Oyo state governor, Engr. Seyi Makinde on Wednesday presented a budget of N679 billion to the Oyo state House of Assembly for the 2025 fiscal appropriation.
Governor Makinde while presenting the estimates christened “Budget of Stabilisation,” said the appropriation is aimed to enhance various developmental projects across the state.
He stressed that N343 billion was appropriated for capital expenditure, representing 50.59 percent of the total budget, while N335 billion was for recurrent expenditure, representing 49.4 percent of the total budget.
Makinde disclosed N152 billion for infrastructural development of the state as the highest percentage of the budget with 22.4 percent.
He stated that education is to receive N145 billion, representing 21 percent of the total budget, while health would take N59 billion, which represents 9 percent and agriculture with N18 billion, represents 3 percent of the budget. The 2025 budget represents 35 percent increase compared to the 2024.
According to the governor, the budget would facilitate the achievement of his administration’s developmental agenda as well as committed to ensuring that the funds are judiciously used for the benefit of all residents in Oyo state.
“This budget estimate will enable us to reach our developmental goals across Oyo State.Once the budget proposal is passed and becomes law, we will work tirelessly to ensure the funds are used effectively for the benefit of the entire state,” he said.
Also at the presentation, the governor emphasized the need for the restoration of the Oyo state Council of Obas and Chiefs for the advancement of the traditional institution in the state.
He maintained that the disunity among the traditional rulers in the state has brought a major setback for traditional institution, hence the need to shun their individual differences and work for the advancement of the state
