Oyo State Governor, Seyi Makinde, on Monday presented the 2026 Appropriation Bill to the State House of Assembly, unveiling a fiscal plan he described as a “Budget of Economic Expansion.”
Makinde said the proposal builds on the stabilisation gains of 2025 and is designed to accelerate Oyo’s transition into a production-driven and investment-ready economy.
Addressing lawmakers at the Assembly Complex, Agodi, Makinde announced a total budget size of ₦891.99 billion, with capital expenditure taking ₦502.8 billion (56.37%) and recurrent spending projected at ₦389.1 billion (43.63%). “We are edging closer to the ideal 60/40 ratio between capital and recurrent expenditure,” Makinde said, emphasising his administration’s focus on completing ongoing infrastructural projects and expanding key growth sectors.
Infrastructure received the largest allocation of ₦210.02 billion, followed by education with ₦155.2 billion, healthcare with ₦70.8 billion, and agriculture with ₦19.98 billion. Makinde highlighted recent milestones, such as the completion of Ibadan Central Bus Terminals 1 and 2, the upgrade of the Samuel Ladoke Akintola Airport to receive wide-bodied aircraft, and progress on agro-industrial hubs and free trade zones, as critical components of the state’s shift toward a modern, logistics-driven economy.
“Economic expansion means converting stability into opportunity, linking infrastructure, human capital and innovation,” the governor said. He noted that 2026 will also mark Oyo State’s 50th anniversary, themed “Renewal,” describing it as a moment to recommit to inclusive growth and long-term institutional reforms.
Makinde assured residents affected by ongoing development projects, particularly the Rashidi Ladoja Circular Road corridor, of fair compensation and humane engagement.
He reiterated his commitment to building a governance system rooted in transparency and strong institutions as the administration begins preparations for the 2027 transition.
“This is your government, and this next phase, Economic Expansion, is for you. We have not failed you in over six years; we will not fail you now,” Makinde pledged.
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