Oyo State budget 2026 presents ₦891.98B plan for infrastructure, education, health, and trade to drive economic expansion and investment readiness

Oyo State Governor Seyi Makinde on Monday presented a landmark Oyo State budget 2026 of ₦891.98 billion to the State House of Assembly, describing it as a “Budget of Economic Expansion” aimed at accelerating the state’s transition into a production-driven, investment-ready economy.

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Addressing lawmakers in Ibadan, Makinde said the proposal builds on the success of the 2025 Budget of Economic Stabilisation, which restored fiscal balance, improved internally generated revenue through automation and efficiency, and maintained timely payment of salaries and social services without introducing new taxes.

He explained that stabilisation had created room for the state to enter a new phase of growth.

The 2026 budget allocates ₦502.85 billion to capital expenditure and ₦389.14 billion to recurrent expenditure, moving the state closer to its long-term target of a 60:40 capital-to-recurrent ratio.

Infrastructure received the largest allocation of ₦210.02 billion, reflecting the administration’s commitment to completing ongoing projects before the end of its tenure.

Rehabilitation of feeder roads has commenced, with the Ogbomoso zone already at the due process stage, awaiting Executive Council approval within the next two weeks.

Education is allocated ₦155.21 billion, representing 17.40 per cent of the total budget and aligning with UNESCO benchmarks.

Governor Makinde highlighted that the recent recruitment of 12,000 teachers has addressed long-standing manpower deficits, and the new budget will sustain recurrent needs while funding further upgrades of public schools.

The health sector receives ₦70.85 billion, or 7.94 per cent of the budget.

Makinde noted that 100 of 106 primary healthcare centres have been upgraded, with attention now shifting to secondary healthcare facilities, ensuring at least one upgraded centre in each zone before the end of his administration.

Highlighting major investments in aviation, road networks, agro-industrial development, trade facilitation and logistics, Makinde said these projects have positioned Oyo State for a production-led economy.

Key initiatives include the upgraded Samuel Ladoke Akintola Airport, capable of receiving wide-bodied aircraft, the Rashidi Ladoja Circular Road and its development corridor, Special Agro-Industrial Processing Zones, AfCFTA-driven market integration, the Oluyole Free Trade Zone, and dry port and logistics hubs that expand regional and continental trade access.

The governor also referenced the Ibadan Central Bus Terminals at Iwo Road and New Ife Road, now integrated with two earlier terminals to form a state-backed mass transit system.

He described these achievements as part of a vision for an interconnected, investment-ready economy linking infrastructure, human capital, and innovation.

Makinde said the 2026 fiscal plan is designed to deepen ongoing transformation and prepare Oyo State for its 50th anniversary in 2026, themed “Renewal,” recognising the state’s past while recommitting to its future.

He reassured residents affected by the Rashidi Ladoja Circular Road development that progress will remain people-centred, with fairness, consultation, compensation, and resettlement options where necessary.

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Looking toward 2027, Makinde emphasised strengthening institutions, digitising government processes, and entrenching transparency, stressing that true legacy is measured not only by physical projects but by sustainable systems that endure beyond any administration.