Seyi Makinde, the executive governor of Oyo state, has submitted a total of ₦678.06 billion (N678, 068 767 332.18) to the Oyo state House of Assembly for approval and legislative consideration in the 2025 budget.
The budget’s capital expenditures account for 51 percent of the entire budget, while recurrent expenditures make up 49 percent.
Governor Makinde referred to the 2025 budget as the “Budget of Economic Stabilization” in his remarks before to the presentation on Wednesday, November 13.
N343 billion, or 50.59 percent of the entire budget, was allocated for capital expenditures, while N335 billion, or 49.4 percent, was allocated for recurring expenditures, according to the budget estimate.
According to Makinde, the state’s infrastructure development has been allocated N152 billion, accounting for the highest portion of the budget (22.4 percent).
A total of N145 billion, or 21% of the budget, was also allocated to education. Nine percent, or N59 billion, went to health, while three percent, or N18 billion, went to agriculture.
The budget proposal for 2025, the governor said, is a 35 percent increase over 2024.
