Oyo State generated ₦406.9 billion in recurrent revenue in the first half of 2026, representing 91.2 per cent of its target for the period, just as it expended ₦345.7 billion, which is 77.5 per cent of its expenditure target for the first six months of the year.
The Secretary to the State Government (SSG), Prof. Musibau Babatunde, disclosed this in Ibadan while presenting the 2026 Half-Year Budget Implementation Report on Revenue and Expenditure to stakeholders at the Local Government Staff Training School, Secretariat, Agodi.
Prof. Babatunde also announced that the government will soon take delivery of 50 electric buses to improve public transportation and reduce commuting costs for residents.
He explained that the budget performance review across Ministries, Departments, and Agencies was aimed at assessing revenue generation and expenditure, while identifying areas requiring greater government attention.
He added that the review also covered projects nominated by residents during town hall meetings, noting that while some projects have commenced, others will begin before year-end.
Responding to a question on the higher budget allocation to infrastructure and education, Prof. Babatunde emphasized that projects in other sectors often overlap with these major sectors, making the allocation necessary.
He said, “The review is to track the 2026 budget, to measure achievements in revenue and expenditure, and to explore ways of improving Oyo State’s fiscal sustainability. This will enable the government to channel more resources into sectors that need greater support, ensuring better budget performance.”
He further noted: “As part of Governor Seyi Makinde’s promises during the state’s 50th anniversary celebration, Oyo will soon take delivery of 50 electric buses. These will be distributed across local government areas, while others will serve inter-city and intra-city routes, helping to reduce transportation costs.”
In his opening remarks, Commissioner for Budget and Economic Planning, Barr. Ayobami Ojo, attributed the strong budget performance to prudent financial management, improved revenue mobilization, and the dedication of public servants. He highlighted that the 2026 budget was developed through a participatory process guided by global best practices.
Ojo commended Governor Makinde for supporting institutional reforms that have positioned Oyo as one of Nigeria’s leading sub-national governments in transparency and accountable financial management. He stressed that the budget performance presentation reflects the Governor’s commitment to keeping citizens informed on how public resources are mobilized and spent.
Delivering her goodwill message, the Head of Service, Dr. (Mrs.) Adenike Fasina, mni, said the mid-year report was necessary to evaluate progress on the 2026 Appropriation Act. She urged revenue ministries to block leakages and ensure transparency in their operations.
Permanent Secretary, Ministry of Budget and Economic Planning, Mr. Tunde Ayanleke, assured that subsequent quarters would prioritize basic education and primary healthcare. He emphasized that the budget monitoring committee will continue monthly reviews to ensure desired results.
In their goodwill messages, the Executive Assistant to the Governor on Finance, Budget and Economic Planning, Alhaji Gafar Bello; President, Multidisciplinary Financial Professionals, Dr. (Prince) Oyebade Oyedepo, FCA; and Head of Democracy and Governance, Justice, Development and Peace Commission, Mr. Jide Bamgbose, commended the government for involving stakeholders in the budget process.
The event was attended by the Special Adviser to the Governor on Budget and Economic Planning, Hon. Simeon Oyeleke; Senior Special Assistant on Economic Planning, Mr. Kehinde Ogunsanya; Senior Special Assistant on Budget and Economic Planning, Hon. Kolawole Akanmu; Accountant-General of the State, Mrs. Kikelomo Adegoke; Auditor-General, Mr. Kehinde Popoola; Statistician-General, Alhaji Teslim Ajuwon; and stakeholders from ministries, civil society organizations, and the 33 local government areas.