Pic 1: Oyo State Governor, Seyi Makinde (middle); signing the year 2026 appropriation bill into law, with him from left are; Deputy Governor, Barr Bayo Lawal; Alaafin of Oyo, Oba Abimbola Owoade; Olubadan of Ibadanland, Oba Rashidi Ladoja; Speaker, Oyo State House of Assembly, Hon Debo Ogundoyin and others, held at Executive Chamber Governor’s Office, Secretariat, Ibadan. PHOTO: Oyo Gov’s Media Unit.
Makinde Signs ₦892bn 2026 Budget, Shifts Focus from Consumption to Production.
By Adewale Owoade
Oyo State Governor, Seyi Makinde, has declared that the state’s 2026 Budget is deliberately structured to de-emphasise consumption and prioritise production, describing the approach as the most sustainable pathway to economic expansion in the state.
The governor stated this shortly after signing the 2026 Appropriation Bill into law at the Executive Chambers of the Governor’s Office, Secretariat, Ibadan.
He called on all stakeholders to work in alignment with the state’s development framework to ensure the full and effective implementation of the budget for the benefit of residents.
Governor Makinde noted that his administration has consistently maintained a realistic budgeting process, resulting in improved budget performance over the past six years.
“The objective of the ₦892 billion 2026 Budget is to engender genuine economic growth by reducing our dependence on federal allocations.
“For us, this 2026 budget has de-emphasised consumption. We are in an environment where history challenges us, and we dare to be different. We choose to be productive.
“We want to expand our economy and depend less on federal allocation, because that is the only path to sustainable growth.
“People may say we are standing alone. Yes, we will continue to stand alone if we are certain we are standing in the right place. That is the spirit of Oyo people. Our history teaches us to chart our own course.
“That is exactly what we have done with this budget. We are ensuring that we consume only according to what we can produce. As we expand production, our capacity to consume will also increase.”
Finally, I am on my way out and I have one more budget to present but I won’t be the one to implement the budget to the end. I will implement it till May 29th.
“So, what I am asking for is for us to work together so that the implementation of this budget will follow the consistent pattern we have developed over these past six plus years so that Oyo State people can get the full benefits of this.
“I promise the people of Oyo State that we will serve them till the last minute of the last day. This is one of the critical areas we can maintain the service to the people.
“If peradventure, we get into the middle of the year and we have some surplus, some windfall or some of the engagement that we are having, if it should yield something better, we will come back to the House of Assembly to present a supplementary budget.
“We may still get to the N1trn mark but we won’t get there magically. We will get there through data and logic.”
The governor also used the occasion to appreciate key stakeholders, including the Oyo State House of Assembly, traditional rulers, labour unions and residents, for their sustained support, noting that collective commitment has always placed the interest of the state above all other considerations.
Earlier, while presenting the 2026 Appropriation Bill for assent, the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, described the budget as bold and daring, stating that it would have a direct impact on the quality of life of residents.
He added that the swift but conscientious passage of the bill underscored the strong synergy between the executive and legislative arms of government.
In his remarks, the Commissioner for Budget and Economic Planning, Prof. Musibau Babatunde, said the 2026 Budget is anchored on productive and transformational projects aimed at repositioning Oyo State as a global economic landmark.
The event had in attendance a former Governor of Oyo State and the Olubadan of Ibadanland, His Imperial Majesty, Oba Rashidi Ladoja; Deputy Governor of Oyo State, Barr. Abdulraheem Bayo Lawal; former deputy governors of Oyo State, Engr Hamid Gbadamosi and Barr. Hazeem Gbolarumi; Alaafin of Oyo, Oba Abimbola Owoade.
Also in attendance were former Speaker, Oyo State House of Assembly, Senator Monsurat Sunmonu; Chairman, House Committee on Finance and Appropriation, Hon Sunkanmi Babalola and members of the Oyo State House of Assembly.
Other top government functionaries in attendance include the Chief of Staff to the Governor, Otunba Segun Ogunwuyi; Head of Service, Mrs Olubunmi Oni, mni; labour union leaders, religious leaders and traditional rulers, among other dignitaries.
Pic 2: Oyo State Governor, Seyi Makinde (middle); his deputy governor, Barr Bayo Lawal (left); Alaafin of Oyo, Oba Abimbola Owoade (second left); Olubadan of Ibadanland, Oba Rashidi Ladoja (second right); Speaker, Oyo State House of Assembly, Hon Debo Ogundoyin (right) and others, during the signing of the year 2026 appropriation bill into law, held at Executive Chamber Governor’s Office, Secretariat, Ibadan. PHOTO: Oyo Gov’s Media Unit.
