Infrastructure tops Makinde’s 2026 Appropriation Bill of N891.9 bn

Seyi Makinde of Oyo State has presented a proposed budget of N891.9 billion for the 2026 fiscal year, with the infrastructure sector getting the highest allocation of N210 billion.

The budget, entitled the “Budget of Economic Expansion”, was presented in Ibadan on Monday to the state House of Assembly for consideration.

According to Makinde, the budget has a capital expenditure of N502.8 billion, representing 56.37 per cent, and recurrent expenditure of N389.1 billion, representing 43.63 per cent.

Makinde had, in Nov. 13, 2024, during the 2025 budget proposal of N678 billion, allocated 51 per cent to capital expenditure and 49 per cent to recurrent expenditure.

The governor noted that the state was moving closer to the 60:40 ideal ratio between capital and recurrent expenditure.

He said the development was in line with his administration’s focus on spending more on capital expenditure.

He explained that the N210 billion allocated to infrastructural projects, representing 23.55 per cent, aimed at completing already awarded and ongoing projects.

According to him, this is to ensure that his administration does not leave any project unfinished at the end of his tenure.

Meanwhile, the education sector was allocated N155.2 billion, representing 17.40 per cent of the total budget.

The governor stated that his administration had been meeting the 15 to 20 per cent recommendation of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for education budget allocation.

The governor, however, announced a total of N70.8 billion allocation to the health sector, a figure representing 7.94 per cent of the total budget.

He announced N19.9 billion as the proposed budgetary allocation to the agricultural sector, which represents 2.24 per cent of the total budget.

He, however, said that the figure wasn’t the full picture for the agriculture sector, explaining that many of the infrastructural projects driving the sector were captured under the infrastructure budget.

“Additionally, we have various Public-Private Partnership and development partners funded projects, which are ongoing across the states, such as the Rural Access and Agricultural Marketing Project (RAMP) and the Livestock Productivity and Resilience Support Project (LPRSP), among others,” he said.

The governor promised to continue embarking on meaningful projects that will improve the state’s economy.

He urged the state assembly to continue supporting his government in uplifting Oyo State.

NAN recalls that the infrastructure and education sectors received the top shares in the 2025 budget proposal with N152.2 billion (22.46 per cent) and N145.3 billion (21.44 per cent) respectively.

A few of the dignitaries who witnessed the event are include the Olubadan of Ibadanland, Oba Rashidi Ladoja, and the Alaafin of Oyo, Oba Abimbola Owoade.