Governor Seyi Makinde has presented a budget estimate of N891.9 billion for the 2026 fiscal year to the Oyo State House of Assembly for approval.
The total amount presented by the governor stands at N891,985,074.480.79.
The governor made the presentation on Monday at the Oyo State House of Assembly. Prominent traditional rulers in the state attended the budget presentation.
Makinde said infrastructural development and education sectors will take the lion share in the proposed budget.
According to him, the ‘Budget of economic expansion’ is aimed at positioning the state for a production-led economy.
He stated that 56.3 percent of the budget estimate will be spent on capital expenditure while recurrent expenditure will take 47.6 percent.
Also, infrastructural development will receive N210.25 billion, representing 22.55 percent of the total budget estimate while education receives N155.209 billion – 17.40 percent of the budget.
He added that the health and agriculture sectors will gulp N70.848 billion and N19.98 billion, respectively, representing 7.94 percent and 2.24 percent.
Speaker of the Assembly, Adebo Ogundoyin, assured that funds budgeted would be adequately accounted for.
Ogundoyin maintained that projects captured in the budget will have positive impacts on the lives of the residents of the state.
