Oyo State governor, Seyi Makinde, on Monday, signed the N684 billion 2025 Appropriation Act Into Law, saying his administration had been able to improve the performance of the state’s annual budgets from 30 to 35 per cent to over 70 per cent because it “Engages the whole spectrum of stakeholders in the budget process and has the interests of the state at heart.”
The governor stated this when he assented to the N684 billion 2025 Appropriation Act tagged “Budget of Economic Stabilisation” at a budget signing ceremony held at the Executive Chamber of the Governor’s Office, Secretariat, Agodi, Ibadan.
He said that the government would target 80 per cent budget implementation in 2025, adding that his administration would push for reforms, people-centred policies and economic stability and work for the well-being of residents of the state.
The governor noted that the 2025 budget would also play a key role in stabilising the state’s economy.
He hailed the collaborative relationship between the executive and legislative arms of the state, saying the whole process, including the stakeholders’ engagement meetings, budget preparation, Treasury meetings, and the scrutiny by the lawmakers, took about three months because all stakeholders prioritised the state’s growth.
Governor Makinde also explained that the 2025 Budget includes a provision for the new minimum wage, stating that the latest salary and consequential adjustments will take effect on January 1, 2025.
The governor appreciated labour union leaders and the entire state workforce’s understanding and support regarding implementing the new minimum wage. He reassuringly announced that the government would pay all workers and retirees the 13th month’s salary on December 31, 2024.
He said: “This journey began in September 2024 when we kicked off the budget stakeholders’ meeting in all zones. After meeting and hearing from our people, we prepared the budget and had Treasury Board meetings. It is not just like a yearly ritual.
“I will use this opportunity to thank everybody because we explained it to them. Before we started this minimum wage discussion, we discussed. The budget is almost like the operational manual to run this administration, like the Bible or Quran we put by the side. In addition, whatever you put in there is what you will want to follow through.
“So, if we are saying from nowhere that we should start implementing the minimum wage and consequential adjustment in 2024, it is either we are not faithful to ourselves, or we are not following our laws.’’
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