The Oyo State Government has recorded strong fiscal performance in the first half of 2026, with recurrent revenue hitting ₦406.9 billion, representing 91.2% of its target for the period.
The state also spent ₦345.7 billion within the same period, translating to 77.5% of its half-year expenditure target.
The Secretary to the State Government, Prof. Musibau Babatunde, disclosed this on Wednesday in Ibadan while presenting the 2026 Half-Year Budget Implementation Report to stakeholders at the Local Government Staff Training School, Secretariat, Agodi.
Prof. Babatunde said the review was to assess revenue and expenditure across Ministries, Departments and Agencies, and to identify areas needing more government attention.
According to him, the report also covered projects nominated by residents during town hall meetings. “While some have commenced, others will begin before the end of the year,” he stated.
The SSG further announced that the state will soon take delivery of 50 electric buses as promised by Governor Seyi Makinde during the state’s 50th anniversary.
He said the buses would be deployed across local government areas, as well as for inter-city and intra-city routes to ease transportation and reduce commuting costs.
Responding to questions on why infrastructure and education got higher budgetary allocation, Prof. Babatunde explained that projects in other sectors often overlap with the two, hence the need for increased funding.
“The review is to track the 2026 budget, measure achievements in revenue and expenditure, and explore ways of improving Oyo State’s fiscal sustainability. This will enable the government to channel more resources into sectors that need greater support,” he said.
In his remarks, the Commissioner for Budget and Economic Planning, Barr Ayobami Ojo, attributed the performance to prudent financial management, improved revenue mobilization, and the commitment of public servants.
He noted that the 2026 budget was prepared through a participatory process in line with global best practices.
Barr Ojo also commended Governor Makinde for institutional reforms that have placed Oyo among Nigeria’s leading states in transparency and accountable financial management.
The Head of Service, Dr. (Mrs.) Adenike Fasina, mni, described the mid-year report as necessary to evaluate progress on the 2026 Appropriation Act. She urged revenue-generating MDAs to block leakages and ensure transparency.
The Permanent Secretary, Ministry of Budget and Economic Planning, Mr. Tunde Ayanleke, assured that subsequent quarters would prioritize basic education and primary healthcare. He added that the budget monitoring committee would continue monthly reviews to ensure results.
Stakeholders including the Executive Assistant to the Governor on Finance, Budget and Economic Planning, Alhaji Gafar Bello; President of Multidisciplinary Financial Professionals, Dr. (Prince) Oyebade Oyedepo, FCA; and Head of Democracy and Governance, Justice Development and Peace Commission, Mr. Jide Bamgbose, commended the government for involving citizens in the budget process.
