Governor Seyi Makinde of Oyo State has proposed a total of N891.99 billiion Appropriation Bill for the 2026 fiscal year tagged, ‘Budget of Economic Expansion’ before the House of Assmebly.
The figure is against the N684 billion approved by the lawmakers in the outgoing 2025 fiscal calendar.
In his presentation of the Appropriation Bill, Makinde said out of the proposed figure, N389.34bn would be for recurrent expenditure and N502.65bn for capital expenditure.
According to the proposal, the total recurrent expenditure of N389,338,596,667.94 comprises: Personnel (N156,385,612,074.34), Overhead (N122,212,984,593.60) and other recurrent – (N110,840,000,000.00).
In a sectoral breakdown, the Infrastructure sector takes the lead with N210.02bn; Education sector, N155.21bn; Health sector, N70.81bn; Agricultural sector, N19.99bn; while other multisectoral sectors are allocated N435.9bn.
While Infrastructure (N210,025,443,802.16) represents 23.5 percent of the total budget, Education (N155,209,617,317.20), is 17.4 percent, Health (N70,849,163,558.07) is 7.9 percent, Agriculture (N19,987,210,324.16) is 2.2 percent while others (multi-sectoral allocations) of (N435,913,639,479.19) represent 48.9 percent of the total budget.
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The governor highlighted several projects expected to drive the state’s economic transformation, including AfCFTA-focused initiatives, the Oluyole Free Trade Zone, Special Agricultural Zones, dry and logistics ports, the upgrading of Ladoke Akintola Airport, and the expansive 110km Rashidi Ladoja Circular Road linking key commercial corridors.
He noted that Oyo State will celebrate its 50th anniversary themed “Renewal: A celebration of where we have come from and where we are going,” in February 2026, emphasising that the state’s greatest resource remains its people and their creativity.
People-centered Budget
In his address, the Speaker of the Oyo State House of Assemblly, Hon. Adebo Ogundoyin, described the 2026 Budget Proposal as ambitious, people-centered, and strategically aligned with the development priorities of the state, noting that the budget was a product of wide stakeholder engagements across all seven geopolitical zones of the state, which shows the administration’s commitment to inclusive and responsive governance.
He commended the strong focus on infrastructure, education, healthcare, and economic empowerment, describing them as pillars for sustainable growth and human capital development.
The Speaker assured the Executive of the Legislature’s continued cooperation and legislative backing to ensure timely passage and effective oversight, saying the 10th Assembly has passed 32 impactful Bills, received and deliberated on 110 committee reports, and moved 125 Motions.
Ogundoyin called on Governor Makinde to address the demands of the Parliamentary Staff Association of Nigeria (PASAN), including the CONLESS review, remuneration for deputy clerks, full legislative autonomy, and upgrade and renovation of the House of Assembly Complex.
He reaffirmed the Legislature’s commitment to transparency, service delivery, and ensuring that every naira spent translates to meaningful development for the people of Oyo State.
The presentation ceremony had in attendance prominent individuals and stakeholders including foremost traditional rulers in the state: the Olubadan of Ibadanland, Oba Rashidi Ladoja; Alaafin of Oyo, Oba Akeem Owoade, among others.