Oyo State Governor, ‘Seyi Makinde, on Monday presented a proposed budget estimate of ₦891,985,074,480.27 to the State House of Assembly for legislative review and approval.
Makinde, while presenting the budget tagged “Budget of Economic Expansion,” as a decisive policy shift for global market integration and economic expansion for the pacesetter state.
He said, “Of the total budget, capital expenditure accounts for ₦502.8 billion, representing 56.7 per cent, while ₦389.1 billion is allocated to recurrent expenditure, representing 43.3 per cent of the budget.”
The infrastructure sector receives the lion’s share of the allocation, with ₦210.02 billion, followed by the education sector, which gets ₦155.2 billion, representing 17.40 per cent.
The health sector gets ₦70.8 billion at 7.94 percent, while agriculture receives ₦19.9 billion, representing 2.24 per cent of the budget.
He noted that several flagship projects, including AfCFTA initiatives, the Oluyole Free Trade Zone, Special Agricultural Zones, dry ports and logistic ports, the upgrading of Ladoke Akintola Airport, and the 110km Rashidi Ladoja Circular Road and corridor linking key transport and commercial hubs, will help position Oyo as a self-sufficient state.
He further added that Oyo State will mark its 50th anniversary in February 2026, with the theme “Renewal: A celebration of where we have come from and where we are going,” adding that the state’s greatest asset is its people and their creativity.