(DDM) – Oyo State Governor Seyi Makinde is set to sign the ₦892 billion 2026 Appropriation Bill into law on Monday, marking a critical phase in the state’s fiscal and development planning.
The 2026 budget, officially titled the “Budget of Economic Expansion,” was recently passed by the Oyo State House of Assembly after weeks of legislative scrutiny and stakeholder consultations.
Government officials describe the budget as a strategic framework designed to accelerate economic growth, expand infrastructure, and consolidate social investment programmes across the state.
DDM gathered that the proposed spending plan reflects the administration’s commitment to sustaining economic momentum while addressing emerging fiscal pressures.
The budget places significant emphasis on capital expenditure, with allocations targeted at road construction, healthcare upgrades, education infrastructure, and agricultural development.
According to government sources, the capital component is intended to stimulate job creation, improve productivity, and attract private sector investment into key sectors of the Oyo economy.
Recurrent expenditure has also been carefully structured to accommodate salaries, pensions, and operational costs, while maintaining fiscal discipline and debt sustainability.
Governor Makinde has repeatedly stressed that the 2026 budget aligns with his administration’s broader vision of inclusive growth and long-term economic resilience.
The Governor noted that the “Budget of Economic Expansion” builds on gains recorded in previous fiscal years, particularly in internally generated revenue and infrastructural development.
Lawmakers who participated in the budget review process said the document reflects realistic revenue projections and prioritises projects with direct impact on citizens’ welfare.
They added that oversight mechanisms have been strengthened to ensure transparency, accountability, and value for money in budget implementation.
Economic analysts observe that the timing of the budget signing is significant, as states across the federation grapple with inflationary pressures and fluctuating federal allocations.
Oyo State officials, however, expressed confidence that improved revenue mobilisation strategies and prudent financial management will support effective implementation.
The administration has also pledged to maintain open communication with the public by publishing periodic budget performance reports.
Civil society groups and policy experts have welcomed the focus on economic expansion but urged the government to ensure equitable distribution of projects across urban and rural areas.
They stressed that infrastructure development must be complemented by social interventions that address poverty, youth unemployment, and access to quality public services.
Diaspora Digital Media reports that the 2026 budget also makes provisions for environmental sustainability, security enhancement, and digital transformation initiatives.
The signing ceremony is expected to take place at the Governor’s Office in Ibadan, with top government officials, lawmakers, and key stakeholders in attendance.
Following the signing, ministries, departments, and agencies are expected to commence implementation in line with approved timelines and expenditure ceilings.
Governor Makinde is anticipated to reiterate his administration’s resolve to translate budgetary figures into tangible outcomes for residents of the state.
Observers believe that the success of the 2026 budget will significantly shape public perception of the government’s performance ahead of future political milestones.
As Oyo State enters another fiscal year, attention will remain focused on execution, efficiency, and the ability of the government to deliver measurable economic gains.
The ₦892 billion spending plan represents one of the largest budgets in the state’s history, underscoring the administration’s ambitious development agenda.
Residents and stakeholders will be watching closely to see whether the promises embedded in the “Budget of Economic Expansion” translate into improved livelihoods and sustainable growth across Oyo State.