Makinde presents N892bn 2026 Budget proposal to lawmakers
By Adewale Owoade
Oyo State Governor, Seyi Makinde has presented the 2026 Appropriation Bill to the House of Assembly, tagged the “Budget of Economic Expansion”, with infrastructure development and education receiving the largest allocations.
While addressing lawmakers in Ibadan, the governor announced a budget estimate of Eight Hundred and Ninety-One Billion, Nine Hundred and Eighty-Five Million, Seventy-Four Thousand, Four Hundred and Eighty Naira, Seventy-Nine Kobo (₦891,985,074,480.79).
“The 2026 budget of economic expansion, totalling 891,985,074,480.79, builds on the foundation of stability to drive productivity and inclusive growth.
“₦502,846,477,812.85 is dedicated to capital expenditure, while ₦389,138,596,667.94 will go to recurrent expenditure.
“This is another milestone budget; we are edging closer to the ideal 60:40 ratio between capital and recurrent expenditure.
“In this budget, capital expenditure stands at 56.37 per cent, while recurrent expenditure is 43.63 per cent. We will continue to prioritise sectors that directly expand our economy,” Makinde stated.
In his address, the Speaker of the House of Assembly, Adebo Ogundoyin, commended the governor for his visionary leadership and the progress achieved under the 2025 “Budget of Economic Stabilisation”.
“The Budget Proposal reflects a bold fiscal direction aimed at deepening development and human capital growth in our dear state.
“As the 10th Oyo State House of Assembly, we remain steadfast in our oversight responsibilities. We will ensure that every naira appropriated is accounted for and that every project delivers measurable impact.
“We will continue to work collaboratively with the Executive and other arms of government to implement policies and programmes that uplift our people and transform our state.
“Together, we can drive Oyo State towards becoming the fastest-growing economy in Nigeria, a state where development is both tangible and people-centred,” Ogundoyin said.
According to the News Agency of Nigeria, the 2026 Oyo State Budget composition includes: Personnel – ₦156,385,612,074.34; Overhead – ₦122,212,984,593.60; Other Recurrent – ₦110,840,000,000.00; Total Recurrent – ₦389,338,596,667.94; and Capital Expenditure – ₦502,646,477,812.85.
Sectoral allocations include: Education – ₦155,209,617,317.20 (17.4%); Agriculture – ₦19,987,210,324.16 (2.2%); Health – ₦70,849,163,558.07 (7.9%); Infrastructure – ₦210,025,443,802.16 (23.5%); and Others – ₦435,913,639,479.19 (48.9%).
(NAN)
