Seyi Makinde Unveils ₦891.99 Billion 2026 Budget: “Budget of Economic Expansion”
Oyo State Governor, Seyi Makinde, has presented the 2026 Appropriation Bill totaling ₦891.99 billion, tagged the “Budget of Economic Expansion.” The budget reflects the administration’s long-term vision of strengthening economic productivity, expanding infrastructure, and improving social services across the state. With its ambitious allocations and strategic priorities, the budget underscores Makinde’s commitment to consolidating previous achievements while charting a sustainable path for Oyo State’s future.
A Bold Step Toward a More Prosperous Oyo State
The proposed 2026 budget is one of the largest in the state’s history, demonstrating the government’s confidence in improved revenue mobilization and responsible fiscal planning. Governor Makinde emphasized that the budget is designed to stimulate economic growth, attract investment, and enhance the overall quality of life for citizens.
The fiscal plan focuses on several core pillars: infrastructure expansion, education, healthcare delivery, agribusiness, industrial development, and rural transformation.
Infrastructure Development as the Engine of Growth
Infrastructure continues to take center stage in Makinde’s development agenda, and the 2026 budget dedicates significant resources to:
Road Construction and Rehabilitation
The government plans to intensify the construction and rehabilitation of major and rural roads. These road projects are expected to improve mobility, reduce transportation costs, and boost commercial activities across the state’s urban and rural communities.
Enhancement of Industrial Zones and Economic Corridors
The budget prioritizes upgrades in industrial estates and economic corridors, particularly areas with high potential for commercial and manufacturing growth. By strengthening these zones, the state hopes to attract more businesses and private investors.
Public Transportation and Power Distribution Partnerships
The government aims to expand public transportation systems and deepen collaborations with private partners to ensure more reliable power supply to critical industrial clusters.
Agriculture and Agribusiness Remain Central to Economic Expansion
Agriculture is one of Oyo State’s strongest economic sectors, and the 2026 budget positions agribusiness as a key growth driver. The government will invest in:
- Modern farming technology and tools
- Agribusiness training centers
- Farm-to-market link roads
- Youth-focused agricultural empowerment programmes
These investments align with Makinde’s ambition to make Oyo State a major agribusiness hub in Nigeria.
Strengthening Education and Human Capital Development
Human capital development remains a cornerstone of the governor’s agenda. The 2026 budget provides significant support for:
- Renovation and construction of school infrastructure
- Recruitment and capacity-building for teachers
- Digital learning initiatives and ICT integration
- Scholarships and financial support for indigent students
The government recognizes that an educated and skilled population is essential for sustained economic growth.
Healthcare Sector to Receive Expanded Attention
The 2026 budget enhances investments aimed at improving healthcare access and strengthening medical facilities statewide. Key areas include:
- Rehabilitating primary healthcare centres
- Procuring modern medical equipment
- Expanding the health insurance scheme to reach more residents
- Recruiting additional healthcare professionals
The administration’s objective is to deliver accessible, efficient, and affordable healthcare services, thereby reducing preventable ailments and strengthening public health.
Industrial Growth and Job Creation
To reduce unemployment and stimulate economic activity, the budget emphasizes:
- Support for small and medium-scale enterprises (SMEs) through grants and soft loans
- Expansion of industrial parks
- Strengthening public-private partnerships in manufacturing and technology
- Skills acquisition programmes aimed at youths and women
The state aims to create an enabling environment where businesses can thrive and employment opportunities can grow.
Commitment to Sustainable and Inclusive Development
Governor Makinde’s budget also pays attention to environmental sustainability and urban development. The plan includes:
- Urban renewal and modernization projects
- Improved waste management and sanitation systems
- Promotion of environmentally friendly farming practices
- Expansion of green and open spaces
The administration seeks to create a cleaner, healthier, and more organized environment for residents.
Boosting Internally Generated Revenue (IGR) for Fiscal Stability
With growing developmental demands, the government intends to enhance its internally generated revenue without imposing unnecessary burdens on residents. Strategies include:
- Digitalizing tax and revenue systems
- Expanding the tax net by capturing informal sector contributions
- Encouraging private sector-driven revenue initiatives
- Strengthening monitoring and accountability systems
The goal is to build a financially resilient state capable of funding key projects sustainably.
Stakeholder Expectations and the Path Forward
The unveiling of the “Budget of Economic Expansion” has generated widespread interest among citizens, stakeholders, and civil society groups. Many view the budget as a transformative blueprint capable of elevating Oyo State’s social and economic landscape. However, they also emphasize the importance of transparent implementation, efficient budget tracking, and accountability.
As the state approaches the 2026 financial year, Governor Makinde’s administration is expected to match its ambitious plans with effective execution to ensure that the benefits of the budget reach all communities.
Conclusion
Governor Seyi Makinde’s ₦891.99 billion 2026 budget sets a clear vision for inclusive and sustained economic development. By prioritizing infrastructure, education, healthcare, agriculture, and industrial growth, the administration aims to build a more prosperous and competitive Oyo State. If implemented effectively, the “Budget of Economic Expansion” could mark a significant milestone in the state’s developmental history.