The Oyo State House of Assembly has been presented with a budget estimate of N891.9 billion for the 2026 fiscal year by Governor Seyi Makinde for approval.
The total amount presented by the governor stands at N891,985,074.480.79.
The presentation was given by the governor at the Oyo State House of Assembly on Monday. The budget presentation was attended by prominent traditional leaders in the state.
Makinde said infrastructural development and education sectors will take the lion share in the proposed budget.
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According to him, the ‘Budget of economic expansion’ is intended at setting the state for a production-led economy.
According to him, capital expenditures will account for 56.3% of the budget estimate, while recurring expenses will account for 47.6%.
Additionally, education will receive N155.209 billion, or 17.40 percent of the budget, while infrastructure development will receive N210.25 billion, or 22.55 percent of the total budget estimate.
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He noted that the health and agriculture sectors will swallow N70.848 billion and N19.98 billion, respectively, totaling 7.94 percent and 2.24 percent.
Speaker of the Assembly, Adebo Ogundoyin, pledged that cash budgeted will be appropriately accounted for.
Ogundoyin underlined that projects covered in the budget will have good impacts on the lives of the citizens of the state.
