Oyo State Governor, Seyi Makinde, on Monday presented a budget estimate of ₦891.9 billion for the 2026 fiscal year to the Oyo State House of Assembly, describing it as a spending plan designed to drive a production-led economy.
The governor, who arrived at the Assembly complex, was received by lawmakers and prominent traditional rulers who attended the presentation.
Naijaonpoint reports that the exact budget figure presented stands at ₦891,985,074,480.79. Makinde explained that the 2026 proposal, tagged ‘Budget of Economic Expansion’, prioritises capital investment in order to strengthen infrastructure, boost productivity, and stimulate economic growth.
He noted that 56.3% of the total estimate is dedicated to capital expenditure, while 47.6% is allocated to recurrent spending.
A breakdown of sectoral allocations shows that the state’s infrastructural development will receive ₦210.25bn, representing 22.55% of the entire budget.
According to Makinde, the investment is intended to consolidate ongoing projects and open up new economic corridors across Oyo State.
Education received the second-highest allocation with ₦155.209bn, amounting to 17.40% of the budget.
The governor said the sector remains central to his administration’s vision, promising continued improvements in school infrastructure, teacher development, and access to quality education.
The health sector was allocated ₦70.848bn (7.94%), while agriculture received ₦19.98bn (2.24%).
Makinde stated that the allocations reflect the administration’s commitment to strengthening healthcare delivery and boosting food security through agricultural reforms and value-chain development.
Responding after the presentation, Speaker of the Oyo State House of Assembly, Adebo Ogundoyin, assured that the legislature would ensure accountability in the management of public funds.
He maintained that projects captured in the budget would significantly impact the lives of residents.
“We will ensure that funds appropriated in this budget are adequately accounted for, and that every project contributes positively to the development of our state,” Ogundoyin said.
The budget now awaits legislative consideration and approval.
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