Makinde Presents ₦891.9bn ‘Budget of Economic Expansion’ for 2026
Oyo State Governor, Seyi Makinde, on Monday presented a ₦891,985,074,480.79 budget proposal for the 2026 fiscal year to the Oyo State House of Assembly, describing it as the “Budget of Economic Expansion.”
The proposed appropriation seeks to consolidate the gains of the 2025 budget while accelerating growth across critical sectors of the state’s economy. Governor Makinde said the fiscal plan is designed to enhance infrastructural development, boost economic productivity, and improve living standards for residents.
Presenting the breakdown, the governor explained that the 2026 budget prioritises four major sectors: infrastructure, education, health, and agriculture. Infrastructure received the largest allocation with an estimated ₦210.03 billion, representing about 23 per cent of the total budget. Education followed with ₦155.21 billion (17.4%), while the health sector was allotted ₦70.87 billion (7.1%). Agriculture received ₦19.99 billion, accounting for 2.24 per cent.
According to the proposal, capital expenditure is projected at ₦502 billion, while recurrent expenditure stands at ₦389 billion, reflecting a 60:40 ratio in favour of capital projects. Makinde noted that this ratio demonstrates his administration’s determination to fund physical developments that will stimulate economic activities statewide.
The governor emphasised that the 2026 budget aligns with his administration’s long-term development framework, ensuring continuity for ongoing projects while creating room for new ones that will expand economic opportunities. He reaffirmed his commitment to transparency, accountability, and inclusive governance.
Makinde also expressed appreciation to members of the Oyo State House of Assembly, traditional rulers, and residents for what he described as consistent support for his administration’s programmes. He called for sustained collaboration to ensure smooth passage and effective implementation of the budget once approved.
The 2026 proposal builds on the 2025 “Budget of Economic Stabilization,” which stood at ₦678.06 billion and targeted an 80 per cent implementation benchmark. With the new fiscal plan, the governor said the state is poised to move from stabilisation to full-scale expansion of economic activities.
Lawmakers and key stakeholders who witnessed the presentation commended the administration’s commitment to capital projects and long-term development. Public expectations remain high as the government intensifies efforts to improve road infrastructure, upgrade schools, modernise health facilities, and strengthen agricultural production across the state.