By Ayomide Otitoju
Oyo State Governor, Seyi Makinde, has signed the ₦684 billion 2025 Appropriation Act, tagged the “Budget of Economic Stabilisation.” Speaking during the signing ceremony on Monday at the Executive Chamber of the Governor’s Office, Agodi, Ibadan, Makinde revealed that his administration had improved the state’s annual budget performance from an initial 30-35% to over 70% and is now targeting 80% implementation in 2025.
Makinde emphasized that the budget is a strategic tool for advancing reforms, fostering economic stability, and enhancing the well-being of Oyo State residents.
“This journey began in September 2024 when we kicked off the budget stakeholders’ meeting across all zones. After engaging with our people and gathering their inputs, we prepared the budget, followed by Treasury Board meetings. It is not just a yearly ritual; it’s a reflection of our commitment to inclusive governance,” the governor said.
He described the budget as the administration’s operational guide. “The budget is like our Bible or Quran—it’s the manual we follow to run this government. Whatever we include in it is what we are committed to delivering.”
Key Provisions for 2025
The governor highlighted that the 2025 budget includes provisions for implementing the new minimum wage and consequential adjustments, set to take effect on January 1, 2025. He praised labor union leaders and the state workforce for their support and understanding during discussions on the minimum wage.
Makinde also announced that the government would pay the 13th-month salary to all workers and retirees on December 31, 2024. “We have fulfilled our commitments for 2024, including regular salary payments, wage awards, and the upcoming 13th-month salary,” he said.
Economic Stability and Reforms
Makinde reiterated his administration’s focus on people-centered policies and economic reforms to stabilize the state’s economy. He expressed confidence that the 2025 budget would play a pivotal role in achieving these goals, adding that his administration remains committed to delivering on its promises.
“Our focus is on creating an efficient, transparent, and accountable system that prioritizes the needs of our people,” the governor concluded.
The signing of the 2025 Appropriation Act marks another step in Oyo State’s pursuit of fiscal discipline and development under Governor Makinde’s leadership.
