Source: Leadership News
Oyo State Governor, Seyi Makinde, has presented an Appropriation Bill of N678.087 billion for the 2025 fiscal year, which he described as the “Budget of Economic Stabilization.” The presentation took place on Wednesday at the State House of Assembly in Ibadan.
The proposed budget reflects an increase of approximately 35% compared to the 2024 Budget of Economic Recovery. Governor Makinde expressed optimism about surpassing 70% implementation of the 2025 budget, referencing the 65% implementation rate achieved by the third quarter of 2024, which was short by only 5%.
Detailing the allocation, Governor Makinde disclosed that over half of the budget is designated for capital expenditure, amounting to N343.03 billion (50.59%). The remaining N335.06 billion (49.41%) has been allocated for recurrent expenditure.
Infrastructure emerged as a key priority, receiving N152.27 billion (22.46%) of the budget, followed by education, which has been allocated N145.35 billion (21.44%). Other allocations include N59.41 billion (9%) for health and N18.76 billion (3%) for agriculture.
Governor Makinde highlighted that the increased allocation for education aims to address critical infrastructure deficits within the sector, such as school renovations. He expressed confidence that the proposed budget aligns with the Oyo State Roadmap for Sustainable Development 2023-2027, ensuring benefits for diverse groups, including smallholder farmers, micro-enterprises, public servants, and residents across the state.
“Our goal is to bring more smiles to the faces of our people,” Governor Makinde said, expressing optimism that the 2025 budget would usher in significant positive changes for Oyo State residents.
