Oyo State Governor, ‘Seyi Makinde, on Monday signed the N684 billion 2025 Appropriation Act, tagged the “Budget of Economic Stabilisation.” Speaking at the signing ceremony held in the Executive Chamber of the Governor’s Office in Ibadan, Makinde attributed the improved budget performance in the state—from 30–35% under previous administrations to over 70%—to an inclusive budgeting process that involves stakeholders and prioritizes the state’s development.
The governor announced that the 2025 budget aims for an 80% implementation rate, emphasizing reforms, people-centered policies, and economic stability. He highlighted that the budget includes provisions for the new minimum wage, which will take effect from January 1, 2025, and reassured workers that the government would pay the 13th-month salary on December 31, 2024.
“This budget is more than a financial document; it’s an operational manual guiding our administration,” Makinde said. “We prepared this budget after extensive consultations with stakeholders across all zones, ensuring that it reflects the aspirations of our people.”
Makinde praised the collaboration between the executive and legislative arms, which enabled the budget’s passage within three months. He noted that the Assembly spent six weeks scrutinizing the document, reflecting a shared commitment to Oyo State’s growth.
The governor also addressed the challenges of 2024, encouraging residents to remain hopeful. “Despite the tough year, we are pushing forward with reforms and policies to stabilize our economy. This budget is key to achieving our goals, and I urge everyone to support this administration,” he said.
Makinde called for continued transparency and engagement with citizens, assuring residents that grievances would be addressed without bias. “Our administration has been open and fair, reinstating workers unfairly dismissed and emphasizing dialogue with all aggrieved parties.”
Legislative Support and Budget Priorities
The Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, lauded the upward review of the budget from N678 billion to N684 billion, describing it as a strategic move to address emerging priorities. He commended Governor Makinde’s achievements, including workforce expansion and investments in infrastructure, education, and workers’ welfare.
Ogundoyin stated, “This budget lays a solid foundation for unprecedented growth and development in Oyo State, ensuring that critical projects and the new minimum wage implementation are prioritized.”
Dignitaries in Attendance
The signing ceremony was attended by notable figures, including Deputy Governor Barr. Abdulraheem Bayo Lawal; PDP Deputy National Chairman (South) Ambassador Taofeek Arapaja; former deputy governors Engr. Hamid Gbadamosi and Barr. Hazeem Gbolarumi; and Chief Mrs. Mutiat Ladoja, wife of a former Oyo State governor. Other dignitaries included members of the Oyo State House of Assembly, religious and traditional leaders, labor union representatives, and top government officials.
With the 2025 budget in place, Governor Makinde reaffirmed his administration’s commitment to fostering economic growth, improving infrastructure, and enhancing the quality of life for Oyo State residents.
