Governor Makinde presents N891.9bn 2026 budget to Oyo Assembly

By Adejayan Gbenga –

Governor Seyi Makinde on Monday presented a budget estimate of N891.9 billion for the 2026 fiscal year to the Oyo State House of Assembly. The budget, tagged ‘Budget of Economic Expansion’, aims to strengthen the state’s transition into a production-led economy.

The proposed estimate stands at N891,985,074,480.79, making it one of the largest in the state’s history. The presentation, held at the Assembly complex in Ibadan, was attended by prominent traditional rulers and government officials.

Makinde said the budget prioritises infrastructural development and education, which together take the largest share of the allocation. He explained that the two sectors are central to driving sustained economic growth in the state.

The governor disclosed that 56.3 percent of the total budget is allocated to capital projects, while 43.7 percent is set aside for recurrent expenditure. He noted that the emphasis on capital spending reflects his administration’s long-term development goals.

According to the breakdown, infrastructural development will receive N210.25 billion, representing 22.55 percent of the entire budget. The education sector is allocated N155.209 billion, accounting for 17.40 percent.

Makinde further stated that the health sector is earmarked for N70.848 billion (7.94 percent), while agriculture receives N19.98 billion, amounting to 2.24 percent of the total allocation. He said investments in these sectors will support social welfare and food security.

In his remarks, Speaker of the House, Adebo Ogundoyin, assured that the Assembly would ensure strict accountability in the management of all funds appropriated in the budget. He pledged that lawmakers would carry out thorough oversight to ensure projects are executed as planned.

Ogundoyin also affirmed that the proposed projects, if properly implemented, would positively impact the lives of residents and contribute to the overall development of Oyo State.