Oyo state governor, Engr. Seyi Makinde on Monday presented the sum of N891billion to the state house of assembly as a budget estimate for the year 2026.
Speaking during the presentation, Governor Makinde said 542 billion Naira, which represents 56.4 percent of the budget tagged “Budget Of Economic Expansion”, will serve as Capital expenditure, while 389 billion naira, representing 46.4 percent, is budgeted for recurrent expenditure.
He noted further that 210 Billion naira (23.5%), will be expended on infrastructural development across the state, Education takes 155 billion (17.4%), Health takes 70 billion (7.9%) while 19 billion (2.24%) will go into Agriculture.
The governor maintained that the budget will convert economic stability into opportunities, linking infrastructure and human capital designed to make Oyo state business and logistics hub in the southwestern part of the country.
He expressed optimism that it will also Open the state to global logistics and tourism, stabilizing the economy, create jobs and boost businesses
The governor added that the state’s African continental free trade area initiative, Oluyole free trade zone, special agro processing zone, upgrade of Samuel Akinola airport to international standard, circular road, regional connectivity to key commercial hub, will take Oyo state to global space.
Reacting, speaker of the house, Adebo Ogundoyin promised that the assembly will work with the executive to ensure budget performance and ensure that every Naira is accounted for.
Dignitaries in attendance included the former deputy governors of Oyo state, Barr. Asheem Gbolarumi, Ambassador Taofeek Arapaja, now PDP National Secretary, Olubadan of Ibadanland, Oba Rashidi Ladoja, Alaafin of Oyo, Oba Akeem Owoade, government functionaries among others.
