The Oyo State House of Assembly on Wednesday passed the 2026 Appropriation Bill into law, approving a total budget of ₦892,085,074,480.79.
The bill was passed after the House Committee on Finance, Appropriation and State Economic Planning had presented its report to the House.
Speaking after the passage, Deputy majority Leader of the House and Chairman of the Committee on Finance, Appropriation and State Economic Planning, Hon. Olasunkanmi Babalola, described the moment as “historic,” stressing the Assembly’s commitment to fiscal discipline, infrastructure development, and timely governance.
“It was a total exercise across all ministries, departments, and agencies. We identified areas where funds could be better utilized, leading to a strategic reallocation of ₦2 billion from overhead to capital expenditure.”
This adjustment, according to him reduced the overhead budget from ₦389 billion to ₦387 billion, while increasing capital expenditure to over ₦504 billion, signaling a deliberate shift toward developmental projects and long-term investments in the state’s infrastructure.
Hon. Babalola, who represents Egbeda State Constituency, assured citizens of the state that the 2026 budget, which he noted reflects the people’s priorities, will be used to deliver the dividends of democracy.
“We are the representatives of our people, and we are committed to ensuring that this budget translates into real impact across all constituencies. Our various House committees will embark on comprehensive oversight functions across all MDAs to ensure transparency and accountability.”
He stated that passage of the budget before the year ending has become a sustainable culture of the Assembly, driven by the desire to ensure that the government hits the ground running from the first day of the new year (January 1st).
“The national budget cycle runs from January to December. If we delay until February, we’re already behind. Our goal is a 24/7 budget that starts working from day one,” he explained.
Responding to recent concerns raised by Governor Seyi Makinde regarding indiscriminate waste disposal, Hon. Babalola confirmed that the Ministry of Environment and Natural Resources was a key beneficiary of the 2026 budget, pledging that the committee on environment will decisively address the problem in the New Year.
“Through the Committee on Environment, we will ensure that waste management and environmental sustainability are addressed effectively in 2026. Our role is to ensure a transparent and accountable budget that meets the needs of our people.”