Ahead of the 2025 fiscal year, the Oyo state governor, Seyi Makinde, on Wednesday made a budget proposal before the state house of assembly for consideration and eventual passage into a law.
The budget is nicknamed “Budget of Economic Stabilisation”
Here are 7 things you need to know about the 2025 Oyo State budget proposal.
- N678,086,767,322.18: This is the total size of the proposed budget, 35 per cent higher than the 2024 budget.
- N349.29bn: This is the amount earmarked for capital expenditure. It represents 50.59 percent of the total budget.
- N325.57bn: Total amount allocated to recurrent expenditure in the budget. It represents 49.41 percent of the budget.
- N152.26bn: This is the total amount allocated to the infrastructure sector, which is the largest allocation in the 2025 budget. It represents 22.46 percent of the total budget
- N145.26bn: Governor Makinde allocated this amount for education, 21.44 percent of the total budget. It is the second highest grossing sector of the budget.
- N59bn: This is what the health sector gets in the budget proposal. It represents nine percent of the total budget.
- N18bn: The governor also allocated N18bn to the agriculture sector. This is just three percent of the entire budget.
Speaking at the budget proposal presentation, Governor Makinde said: “We pledge to conduct thorough oversight of all government arms to guarantee transparency, accountability, and responsible allocation of resources.
“Let me assure you that we will commence the review immediately to ensure swift passage of the appropriation bill. This, as usual, will lead to prompt implementation and completion of all projects in the coming year.” he assured
