Oyo State Governor, 'Seyi Makinde, has officially presented the 2025 Budget proposal, totaling N678.08 billion, to the House of Assembly, emphasizing significant investments in infrastructure and education as key priorities for the state's development.
During a session held at the House of Assembly Secretariat in Agodi, Ibadan, Governor Makinde outlined a budget that allocates 51 percent to capital expenditure and 49 percent to recurrent expenses. He highlighted that infrastructure development will receive N152.27 billion, accounting for 22.46 percent of the budget, a decision derived from community feedback gathered during the stakeholders’ consultative forum.
“We are committed to capitalizing on the economic gains from the 2024 Budget of Economic Recovery to deliver more tangible benefits to our residents,” Makinde stated, expressing optimism that the budget would bring about shared prosperity.
In another development signal, the governor revealed that he had approved the release of N2 billion to accelerate the reconstruction of the 48-kilometer Ido-Ibarapa Road project, aiming to expedite the completion of an additional 12 kilometers. He reassured citizens that the rehabilitation of inner roads in regions outside the state capital is also a priority.
The education sector is set to receive the second-largest share of the proposed budget, with N145.35 billion allocated for its development, representing 21.44 percent. The governor noted that renovations of 105 primary schools under the World Bank-assisted Better Education Service Delivery for All (BESDA) program are nearing completion, and plans are underway to upgrade at least 100 secondary schools. Additionally, 14,500 teachers awaiting employment letters will benefit from a new minimum wage of N80,000.
“Our proposed budget of N678,086,767,332.18 will support the new minimum wage, as well as bolster investments in education, healthcare, and security," he explained, framing the budget as an essential tool for economic stabilization and sustainable development for 2023-2027.
Governor Makinde highlighted the successful implementation of previous budgets, noting that 118.07 kilometers of roads were completed in the last year alone. He specifically mentioned infrastructure improvements such as the notable Iseyin-Fapote-Ogbomoso road, which has significantly improved mobility for residents.
The transport subsidy introduced under the SAfER initiative has already aided approximately 30,000 residents by reducing transport costs by up to 50%. This initiative, alongside various support programs for farmers and entrepreneurs, underscores the administration's commitment to alleviating economic hardship for the people of Oyo State.
Speaker of the House of Assembly, Rt. Hon. Adebo Ogundoyin, praised Governor Makinde for the detailed financial plan and indicated that the Assembly would ensure prompt yet thorough consideration of the budget proposal.
The presentation was attended by a host of dignitaries, including the Deputy Governor, former officials, and leaders from various sectors, showcasing a unified front in support of the proposed budget for the coming fiscal year.