The Oyo State Government has recorded ₦345.7 billion, which is 77.5 per cent of its expenditure target for the first six months of 2026, having generated ₦406.9 billion in recurrent revenue, representing 91.2 per cent of its target for the first half of the year.
The Secretary to the State Government (SSG), Prof. Musibau Babatunde, presented the 2026 Half-Year Budget Implementation Report on Revenue and Expenditure to stakeholders at the Local Government Staff Training School Secretariat, Agodi, Ibadan.
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.”
Prof. Babatunde explained that the budget performance review across Ministries, Departments, and Agencies (MDAs) was aimed at assessing revenue generation and expenditure, while identifying areas requiring greater government attention.
The SSG noted that the review also covered projects nominated by residents during town hall meetings, saying while some projects have commenced, others will begin before the year-ends.
He stated: “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.”
Responding to a question on the higher budget allocation to infrastructure and education, Babatunde emphasised that projects in other sectors often overlap with such major sectors, making the allocation necessary.
In his opening remarks, the Commissioner for Budget and Economic Planning, Ayobami Ojo, attributed the strong budget performance to prudent financial management, improved revenue mobilisation, and the dedication of public servants.
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Ojo highlighted that the 2026 budget was developed through a participatory process guided by global best practices, and 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 mobilised and spent.
Delivering her goodwill message, the Head of Service, Dr. Adenike Fasina, said the mid-year report was necessary to evaluate progress on the 2026 Appropriation Act, urging revenue ministries to block leakages and ensure transparency in their operations.
Permanent Secretary, Ministry of Budget and Economic Planning, Mr. Tunde Ayanleke, emphasised that the budget monitoring committee will continue monthly reviews to ensure desired results, and assured that subsequent budgets would prioritise basic education and primary healthcare.
In their goodwill messages, the Executive Assistant to the Governor on Finance, Budget and Economic Planning, Gafar Bello; President, Multidisciplinary Financial Professionals, Dr. Oyebade Oyedepo, and Head of Democracy and Governance, Justice, Development and Peace Commission, Mr. Jide Bamgbose, commended the government for involving stakeholders in the budget process.
