures alone do not prove wrongdoing or determine the final annual performance. Ogun residents will need clear records on the loans, projects, payments and completed infrastructure to assess whether public spending is delivering value.

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