The Oyo State Governor, Seyi Makinde, has presented a total 2025 budget sum of ₦678.086 billion (N678, 068 767 332.18) to the Oyo state House of Assembly for legislative consideration and approval.
While capital expenditure as contained in the budget takes 51 percent of the total budget, recurrent expenditure stands at 49 percent.
The governor, in his address before the presentation on Wednesday, November 13, tagged the 2025 budget “Budget of Economic Stabilization”.
“So, today, I stand before you, Mr Speaker Sir and the Honourable Members of this House to present the Oyo State 2025 Budget of Stabilisation. The goal of this budget is to consolidate the economic gains we engineered through the 2024 Budget of Economic Recovery and translate them into more tangible benefits for our people.
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“Here in Oyo State, it has always been our pride to ensure that every kobo approved by this house is used to drive sustainable development in the State. The Oyo State 2025 Appropriation Bill is not going to be any different. We are even more determined to ensure that our people get more benefits from the implementation of this budget,” he said.
According to the budget estimate, N343 billion was appropriated for capital expenditure, which represents 50.59 percent of the total budget, while N335 billion naira budgeted for recurrent expenditure represents 49.4 percent of the total budget.
“Mr Speaker Sir, Honourable Members of the House, permit me at this point, to present the Oyo State 2025 Appropriation Bill that will support the new minimum wage, and power further investments in our economy, education, healthcare and security sectors.
“We are proposing a budget of six hundred and seventy-eight billion, eighty-six million, seven hundred and sixty-seven thousand, three hundred and thirty-two-naira, eighteen kobo. (N678,086,767,332.18),” he added.
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Makinde said N152 billion has been appropriated for the infrastructural development of the state, which he noted took the largest percentage of the budget with 22.4 percent.
Also, education received N145 billion, which represents 21 percent of the total budget. Health got N59 billion, which represents 9 percent while agriculture got N18 billion, representing 3 percent of the budget.
“We strongly believe that this budget will live up its name as the economic stabilisation that will support our Oyo State Roadmap for Sustainable Development 2023-2027.
“Our plan is to bring more smiles into the faces of investors, smallholder farmers, micro and small entrepreneurs, our teachers and other public servants, our parents, our children, our youths, and all residents of Oyo State,” Makinde stated.
The governor added that the 2025 budget proposal represents 35 percent increase compared to the 2024.
