Oyo State Governor, Seyi Makinde, on Wednesday presented the 2025 Appropriation Bill to the State House of Assembly, highlighting a significant focus on infrastructure development and education, which will receive the largest portions of the budget.
The proposed budget, which totals ₦678,086,767,332.18, allocates 51% to capital expenditure and 49% to recurrent expenditure. Presenting the budget to lawmakers in Agodi, Ibadan, the governor emphasized that infrastructure would receive ₦152,265,859,738.19 (22.46% of the total budget), reflecting the priorities of the state government based on feedback gathered from residents across Oyo’s geopolitical zones during a consultative forum.
“Mr. Speaker, Honourable Members, I am pleased to present the Oyo State 2025 Appropriation Bill, which will support the implementation of the new minimum wage and further investments in key sectors such as education, healthcare, security, and infrastructure,” Governor Makinde stated.
He added that the 2025 budget builds on the economic recovery efforts of the 2024 Budget, with a focus on translating gains into tangible benefits for the people of Oyo State.
As part of his push for increased infrastructure development, Makinde revealed that he recently approved ₦2 billion for the contractor handling the 48-kilometre Ido-Ibarapa Road project to expedite work on an additional 12 kilometres of the road.
The governor detailed the budget breakdown as follows:
- Capital Expenditure: ₦343,028,948,216.20 (50.59% of the total budget)
- Recurrent Expenditure: ₦335,057,819,115.98 (49.41% of the total budget)
“This budget is approximately 35% higher than the 2024 Budget of Economic Recovery, keeping in mind current inflation trends and projections for 2025. We aim for an implementable budget, and by the end of the third quarter of 2024, our previous budget had achieved about 65% implementation, slightly below our target. For 2025, we expect our revenue options to support over 70% of the implementation,” Makinde said.
Other key sectors, such as health and agriculture, will receive allocations of ₦59,411,385,714.68 (about 9% of the budget) and ₦18,760,243,348.45 (about 3% of the budget), respectively.
Makinde expressed confidence that the 2025 budget will fulfil its goal of economic stabilization, furthering the state’s Roadmap for Sustainable Development 2023-2027.
“Our goal is to bring prosperity to our state, enhancing the lives of investors, farmers, small entrepreneurs, teachers, public servants, parents, youths, and all residents of Oyo State,” he said.
In addition, the governor assured that the rehabilitation of inner-city roads would soon extend beyond the state capital, with provisions for these projects included in the 2025 budget proposal.
