- Advertisement -
Oyo State Governor, Seyi Makinde, has presented a proposed ₦1.15 trillion Makinde 2027 budget to the Oyo State House of Assembly, describing it as the “Budget of Sustained Progress” and the final budget presentation of his administration ahead of the May 29, 2027 transition.
Presenting the appropriation bill before lawmakers, Makinde said the proposed budget was designed to consolidate the achievements of his government, sustain public services and ensure continuity in the state’s development beyond the end of his tenure.
The governor expressed appreciation to the people of Oyo State for giving him the opportunity to serve, noting that his administration had recorded significant progress since assuming office in 2019.
He recalled some of his government’s early decisions, including the removal of the ₦3,000 education levy previously paid by parents of senior secondary school students and the opening of the Freedom Bridge leading to the state Secretariat, which he described as symbolic steps towards accessible and people-oriented governance.
Makinde 2027 Budget Highlights Infrastructure Achievements
Reviewing his administration’s infrastructure achievements, Makinde highlighted the completion of the 65-kilometre Moniya-Iseyin Road within the first two years of his government.
He explained that the road was strategically constructed to connect the state’s consumption and production corridors, reduce transportation difficulties and improve access to markets for farmers, traders and businesses.
Makinde 2027 Budget Prioritises Agriculture and Job Creation
On agricultural development, the governor said his administration established the Oyo State Agribusiness Development Agency to transform agriculture from subsistence farming into a commercially viable sector. He cited the Oyo State Agribusiness Transformation Centre at Fasola Farm Settlement, which he said had attracted investments worth over ₦20 billion and generated more than 1,000 direct and indirect jobs. He also disclosed that over 20,000 farmers, particularly women and smallholder farmers, had been biometrically captured to improve access to government interventions and agricultural support.
Makinde further highlighted partnerships with international development institutions, including the World Bank and the African Development Bank, through programmes such as the Nigeria Community Action for Resilient Economic Stimulus (NG-CARES), Livestock Productivity and Resilience Support Project (L-PRES) and Special Agro-Industrial Processing Zones (SAPZ).
According to him, the partnerships have helped strengthen agricultural productivity, attract investments and expand economic opportunities across the state.
Makinde 2027 Budget Follows Growth in Oyo State IGR
Speaking on the state’s economic performance, the governor disclosed that Oyo State’s internally generated revenue (IGR) increased by over 288 per cent, rising from ₦26.59 billion in 2019 to ₦103.25 billion in the last full financial year. He also stated that Oyo ranked fourth nationally in the 2025 Ease of Doing Business assessment, while approximately 65,000 out-of-school children had been returned to classrooms through government interventions and partnerships.
Makinde 2027 Budget Allocates 60.47% to Capital Expenditure
Presenting the financial details, Makinde announced a proposed total expenditure of ₦1,150,341,378,359.90 for the 2027 fiscal year.
According to his presentation, ₦670.03 billion, representing 60.47 per cent, was earmarked for capital expenditure, while ₦445.31 billion, representing 39.93 per cent, was allocated to recurrent expenditure.
He explained that the capital component would finance infrastructure and development projects, while recurrent spending would sustain public institutions, personnel and essential government services.
Makinde 2027 Budget Allocates ₦195bn to Education
Under the proposed sectoral allocations, infrastructure received ₦236.15 billion, representing 21.17 per cent of the budget, while education was allocated ₦195.53 billion, representing 17.08 per cent. Healthcare received ₦93.01 billion, representing 8.34 per cent.
Makinde said the allocations reflected his administration’s determination to improve road networks, strengthen educational institutions, expand access to quality healthcare and maintain existing infrastructure.
Makinde 2027 Budget Supports Omituntun 3.0 Continuity Agenda
Looking towards the 2027 political transition, the governor disclosed that his administration was preparing a roadmap for the continued development of Oyo State beyond May 29, 2027.
He urged residents to support continuity through his preferred political successor under the proposed Omituntun 3.0 agenda, arguing that the next administration should consolidate the foundations laid by his government rather than abandon ongoing development initiatives.
Makinde also called on members of the Oyo State House of Assembly to give the proposed budget thorough consideration, reminding them that their decisions would directly affect the future of the state and the welfare of its residents.
He thanked the lawmakers for their cooperation throughout his administration and urged them to ensure that the appropriation reflected the needs and aspirations of the people of Oyo State
- Advertisement -
