Oyo State Governor, Seyi Makinde, has presented a proposed budget of ₦1.15 trillion for the 2027 fiscal year to the State House of Assembly, with infrastructure, education and healthcare accounting for significant portions of the proposed expenditure.
The budget, tagged “Budget of Sustained Progress”, is the final annual budget presentation of Makinde’s administration ahead of the May 29, 2027 handover.
Presenting the appropriation bill before lawmakers, the governor said the estimates were designed to consolidate the achievements of his administration, sustain public services and ensure continuity in the state’s development beyond his tenure.
The proposed total expenditure stands at ₦1,150,341,378,359.90, with capital expenditure put at approximately ₦670.03 billion, representing 60.07 per cent, while recurrent expenditure was presented at approximately ₦445.31 billion, representing 39.93 per cent.
Under the sectoral allocations, infrastructure received the highest allocation of ₦236.15 billion, representing 21.17 per cent of the proposed budget, followed by education with ₦195.53 billion, representing 17.08 per cent.
Healthcare was allocated ₦93.01 billion, representing 8.34 per cent, reflecting the administration’s stated priorities in road development, education and healthcare delivery.
Explaining the rationale behind the budget, Makinde said his administration intended to build on the progress recorded since assuming office in 2019 while ensuring that ongoing projects and essential public services received adequate attention.
Reviewing his administration’s achievements, the governor recalled the removal of the ₦3,000 education levy previously paid by parents of senior secondary school students and the opening of the Freedom Bridge leading to the state Secretariat as some of the early decisions taken by his government.
On infrastructure, he highlighted the completion of the 65-kilometre Moniya-Iseyin Road within the first two years of his administration, explaining that the project was designed to connect the state’s consumption and production corridors, ease transportation challenges and improve farmers’ access to markets.
In the agricultural sector, Makinde said the establishment of the Oyo State Agribusiness Development Agency was aimed at transforming farming from subsistence activity into a commercially viable enterprise.
He disclosed that the Oyo State Agribusiness Transformation Centre at Fasola Farm Settlement had attracted investments worth more than ₦20 billion and generated over 1,000 direct and indirect jobs.
The governor also said more than 20,000 farmers, particularly women and smallholder farmers, had been captured biometrically to improve their access to government interventions and agricultural support.
He further identified collaborations with development partners, including the World Bank and African Development Bank, through programmes such as NG-CARES, the Livestock Productivity and Resilience Support Project and the Special Agro-Industrial Processing Zones programme.
On the state’s economy, Makinde disclosed that Oyo’s internally generated revenue had increased by more than 288 per cent, from ₦26.59 billion in 2019 to ₦103.25 billion in the last full financial year.
He added that the state ranked fourth nationally in the 2025 Ease of Doing Business assessment, while approximately 65,000 out-of-school children had been returned to classrooms through government interventions and partnerships.
Looking beyond the 2027 transition, the governor said his administration was preparing a roadmap to sustain the state’s development beyond May 29, 2027, urging residents to support continuity through his preferred successor under the proposed Omituntun 3.0 agenda.
Makinde called on members of the House of Assembly to give the proposed budget thorough legislative scrutiny, stressing that their decisions on its approval would have direct consequences for the development of the state.
He also thanked the lawmakers for their cooperation with the executive arm and urged them to ensure that the final budget of his administration reflected the needs and aspirations of the people of Oyo State.
