The Oyo State Governor, Seyi Makinde, has held the 8th and final town-hall style budget consultation of his administration, while raising concerns over the withholding of Nigeria Liquified Natural Gas (NLNG) dividend funds meant for states.
At the Year 2027 Budget Stakeholders’ Consultative Engagement, held in Ibadan, Makinde disclosed that his administration understood early that infrastructure development is the foundation for economic growth.
He said such investments have significantly increased the value of assets across the state.
The Governor noted that what Oyo State needed, going forward, was not necessarily more engineers, but prudent financial managers who will maintain and enhance the institutional reforms already in place.
Makinde stated that his administration would implement only about 30 percent of the 2027 budget, since a new government would assume office on May 29, 2027.
He thanked residents for their support, noting that over the last seven years, any item included in the budget had a 70 percent chance of being executed.
READ ALSO: 2027 Budget: Oyo Begins Consultations Across Seven Zones
On agriculture, the Governor defended his administration’s tractorisation policy, explaining that scrapping the loss-making government tractor unit and privatising tractor services has improved farmers’ access to mechanisation.
Concerning the NLNG dividend funds, Makinde disclosed that each state is entitled to a refund of N250 billion, describing the delay as a major setback for subnational development planning and long-term infrastructure investment.
He questioned the rationale behind delaying the payments, saying: “Each state was supposed to get N250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?”
He noted that rising costs of governance and infrastructure have placed additional pressure on state budgets, saying Oyo State’s wage bill has grown from N4.5 billion in 2019 to N18 billion in 2026, while the cost of major projects has skyrocketed due to inflation.
Makinde argued that timely release of NLNG dividends would help states cushion the pressures, maintain project timelines, and sustain economic momentum.
The Speaker of the Oyo State House of Assembly, Adebo Ogundoyin, commended the Governor for institutionalising public consultation in the budget process, noting that people-centred budgeting has improved project execution across the state.
Secretary to the State Government, Professor Musibau Babatunde, highlighted the administration’s shift from ad hoc budgeting to a performance driven model, saying over 70 percent budget performance was recorded in 2026.
He explained that the consultative model, which began with three senatorial zones and expanded to all geopolitical zones, has been institutionalised with a feedback mechanism, quarterly budget tracking, and mandatory compliance by MDAs.
He added that no Ministry, Department or Agency is allowed to defend its budget at the pre-treasury stage without demonstrating how it incorporated public inputs from the stakeholders’ engagement.
Earlier, the Commissioner for Budget and Economic Planning, Ayobami Ojo, described the consultative forum as a strategic platform for consensus building on development priorities.
He emphasised that the 2027 budget must be guided by realistic revenue projections, prudent expenditure, and effective resource allocation.
Stakeholders, including local government representatives, advisory council members, student unions, farmers, persons with disabilities, religious leaders, civil society groups, artisans, and market associations, commended the Governor for the transformation of the state and offered recommendations on roads, security, welfare, and project.
