Oyo State Governor Presents Ambitious N891.9 Billion Budget for 2026
Governor Seyi Makinde of Oyo State officially presented the 2026 Appropriation Bill, valued at N891,985,074,480.79, to the state House of Assembly on Monday, November 24, 2025. The budget, christened the 'Budget of Economic Expansion,' is designed to accelerate the state's economic growth and integrate it into global markets through strategic investments.
Budget Breakdown and Sectoral Allocations
The financial plan clearly prioritizes development, with capital expenditure receiving N502.8 billion (56.7%), while recurrent expenditure is set at N389.1 billion (43.3%). A detailed look at the sectoral allocations reveals the administration's key focus areas.
The infrastructure sector is set to receive the lion's share of N210.02 billion, representing 23.55% of the total budget. In a significant commitment to human capital development, the education sector was allocated N155.2 billion (17.40%), a figure that notably surpasses the UNESCO recommended benchmark for education funding.
Other critical sectors also received substantial allocations: the health sector gets N70.8 billion (7.94%), and agriculture is allocated N19.9 billion (2.24%).
Driving Economic Expansion Through Flagship Projects
Governor Makinde, addressing the Assembly Chambers in Agodi Secretariat, Ibadan, stated that the budget builds on the successes of the 2025 Budget of Economic Stabilisation. He highlighted that the state's Internally Generated Revenue (IGR) has grown without increasing the tax burden on citizens, crediting reforms for this efficiency.
He outlined several strategic projects positioning Oyo State for a production-led economy. "The Africa Continental Free Trade Area initiative will open integrated continental markets to local producers," Makinde said. Key projects driving this vision include:
- The Oluyole Free Trade Zone to attract manufacturing and export industries.
- Special Agro-Processing Zones to add value to raw agricultural produce.
- A dry port and logistics hub to strengthen trade competitiveness.
- The ongoing upgrade of the Samuel Ladoke Akintola Airport to international standards.
The governor also emphasized the importance of the 110-kilometre Rashidi Ladoja Circular Road in enhancing regional connectivity and catalysing economic activity. He noted the recent completion of the Ibadan Central Bus Termini 1 and 2 and Phase 1 of the Ibadan Airport upgrade, which now allows the state to receive wide-bodied aircraft.
Legislative Reception and Forward Outlook
In his remarks, the Speaker of the House, Rt. Hon. Adebo Ogundoyin, commended Governor Makinde for his leadership and the achievements recorded under the 2025 budget. He affirmed that the allocation distribution reflects a commitment to strategic priorities and long-term sustainability, aligning with the Medium-Term Expenditure Framework (MTEF 2026–2028).
Ogundoyin pledged the Assembly's continued cooperation with the Executive to ensure effective policy implementation and accountability in project delivery. The event was graced by top government officials, including the Deputy Governor, former deputy governors, the Chief Judge, and traditional rulers.
Governor Makinde also revealed that Oyo State will celebrate its 50th anniversary in February 2026, using the milestone to showcase the state's creativity and rich heritage to the world.
