Oyo State Governor, Engineer ‘Seyi Makinde, has signed into law the 2026 Appropriation Bill, amounting to over ₦892 billion, marking another significant milestone in the state’s fiscal and developmental trajectory.
The budget signing ceremony was held at the Executive Council Chambers of the Governor’s Office, Secretariat, Ibadan.
The 2026 Appropriation Law, aptly tagged the “Budget of Expansion,” underscores the Makinde administration’s resolve to accelerate economic growth, strengthen productive sectors, and consolidate ongoing reforms across critical areas of governance.
Governor Makinde described the budget as a realistic and forward-looking fiscal framework deliberately designed to de-emphasise consumption while prioritising production and sustainable economic expansion.
According to the governor, the 2026 budget reflects his administration’s strategic shift towards building a resilient and self-sustaining economy capable of generating internal growth and reducing overreliance on federal allocations.
He reiterated that Oyo State is poised to expand its economic base by investing in key sectors that stimulate productivity, create jobs, and drive inclusive development across the state.
Governor Makinde further disclosed that the size of the budget could be reviewed upward, should the state record improved revenues or experience financial windfalls within the fiscal year.
He stated that his administration would not hesitate to approach the Oyo State House of Assembly with a supplementary budget proposal, potentially pushing the 2026 budget to the ₦1 trillion mark by the middle of the year.
“This budget is structured to grow our economy, enhance productivity and ensure that Oyo State continues on the path of sustainable development. Where additional resources become available, we will responsibly expand the budget to meet emerging needs and development priorities,” the governor said.
In his remarks at the event, the Speaker of the Oyo State House of Assembly, Rt. Hon. Debo Ogundoyin, described the ₦892.08 billion 2026 budget as bold, inclusive and strategic.
He noted that the legislature thoroughly scrutinised the budget proposal to ensure it aligns with the developmental aspirations of the people and supports long-term economic stability.
Ogundoyin commended the executive arm for its commitment to prudent fiscal management and productive investment, assuring that the House would continue to provide legislative support for policies and programmes aimed at advancing the socio-economic wellbeing of residents.
