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Since Governor Seyi Makinde took office in 2019, his consistent budget presentations to the State Assembly have yielded remarkable results, transforming Oyo State into a hub of accelerated and sustainable development. The governor’s efforts have been evident in various sectors, including education, healthcare, infrastructure, and agriculture.
Governor Seyi Makinde of Oyo State has presented a budget estimate of N678.086 billion for the 2025 financial year to the State House of Assembly. This budget, tagged the “Budget of Stabilisation”, aims to consolidate the economic gains made through the 2024 Budget of Economic Recovery and translate them into more tangible benefits for the people.
It is part of Governor Makinde’s strategic vision, which has guided the state’s development since 2020, with previous budgets titled “Budget of Accelerated Development” (2020), “Budget of Continued Consolidation” (2021), “Budget of Growth and Opportunities” (2022), “Budget of Sustainable Development” (2023), and “Budget of Economic Recovery” (2024). These budgets have served as milestones, measuring the state’s progress toward achieving its economic goals.
The 2025 budget will reflect stakeholders’ submissions, ensuring their concerns and ideas are incorporated into the state’s development plans.
The 2025 budget is said to be a Budget of Economic Stabilization. Governor Makinde’s commitment to sustainable development is evident in his administration’s strategic planning and budgeting. The sum of 678.06 billion Naira was submitted to Oyo State House of Assembly for passage as the state’s 2025 budget. Capital expenditure would get 343 billion Naira at 50.59% while recurrent expenditure would gulp 335 billion Naira at 49.41% of the budget which is 15% higher than last year’s.
145 billion Naira would be allocated to Education sector as the second highest percentage after Infrastructure which has 152 billion Naira at 22.46%, Health would get 59 billion Naira at 9% and Agriculture 18 billion naira at 3%. By prioritizing critical sectors and investing in infrastructure, education, healthcare, and agriculture.
To address socio-economic challenges and ensure sustainable development, the Oyo State government launched ‘Agenda 2040’ in September 2024, a 20-year development plan alongside a 5-year medium-term plan. This comprehensive strategy tackles population growth and infrastructure demands, refocusing the state toward progress. From economic growth that positions Oyo State as a hub for investment and economic development to infrastructure development; upgrade of roads, transportation, and energy supply to support growth; educational excellence by enhancing educational standards through qualitative basic, secondary, non-formal, and tertiary education; provision of accessible, affordable healthcare services, especially for the needy.
The 2025 budget aligns with Governor Seyi Makinde’s strategic vision, which has guided the state’s development since 2020. Previous budgets have laid the groundwork, with titles reflecting the administration’s focus; these budgets serve as milestones, measuring the state’s progress toward achieving its economic goals as Oyo State is poised for continued growth and prosperity.
Oyo State’s 2025 budget promises to be a reflection of the people’s needs and concerns, with the government’s commitment to citizen-centric budgeting and inclusive governance.
Bashorun Saint Abbey is member of GSM Advocates
