Ibadan – OYO STATE Governor, Engr. Seyi Makinde, has presented a proposed N1.115 trillion budget for the 2027 fiscal year to the State House of Assembly, earmarking N670.3 billion for capital expenditure.
The budget, tagged “Budget of Sustained Progress”, is the final annual appropriation bill to be presented by Makinde, whose second term in office is expected to end in 2027.
Makinde presented the estimates on Tuesday during a special plenary session at the Parliament Building, Secretariat, Ibadan.
The proposal, which stands at N1,115,341,378,359.90, provides approximately N670.3 billion for capital expenditure, representing about 60 per cent of the total estimates, while recurrent expenditure is projected at N445.3 billion, representing approximately 40 per cent.
A breakdown of the proposed expenditure shows that infrastructure has the largest sectoral allocation of N236.1 billion, representing 21.1 per cent of the total budget.
Education is allocated N190.5 billion, representing 17.08 per cent, while the health sector is to receive N93.1 billion, accounting for 8.34 per cent.
The allocations place infrastructure, education and healthcare among the major spending priorities in the state’s proposed 2027 fiscal plan.
The presentation marks the final budget cycle of the Makinde administration, which is expected to hand over to a new government on May 29, 2027.
Recall that at a stakeholders’ consultation on the 2027 budget held in October, Makinde had indicated that his administration expected to implement at most 30 per cent of the proposed budget before leaving office.
He had also emphasised the importance of sustaining infrastructure investments and ensuring that the state’s development programmes continued beyond his administration.
The governor stressed the need for prudent financial management to maintain the reforms and infrastructure established by his government. He also defended the administration’s tractorisation policy and its decision to privatise tractor services as part of efforts to improve agricultural productivity.
Speaking at Tuesday’s presentation, the Speaker of the House, Adebo Ogundoyin, described the occasion as significant, noting that it marked the final budget cycle of the Makinde administration.
Ogundoyin recalled that the first budget of the administration’s second term, tagged Omituntun 2.0, was presented to the Assembly on December 5, 2023.
He said the 2027 budget provided an opportunity to consolidate the administration’s achievements, sustain ongoing development programmes and strengthen the foundation for sustainable growth in the state.
The Speaker listed infrastructure, education, healthcare, agriculture, security and workers’ welfare among the sectors that had received attention under the present administration.
He disclosed that the 10th Assembly, inaugurated in June 2023, had passed 41 bills into law, considered 146 committee reports and 184 motions, and adopted more than 1,500 resolutions on issues relating to the welfare, security and development of the state.
According to him, the House also organised 11 major public hearings and stakeholders’ engagements to promote participatory lawmaking.
Some of the legislative proposals considered by the Assembly include the Oyo State Real Properties Protection Bill, Presumptive Tax Bill, Consumer Protection Agency Bill, Oyo State Roads Fund Bill and Single-Use Plastics Prohibition Bill.
Ogundoyin also identified the establishment of the Post-Legislative Scrutiny (PLS) Unit in January 2025 as one of the major institutional achievements of the 10th Assembly.
He said the Oyo Assembly became the first state legislature in Nigeria to establish a dedicated unit for post-legislative scrutiny.
The unit, he said, had examined the Oyo State Open Rearing and Grazing Regulation Law, 2019, and the Oyo State Security Network Agency Law, 2020, to assess their implementation and identify challenges.
He added that recommendations from the scrutiny of the open rearing and grazing regulation law had informed an amendment bill, which had passed second reading in the House.
The Speaker further disclosed that the Assembly had commenced a similar exercise on the Oyo State Sexual and Gender-Based Response Agency and Referral Law.
On security, Ogundoyin said the House had organised a security summit involving relevant stakeholders to examine the security situation in the state and consider possible solutions.
He assured the governor that the Assembly would subject the proposed 2027 budget to thorough legislative scrutiny, adding that the interest of the people would guide its consideration.
