Oyo State Governor, Seyi Makinde, on Monday presented a total budget of ₦891.98 billion for the 2026 fiscal year to the Oyo State House of Assembly, unveiling an ambitious spending plan aimed at accelerating development and converting the state’s current stability into long-term economic opportunities.
Presenting the proposal tagged “Budget of Economic Expansion,” Governor Makinde said the fiscal document was crafted to link “infrastructure, human capital and innovation” in order to drive growth across critical sectors.
A breakdown of the budget shows that capital expenditure will gulp ₦502 billion, while recurrent expenditure will take ₦389 billion, representing a 60:40 ratio in favour of capital spending. The governor said the allocation reflects his administration’s commitment to sustaining the pace of development recorded in the last five years.
Makinde explained that the 2026 budget is anchored on four major pillars: Infrastructure, Education, Health, and Agriculture, a framework aimed at strengthening economic productivity and social wellbeing.
Infrastructure: ₦210,025,443,802 — 23%
Education: ₦155,209,607,317.20 — 17.40%
Health: ₦70,871,858,500 — 7.1%
Agriculture: ₦19,987,210,324.16 — 2.24%
Makinde noted that these allocations were carefully structured to consolidate ongoing projects and open up new economic corridors that will enhance job creation, industrial growth and human capital development.
The governor expressed appreciation to the lawmakers for the speedy passage of previous budgets, saying their cooperation had enabled the “massive infrastructural development” witnessed across the state. He also acknowledged the people of Oyo State for their resilience and unwavering support “even in the face of mass defections and internal party politics.”
The event attracted top political leaders, government officials and prominent traditional rulers.
Among those in attendance were the Deputy Governor, Barr. Bayo Lawal; National Secretary of the Peoples Democratic Party, Amb. Taofeek Arapaja; former deputy governors, Barr. Hazeem Gbolarumi and Engr. Hamid Gbadamosi; Chief Judge of Oyo State, Hon. Justice Iyabo Yerima; Senator Monsurat Sunmonu; and the Secretary to the State Government, Prof. Olanike Adeyemo.
Traditional rulers present included the Olubadan of Ibadanland, His Imperial Majesty Oba Rashidi Ladoja (Arusa I); members of the Olubadan-in-Council; the Alaafin of Oyo, Oba Abimbola Owoade I; the Soun of Ogbomoso, Oba Ghandi Olaoye; the Eleruwa of Eruwa, Oba Samuel Adegbola; the Olugbon of Orile-Igbon, Oba Francis Olushola Alao; and the Aseyin of Iseyin, Oba Sefiu Oyebola, among others.
The proposed budget now awaits legislative consideration and passage.
