Governor Seyi Makinde of Oyo State has proposed a budget of N678.87 billion for the 2025 fiscal year, presenting the budget to the Oyo State House of Assembly on Wednesday.
The proposed budget, named the “Budget of Economic Stabilisation,” is aimed at driving growth through targeted investments in infrastructure and education. This year’s proposal marks a 35% increase from the 2024 budget, indicating a strategic shift towards more expansive development.
Governor Makinde outlined that the budget allocates N349.29 billion, or 50.59%, to capital expenditures, while N325.57 billion is designated for recurrent expenditures, amounting to 49.41%. This significant emphasis on capital projects underscores the administration’s focus on long-term development initiatives.
The infrastructure sector is set to receive the largest share, with an allocation of N152.27 billion, representing 22.46% of the total budget. The education sector follows closely, receiving N145.26 billion, which makes up 21.44% of the budget.
Health and agriculture were also prioritized, with health allocated N59 billion, or 9%, and agriculture receiving N18 billion, or 3% of the total budget. Governor Makinde reaffirmed his commitment to improving citizens’ quality of life, ensuring their welfare remains a top priority.
In response, the Speaker of the House, Adebo Ogundoyin, pledged the legislature’s support, emphasizing transparency and responsible resource management. “We pledge to conduct thorough oversight of all government arms in order to guarantee transparency, accountability and responsible allocation of resources,” Ogundoyin stated, adding that the House would expedite the budget’s passage to enable prompt implementation in 2025.
