A budget estimate of N891.9 billion for the 2026 fiscal year has been submitted to the Oyo State House of Assembly by Governor Seyi Makinde for approval.
The governor’s total presentation amount is N891,985,074.480.79.
On Monday, the governor gave a speech before the Oyo State House of Assembly. The budget presentation was attended by prominent traditional rulers in the state.
According to Makinde, the majority of the planned budget will go into the areas of education and infrastructure development.
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He claims that the goal of the “Budget of economic expansion” is to set up the government for a production-led economy.
According to him, recurring expenses would account for 47.6% of the budget estimate, while capital expenditures will account for 56.3%.
Additionally, education would receive N155.209 billion, or 17.40 percent of the entire budget projection, while infrastructure development will receive N210.25 billion, or 22.55 percent.
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He further stated that N70.848 billion and N19.98 billion, or 7.94 percent and 2.24 percent, respectively, will be absorbed by the health and agriculture sectors.
Adebo Ogundoyin, the Assembly’s Speaker, promised that budgeted funds will be appropriately accounted for.
According to Ogundoyin, projects included in the budget will improve the lives of the state’s citizens.
