Oyo State generated ₦406.9 billion in recurrent revenue in the first half of 2026, representing 91.2 per cent of its target for the period, just as it expended ₦345.7 billion, which is 77.5 per cent of its expenditure target for the same period.
Secretary to the State Government (SSG), Professor Musibau Babatunde, disclosed this in Ibadan while presenting the 2026 Half-Year Budget Implementation Report on Revenue and Expenditure to stakeholders at the Local Government Staff Training School, Secretariat, Agodi.
He also announced that the government will soon take delivery of 50 electric buses to improve public transportation and reduce commuting costs for residents.
Oyo State and its H1 2026 budget performance
He said the budget performance review across ministries, departments, and agencies was aimed at assessing revenue generation and expenditure, while identifying areas requiring greater government attention.
Babatunde added that the review also covered projects nominated by residents during town hall meetings, noting that, while some projects have commenced, others will begin before year-end.
Responding to a question on the higher budget allocation to infrastructure and education, the SSG emphasised that projects in other sectors often overlap with these major sectors, making the allocation necessary.
“The review is to track the 2026 budget, to measure achievements in revenue and expenditure, and to explore ways of improving Oyo State’s fiscal sustainability.
“This will enable the government to channel more resources into sectors that need greater support, ensuring better budget performance.
“As part of Governor Seyi Makinde’s promises during the state’s 50th anniversary celebration, Oyo will soon take delivery of 50 electric buses.
“These will be distributed across local government areas, while others will serve inter-city and intra-city routes, helping to reduce transportation costs,” Professor Babatunde added.
In his opening remarks, Commissioner for Budget and Economic Planning, Mr Ayobami Ojo, attributed the strong budget performance to prudent financial management, improved revenue mobilisation, and the dedication of public servants.
He highlighted that the 2026 Budget was developed through a participatory process guided by global best practices.
Ojo commended Governor Makinde for supporting institutional reforms that have positioned Oyo as one of Nigeria’s leading sub-national governments in transparency and accountable financial management. He stressed that the budget performance presentation reflects the governor’s commitment to keeping citizens informed on how public resources are mobilised and spent.
Delivering her goodwill message, the Head of Service, Dr. (Mrs.) Adenike Fasina, mni, said the mid-year report was necessary to evaluate progress on the 2026 Appropriation Act.
She urged revenue ministries to block leakages and ensure transparency in their operations.
Permanent Secretary, Ministry of Budget and Economic Planning, Mr. Tunde Ayanleke, assured that subsequent quarters would prioritise basic education and primary healthcare.
He emphasised that the budget monitoring committee will continue monthly reviews to ensure desired results.
Executive Assistant to the Governor on Finance, Budget and Economic Planning, Alhaji Gafar Bello; President, Multidisciplinary Financial Professionals, Dr. (Prince) Oyebade Oyedepo, FCA; and Head of Democracy and Governance, Justice, Development and Peace Commission, Mr. Jide Bamgbose, commended the government for involving stakeholders in the budget process.
Recall that Governor Makinde had once declared that Oyo State would be different, adding that the 2026 Budget for the state de-emphasised consumption, but rather focused on increasing production.
The governor made the declaration shortly after signing the 2026 Appropriation Bill into law in December 2025, noting that production was the best way to expand the economy of the state.
Makinde had also said then that the state was peculiar with a lot of history surrounding it, assuring that his administration must dare to be different by being productive.
The governor had urged the state to be less dependent on federal allocation, ans called on all stakeholders to work in line with the laid down patterns to achieve the full implementation of the 2026 Budget for the benefit of residents in the state.
According to him, the present administration in the state has maintained a realistic budgetary process, achieving improved budget performance over the last six years.
