Onome Amuge
Oyo State Governor Seyi Makinde has unveiled a budget estimate of N678,086,767,332.18 billion before the State Assembly on Wednesday, with infrastructure and education taking the lion’s share of the allocation for the 2025 fiscal year.
Termed, ‘the Budget of Stabilization,’ Governor Makinde emphasised that it aims to boost the economic recovery efforts of the 2024 budget, allowing the state to maintain its positive economic trajectory and create a more stable financial environment for its citizens.
Governor Makinde underscored that the proposed budget for 2025 represents an increase of 35 percent over the previous year’s budget.
 He explained that the allocation strategy centers on capital expenditure at N343,028,948,216.20 billion which accounts for 50.59 percent of the total budget, while recurrent expenditure constitutes N335,057,819,115.98 billion (49.41%).
The state government’s budget plan for 2025 shows an emphasis on critical sectors, with infrastructure being allocated the largest share of 22.46 percent at N152,265,859,738.19, followed closely by education at 21.44 percent at N145,354,783,399.80. Healthcare is also a priority, receiving 9 percent with N59,411,385,714.68 of the budget, while agriculture was allocated 3 percent at N18,760,243,348.45 billion.
Governor Makinde explained the rationale behind the high allocation to infrastructure and education, stating that the government’s recognition of the current deficit in these sectors, coupled with the administration’s inability to fully meet its goals in the current year’s budget, necessitated increased funding to these areas.
The Governor further explained that the proposed budget aims to renovate schools across the state, and that the budget for agriculture is intended to encourage private investors to stimulate activity in the sector.
Governor Makinde expressed his confidence that the proposed budget for 2025 will contribute significantly to the realisation of the state’s roadmap for sustainable development from 2023 to 2027.Â
The governor reassured the people of Oyo State that the budget plan would bring positive changes to the lives of investors, smallholder farmers, micro and small entrepreneurs, teachers and other public servants, parents, children, youths, and residents of the state in general.
House Speaker Adebo Ogundoyin, commended Governor Seyi Makinde’s administration, stating that the rebuilding of Oyo State under his leadership is a clear and undeniable success story.Â
Ogundoyin also noted that the 2024 budget proposal had achieved a 64 percent success rate, attributing this accomplishment to the collaborations between government branches and stakeholders.
Ogundoyin voiced his optimism that the momentum generated by the 2024 budget’s strong performance will propel the 2025 budget proposal to even greater heights, surpassing the current year’s achievements.Â
He further reassured the governor and the people of Oyo State that the lawmakers are eager to deliberate and pass the 2025 Appropriation bill.
