The Oyo State governor, Seyi Makinde, has presented the State House of Assembly with a budget estimate of N678.06 billion for the 2025 fiscal year for legislative consideration and approval.
While capital expenditure in the budget takes 51 per cent of the total budget, recurrent expenditure stands at 49 per cent.
Makinde, in his address before the presentation, tagged the 2025 budget “Budget of Economic Stabilization”.
According to the budget estimate, N343 billion was appropriated for capital expenditures, representing 50.59 per cent of the total budget. In contrast, N335 billion was budgeted for recurrent spending, representing 49.4 per cent of the total budget.
Makinde said N152 billion had been appropriated for the state’s infrastructural development, which, he noted, took the most significant percentage of the budget, 22.4 per cent.
Also, education received N145 billion, which represents 21 per cent of the total budget. Health received N59 billion, meaning 9 per cent, while agriculture received N18 billion, representing 3 per cent of the budget.
The governor added that the 2025 budget proposal represents a 35 per cent increase compared to the 2024
This presentation, made during the state plenary session, outlined an ambitious financial plan that totals N678 billion.
Makinde referred to the proposed budget as an “Appropriation bill” to promote budget stabilisation within the state.
The governor emphasised the importance of prudent financial management and strategic resource allocation to enhance the overall welfare and development of Oyo State.
A key highlight of the presentation was the commitment to extend rehabilitation efforts for feeder roads across various zones in the state.
