By Ayomide Otitoju
Oyo State Governor, Seyi Makinde, on Monday signed the state’s ₦892 billion 2026 Appropriation Bill into law, reaffirming his administration’s commitment to a production-driven economic strategy aimed at sustainable growth and reduced dependence on federal allocations.
Speaking shortly after the budget signing ceremony at the Executive Chambers of the Governor’s Office, Secretariat, Ibadan, Makinde said the 2026 Budget deemphasises consumption in favour of increased production, which he described as the most viable pathway to expanding the state’s economy.
The governor urged all stakeholders to work in line with established implementation frameworks to ensure the full execution of the budget for the benefit of residents of the state. He noted that his administration has adopted a realistic budgeting process and recorded improved budget performance over the past six years.
According to Makinde, the ₦892 billion budget is designed to stimulate genuine economic growth while strengthening the state’s fiscal independence. He, however, indicated that a supplementary budget could be presented later in the year should the state record a financial surplus or if key economic projects begin to generate increased returns.
“This budget is the last full-year budget of this administration,” Makinde said, recalling that upon assuming office in 2019, his government reviewed and reduced the existing budget by about 25 per cent due to low implementation levels at the time. He explained that the adjustment helped improve budget performance in subsequent years.
The governor cited investments in infrastructure and agriculture, including the rehabilitation of the Oyo–Iseyin Road to support activities around the Fasola Farm Estate, as examples of the administration’s focus on productive assets capable of driving long-term economic growth.
Makinde also pledged that his government would continue to serve the people of Oyo State until the end of its tenure, assuring that budget implementation would follow the consistent pattern established over the years. He added that any move towards a higher budget threshold, including a potential ₦1 trillion mark, would be guided by data and fiscal logic rather than assumptions.
The governor expressed appreciation to the Oyo State House of Assembly, traditional rulers, labour unions and residents for their sustained support, noting that cooperation across sectors has prioritised the interest of the state over partisan considerations.
Earlier, Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, said the legislature ensured the timely and thorough passage of the 2026 Appropriation Bill in line with global financial best practices. He described the budget as bold and impactful, adding that its passage reflected the strong synergy between the executive and legislative arms of government.
Ogundoyin commended Governor Makinde for his achievements, particularly in public and civil service recruitment, and assured continued legislative support for policies and programmes that promote economic growth, infrastructure development and improved living standards. He also pledged effective oversight to ensure full implementation of the budget.
In his remarks, the Commissioner for Budget and Economic Planning, Prof. Musibau Babatunde, said the 2026 Budget is anchored on productive and transformational projects aimed at positioning Oyo State as a global economic landmark.
The event was attended by several dignitaries, including former Oyo State Governor and Olubadan of Ibadanland, Oba Rashidi Ladoja; Deputy Governor, Barr. Abdulraheem Bayo Lawal; former deputy governors, Engr. Hamid Gbadamosi and Barr. Hazeem Gbolarumi; the Alaafin of Oyo, Oba Akeem Owoade, among others.
