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Oyo State’s 2026 Budget: A Strategic Blueprint for Growth and Development
The Forum of Local Government Chairmen in Oyo State has expressed strong approval of Governor Seyi Makinde’s submission of the 2026 Appropriation Bill to the State House of Assembly. They hailed the budget as a pivotal milestone that promises to accelerate the state’s socio-economic progress, enhance security, and foster sustainable prosperity.
Overview of the 2026 Economic Expansion Budget
On Monday, Governor Makinde presented the 2026 Budget of Economic Expansion, which totals approximately ₦891.99 billion. This financial plan builds upon the achievements of the 2025 Budget of Economic Stabilisation, aiming to solidify the foundation for robust and inclusive economic growth throughout Oyo State.
Sectoral Allocations and Priorities
Significant investments are earmarked for critical sectors, with infrastructure receiving ₦210.2 billion (23.55%), education allocated ₦155.2 billion (17.40%), and health services set to benefit from ₦70.8 billion (7.94%). These allocations reflect the administration’s focus on enhancing public amenities and human capital development.
Capital vs. Recurrent Expenditure: A Balanced Approach
According to a statement from the Forum, signed by Chairman Hon. Sikiru Sanda and disseminated by Public Relations Officer Hon. Ibrahim Akintayo, the budget dedicates 56.37% of funds to capital expenditure, underscoring a commitment to infrastructural development and long-term projects. The remaining 43.63% is allocated to recurrent expenses, ensuring the smooth operation of government functions.
Governance, Transparency, and Accountability
The Forum praised Governor Makinde’s dedication to transparent governance and prudent financial management. They emphasized that the budget outlines a clear strategy for economic recovery and signals Oyo State’s resolve to pursue a modern, citizen-focused development agenda.
Driving Innovation and Economic Diversification
Beyond infrastructure expansion, the governor’s plan aims to cultivate new economic opportunities that will stimulate innovation and support the evolution of Oyo State into a competitive, first-world economy. This vision aligns with global trends where states leverage technology and entrepreneurship to boost growth.
Strengthening Agriculture as a Growth Engine
The Forum also highlighted the administration’s sustained commitment to agriculture, a sector pivotal to rural development and food security. With ₦19.9 billion (2.24% of the total budget) allocated to agricultural initiatives, the government is reinforcing efforts to transform agribusiness into a catalyst for economic upliftment and poverty reduction.
Call to Action for Stakeholders
The Local Government Chairmen urged citizens to actively support the government in implementing the budget effectively. They also appealed to the State House of Assembly to expedite the approval process of the Appropriation Bill to maintain momentum in Oyo State’s development trajectory and ensure political stability.
