Oyo State governor, ‘Seyi Makinde, on Wednesday, presented the 2025 Budget Proposal to the state House of Assembly, with infrastructure development and education sector getting the lion’s share.
The governor presented the budget estimate of ₦678,086,767,332.18, saying his administration planned to spend 51 per cent of the proposed budget on capital expenditure, while recurrent expenditure will take 49 per cent.
According to him, infrastructure will get ₦152,265,859,738.19, which represents 22.46 per cent of the total budget estimate.
This, he maintained, was a product of the feedback received from residents of the state across all the geopolitical zones during the stakeholders’ consultative forum organised to get the residents’ inputs into the 2025 Budget.
Makinde added that the state would consolidate the economic gains garnered from the 2024 Budget of Economic Recovery and translate them into more tangible benefits for the people of the state.
As part of the increased infrastructure development drive, he disclosed that he recently approved the release of ₦2 billion to the contractor handling the ongoing reconstruction of the 48-kilometre Ido-Ibarapa Road project to fast-track the completion of another 12 kilometres.
The governor said the rehabilitation of inner roads would soon kick off in other zones outside the state capital as they have been captured in the 2025 Budget Proposal.
Makinde further explained that the education sector has the second highest appropriation in the 2025 Budget Proposal, with ₦145,354,783,399.80, representing 21.44 per cent.
He maintained that the renovation of 105 public primary schools under the World Bank-assisted Better Education Service Delivery for All (BESDA) programme had reached 95 per cent completion.
He added that the government would fix, at least, 100 public secondary schools, while the 14,500 primary and secondary school teachers awaiting their letters of employment would benefit from the new ₦80,000 minimum wage.
Makinde said: “Mr Speaker Sir, honourable members of the House, permit me at this point to present the Oyo State 2025 Appropriation Bill that will support the new minimum wage, and power further investments in our economy, education, healthcare and security sectors.
“We are proposing a budget of ₦678,086,767,332.18). Of this, ₦343,028,948,216.20, which is 50.59 per cent, is for capital expenditure while ₦335,057,819,115.98, which is 49.41 per cent, is for recurrent expenditure.
“Having looked at the data, including current inflation trends and projections for the Year 2025, our Budget of Economic Stabilisation is just about 35 per cent higher than our 2024 Budget of Economic Recovery.
“We kept in mind the fact that we want an implementable budget. As of October, our last budget was at about 65 per cent implementation as of Q3, which is five per cent short of our projection. We believe that our revenue options will support over 70 per cent implementation in 2025.
“Health and agriculture at ₦59,411,385,714.68 and ₦18,760,243,348.45 are about nine per cent and three per cent of the budget, respectively.
“We strongly believe that this budget will live up to its name as the economic stabilisation that will support our Oyo State Roadmap for Sustainable Development 2023-2027.
“Our plan is to bring more smiles into the faces of investors, smallholder farmers, micro and small entrepreneurs, our teachers and other public servants, our parents, our children, our youths and all residents of Oyo State.
“My prayer, Mr Speaker Sir and the honourable members of the House, is that you extend the same hand of fellowship and union that we have enjoyed over the years as you deliberate on the 2025 Appropriation Bill and grant its passage to the benefit of residents of our dear state.”
The governor, while reviewing the performance of the 2024 Budget, declared that 118.07 kilometres of roads were delivered in the last one year.
The roads, he said, included the 76.67km Iseyin-Fapote-Ogbomoso Road named after former Governor Adebayo Alao-Akala and 43.46km of feeder roads, among others, while about 59.52km of feeder roads are ongoing.
“These roads have a tremendous impact on our people. I have seen people from the Ibadan Zone calling to thank us to say what we are doing has eased the way people move around Ibadan.
“So, we will be extending the feeder roads reconstruction and rehabilitation to all other zones under this proposed budget,” Makinde said.
The governor further stated that the transport subsidy introduced under the SAfER initiative in August 2023 has also helped about 30,000 residents to enjoy up to 50 per cent lower cost in transportation on a daily basis, with 75 buses currently operating in intra-city and inter-city routes.
He added that the administration’s determination to help residents recover from economic hardship also saw it providing all sorts of support to thousands of smallholder crop and livestock farmers.
The supports, he said, included farm inputs distribution, low interest loans and tractorisation support, while about 2,085 entrepreneurs received low interest loans to enable them boost their businesses.
in his address, Speaker of the House of Assembly, Rt. Hon. Adebo Ogundoyin, commended Governor Makinde for presenting a comprehensive financial plan for the commencement of the second year of Omituntun 2.0.
He maintained that residents of the state are already benefiting from the administration’s socio-economic initiatives, infrastructural development and economic growth.
Ogundoyin expressed the confidence that the government would build on the successes of the 2024 Budget in the 2025 budget proposal by helping to drive socio-economic growth, foster economic recovery and improve the overall quality of life for residents of the state.
Rt. Honourable Ogundoyin assuring that the House of Assembly would ensure the passage of the budget proposal after a thorough but speedy consideration.
The event had in attendance Deputy Governor Bayo Lawal; former Deputy Governor and PDP Deputy National Chairman (South), Ambassador Taofeek Arapaja; former Deputy Governor Hamid Gbadamosi; former Speaker of the House of Assembly, Senator Monsurat Sunmonu; and Chief Judge of Oyo State, Honourable Justice Iyabo Yerima, represented by Justice M.O Olagunju.
Also in attendance were the Secretary to the State Government, Professor Olanike Adeyemo; Chief of Staff to the Governor, Otunba Segun Ogunwuyi; commissioners, traditional rulers, religious leaders, party members and other top government functionaries.
