Oyo State Governor, Seyi Makinde, presented the 2025 appropriation bill to the House of Assembly on Wednesday, with the infrastructure and education sectors receiving the largest allocations.
Presenting the budget estimate of ₦678,086,767,332.18 to lawmakers at Agodi, Ibadan, the governor announced that 51 per cent of the proposed budget is earmarked for capital expenditure, while recurrent expenditure will account for 49 per cent.
The governor stated that infrastructure will receive ₦152,265,859,738.19, representing 22.46 per cent of the total budget, which he said reflects feedback from residents across the state’s geopolitical zones during the stakeholders’ consultative forum held to gather input for the 2025 budget.
“Mr Speaker, Honourable Members, allow me to present the Oyo State 2025 Appropriation Bill, which supports the new minimum wage and drives further investments in our economy, education, healthcare, and security sectors,” Makinde said.
He added that the state would build on the economic progress achieved with the 2024 Budget of Economic Recovery, translating these gains into further tangible benefits for residents.
In line with the push for infrastructure development, the governor disclosed that he recently approved the release of ₦2 billion to the contractor for the ongoing 48-kilometre Ido-Ibarapa Road project, aiming to accelerate the completion of another 12 kilometres.
Oyo State’s 2025 budget proposal amounts to ₦678.086 billion, with ₦343.029 billion (50.59 per cent) allocated to capital expenditure and ₦335.058 billion (49.41 per cent) to recurrent expenditure.
“After reviewing data, including current inflation trends and projections for 2025, our Budget of Economic Stabilisation is approximately 35 per cent higher than the 2024 Budget of Economic Recovery,” Makinde noted.
“Our objective was to create an achievable budget. By October, our last budget was at about 65 per cent implementation by Q3, slightly below our target. We are confident that our revenue options will enable us to achieve over 70 per cent implementation in 2025.”
Makinde highlighted health and agriculture, with allocations of ₦59,411,385,714.68 and ₦18,760,243,348.45 respectively, representing around 9 per cent and 3 per cent of the budget.
“We believe this budget will fulfil its purpose as an economic stabilisation measure, supporting the Oyo State Roadmap for Sustainable Development 2023-2027. Our goal is to bring more smiles to investors, smallholder farmers, micro and small entrepreneurs, teachers and public servants, parents, children, youths, and all residents of Oyo State.”
He also mentioned that rehabilitation of inner roads will soon commence in other zones beyond the state capital, as provided for in the 2025 budget proposal.
