Makinde Presents N678bn 2025 Budget To Oyo Assembly

Oyo State Governor, Seyi Makinde, on Wednesday, presented a 2025 budget proposal of N678bn to the State House of Assembly christened: “Budget of Stabilization”.

In the budget, Makinde allocated ₦343 billion to drive economic growth and development, marking a 35% increase from the previous year’s budget for economic recovery, which has demonstrated the administration’s commitment to transformative change.

The budget was divided into:

Capital Expenditure: 50.59% (₦706,780,086,732.18)
Recurrent Expenditure: 49.41% (₦335,057,819,115.98).

According to the governor, the budget aims to increase spending on capital expenditure, maintain a balanced allocation for recurrent expenditure, and achieve over 70% implementation in 2025.

The key sectors allocated the budget to included Infrastructure Development with ₦152,265,859,738.19 (22.46% of the total budget)

Education: ₦145,354,783,399.80 (21.44% of the total budget)
Health: ₦59.411 billion (9% of the budget)
Agriculture: ₦18.766 billion (3% of the budget)
Water Resources: ₦27.23 billion.

Makinde said, “These allocations demonstrate the government’s focus on addressing critical needs and promoting holistic growth. The education sector’s substantial allocation exceeds the UNESCO recommended standard, aiming to address infrastructure deficits and renovate schools”.

The administration’s emphasis on agriculture seeks to encourage private investment, create jobs, increase food production, and contribute to the state’s economic stabilization.

“This aligns with the Oyo State Roadmap for Sustainable Development 2023-2027 and Governor Makinde’s vision to make Oyo State the gateway to sustainable investments in Nigeria.

Meanwhile, the Speaker of the Oyo State House of Assembly and Chairman of the Conference of Speakers of State Legislatures of Nigeria, Rt. Hon. Adebo Ogundoyin has commended Governor Seyi Makinde for presenting a comprehensive and forward-thinking budget proposal for the year 2025.

He described the budget as a key step in outlining the administration’s financial strategies and priorities, setting the stage for socio-economic development and the betterment of the people of Oyo State, saying, “Today marks another significant occasion as our Governor, His Excellency Engr. Seyi Makinde presents the 2025 budget proposal to this distinguished Assembly.

“This proposal is a crucial part of our ongoing efforts to drive economic growth, enhance infrastructure, and improve the quality of life for all residents of Oyo State,” Ogundoyin said.