The Oyo State Governor, Seyi Makinde, on Monday presented the ₦891.98 billion 2026 Appropriation Bill to the State House of Assembly, describing it as the “Budget of Economic Expansion” aimed at consolidating the state’s economic growth and preparing it for global market integration.
Governor Makinde told lawmakers at the Assembly Chambers, Secretariat, Agodi, Ibadan, that the budget was structured to stimulate productivity while sustaining social services without increasing the tax burden on citizens.
Of the total budget, ₦502.8 billion (56.7%) is earmarked for capital expenditure, while ₦389.1 billion (43.3%) is allocated to recurrent spending. Key sectors highlighted include infrastructure (₦210.02 billion), education (₦155.2 billion), health (₦70.8 billion), and agriculture (₦19.9 billion).
Makinde noted that ongoing projects such as the Oluyole Free Trade Zone, Special Agro-Processing Zones (SAPZ), Samuel Ladoke Akintola Airport upgrade, and the Rashidi-Ladoja Circular Road were driving industrialisation, trade, and export competitiveness.
He added that the state had increased Internally Generated Revenue (IGR) through automation and efficiency measures while keeping taxes low.
“Several flagship projects now position Oyo State for a production-led economy. Initiatives like the Africa Continental Free Trade Area will open new markets for our local producers,” Makinde said.
He also highlighted recent achievements, including the commissioning of four modern bus terminals and the completion of Phase 1 of the Ibadan International Airport upgrade, which now accommodates wide-bodied aircraft.
The Governor further announced plans to mark Oyo State’s 50th anniversary in February 2026, celebrating the state’s creativity and milestones while inspiring future generations.
In response, Speaker Adebo Ogundoyin commended Makinde for his visionary leadership and emphasized the Assembly’s commitment to judicious budget implementation and accountability.
The event was attended by the Deputy Governor, Barr. Bayo Lawal, former deputy governors, the Chief Judge of Oyo State, commissioners, Local Government Chairmen, traditional rulers, religious leaders, labour union officials, and party executives.
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