Governor Seyi Makinde presents the Oyo 2026 budget, outlining a bold ₦891.9bn plan focused on infrastructure, health, security, and sustainable state development.
Governor Seyi Makinde has formally presented the 2026 budget to the Oyo State House of Assembly, unveiling a bold ₦891.9 billion proposal aimed at strengthening the state’s development agenda and accelerating ongoing reforms.
The presentation, held at the Assembly complex in Ibadan, marked the seventh time the governor would submit an annual fiscal plan since assuming office.
His tone during the session reflected both confidence and determination, as he reaffirmed his commitment to economic stability, infrastructural expansion, and improved social services for residents.
Makinde explained that the Oyo 2026 budget was carefully crafted to consolidate progress achieved so far and ensure that previously initiated projects are completed without delays.
He emphasized that the proposed expenditure aligns with the state’s long-term growth strategy and responds to current economic realities.
According to him, the administration is committed to maintaining a balanced approach—one that promotes fiscal responsibility while still allowing room for ambitious development goals.
A key highlight of the budget is the clear distinction between recurrent and capital expenditures.
Recurrent spending for 2026 is projected at ₦389.3 billion, covering salaries, pensions, administrative responsibilities, and the management of ministries and agencies.
Makinde noted that although recurrent expenses remain significant, the administration continues to implement measures that enhance efficiency and reduce waste within the public service.
On the capital side, an impressive ₦502.64 billion has been proposed. The governor described this portion as the heart of the Oyo 2026 budget, representing his administration’s drive to deepen infrastructural renewal, expand public facilities, and support economic development across the state.
He stated that prioritizing capital investment is essential to creating jobs, stimulating commerce, and improving the daily lives of citizens.
Of the capital allocation, ₦210 billion has been earmarked for infrastructure alone. Makinde explained that this investment will target road construction, road rehabilitation, public buildings, transportation upgrades, and other major structural projects that connect communities.
He stressed that infrastructure has been one of the strongest pillars of his administration, contributing significantly to improved mobility and economic activity across Oyo State.
The health sector also features prominently in the budget, with a proposed ₦70.84 billion. The governor highlighted plans to upgrade hospitals, improve equipment, strengthen emergency services, and support the recruitment and training of health workers.
He said the state must continue building a resilient healthcare system capable of addressing both everyday needs and unforeseen challenges.
Agriculture, which remains vital to rural livelihoods and food security, has been allocated ₦19.9 billion.
Makinde reaffirmed the government’s commitment to supporting farmers with modern tools, extension services, and improved access to markets.
He explained that enhancing agricultural productivity is not only important for local consumption but also essential for positioning Oyo State as a competitive player in agro-processing and exports.
The remaining ₦435.91 billion will be distributed across key sectors including education, security, social welfare, and public service reforms.
The governor stressed that education remains one of the administration’s top priorities, noting that investments in school infrastructure, teacher training, and curriculum improvement will continue.
He added that security will also receive significant attention, as protecting lives and property is critical to sustaining development.
In his remarks during the presentation, the Speaker of the Oyo State House of Assembly, Hon. Adebo Ogundoyin, praised Governor Makinde for his consistency and transparency in budgeting.
He said the harmonious working relationship between the executive and legislative arms has contributed immensely to the progress witnessed across the state.
The speaker assured the governor that the Assembly would give the Oyo 2026 budget thorough and responsible scrutiny, ensuring that every provision aligns with the needs of the people.
Ogundoyin also expressed confidence that the proposed fiscal plan would strengthen governance and inspire further development.
He commended the administration for maintaining accountability and focusing on projects that directly impact communities, especially in rural areas where essential services are still evolving.
Governor Makinde, in his closing remarks, expressed gratitude to the Assembly for its cooperation over the years. He urged the legislators to expedite the approval process so that implementation could begin early in the fiscal year.
According to him, timely execution remains one of the administration’s key strengths, enabling Oyo State to stay ahead in infrastructure development and economic planning.
The total estimate of the fiscal proposal stands at ₦891,985,074,480.79—eight hundred and ninety-one billion, nine hundred and eighty-five million, seventy-four thousand, four hundred and eighty naira, seventy-nine kobo.
Makinde described the figure as realistic, balanced, and forward-looking. He expressed optimism that with prudent management and improved internally generated revenue, the state will meet its obligations without compromising financial stability.
Analysts describe the Oyo 2026 budget as a continuation of Makinde’s development-focused governance style. It blends continuity with innovation, combining the completion of existing projects with new initiatives that aim to unlock economic potential across the state.
If fully implemented, the plan is expected to reinforce Oyo’s position as one of Nigeria’s most steadily advancing states, with infrastructure, education, health, and agriculture serving as central pillars of growth.
Ireport247news
