Oyo State Governor Seyi Makinde has signed the state’s ₦892 billion 2026 Appropriation Bill into law. The budget, which deemphasizes consumption and focuses on increasing production, aims to reduce the state’s dependence on federal allocations and promote sustainable growth.
Speaking after the budget signing ceremony, Governor Makinde emphasized the importance of production over consumption, citing the need to expand the state’s economy. He highlighted the administration’s efforts to improve budget performance over the past six years, achieving a significant increase in implementation. The governor also noted that the state might consider presenting a supplementary budget if there is a financial surplus or if ongoing landmark projects yield positive results.
The 2026 budget is designed to drive economic growth, improve infrastructure, and enhance the quality of life for citizens. Governor Makinde expressed appreciation for the support of stakeholders, including the Oyo State House of Assembly, traditional rulers, labor unions, and residents, who have consistently put the state’s interest above other considerations.
The Speaker of the Oyo State House of Assembly, Adebo Ogundoyin, commended the governor for his achievements in worker recruitment and assured him of the lawmakers’ support for policies and programs that promote economic growth and improve infrastructure. The commissioner for budget and economic planning, Prof Musibau Babatunde, stated that the 2026 budget would focus on productive and transformational projects to transform the state into a global economic landmark.
The budget signing ceremony was attended by dignitaries, including former Governor of Oyo State and Olubadan of Ibadanland, Oba Rashidi Ladoja, and the Alaafin of Oyo, Oba Akeem Owoade. With the signing of the 2026 budget, the Oyo State government aims to maintain its realistic budgetary process and achieve improved budget performance, ultimately benefiting the state’s residents. The successful implementation of the budget will depend on the continued support and collaboration of stakeholders.
