Governor Seyi Makinde has given final approval to Oyo State’s ₦892 billion 2026 budget, authorising the execution of the government’s expenditure and revenue programme for the year.
The approval follows the passage of the appropriation bill by the Oyo State House of Assembly, concluding the legislative process and authorising the executive to commence full budget execution.
The 2026 financial plan outlines the state’s priorities across capital investment, recurrent spending, and debt servicing, with a focus on sustaining economic activity and improving service delivery.
According to government sources, the budget places significant emphasis on infrastructure development, education, healthcare, and economic productivity.
Capital expenditure is expected to account for a substantial share of total spending, reflecting the administration’s intention to deepen investment in roads, public facilities, and social infrastructure across the state.
The approved budget also incorporates provisions aimed at strengthening internally generated revenue while maintaining fiscal discipline. Officials say revenue projections were designed to align more closely with realistic economic conditions, reducing the risk of funding gaps during implementation.
Governor Makinde has repeatedly stated that budget execution, rather than size, remains the administration’s key priority. With the 2026 budget now approved, attention is expected to shift toward timely releases, project delivery, and monitoring to ensure value for money.
The ₦892 billion spending plan comes at a time when subnational governments are facing tighter fiscal conditions following subsidy reforms and broader macroeconomic adjustments.
Analysts note that effective implementation will depend on revenue performance, federal allocations, and prudent cash management throughout the year.
With legislative approval secured, the Oyo State government is expected to issue detailed breakdowns of sectoral allocations and implementation timelines in the coming weeks, providing further clarity on how the 2026 budget will be deployed across the state’s economy.