₦330bn Supplementary Budget Passes Second Reading In Oyo Assembly

The Oyo State House of Assembly has commenced legislative consideration of Governor Seyi Makinde's request for a ₦330 billion supplementary budget and budget realignment.

Governor Makinde explained that the proposal had earlier received the approval of the State Executive Council after a review by the Ministry of Budget and Economic Planning, which assessed the funding requirements of the affected Ministries, Departments and Agencies (MDAs) in line with the administration's Roadmap for Sustainable Development (2023–2027).

The supplementary appropriation became necessary following requests from several MDAs for additional funding to ensure the timely execution and completion of ongoing strategic projects and government programmes.

According to the executive communication, the proposal seeks approval for ₦330 billion in supplementary budget and realignment spending, comprising ₦210 billion as supplementary expenditure and ₦120 billion as budget realignment of recurrent and capital allocations.

The proposed expenditure will be directed towards the completion and advancement of major infrastructure projects across the state, including the Circular Road, Ido-Eruwa Road, Airport-Ajia-New Ife Expressway, Saki-Igboho Road, and the Apete-Awotan-Akufo Junction Road.

Other projects expected to benefit from the proposed funding include the ongoing upgrade and remodelling of the Ladoke Akintola International Airport, construction works at the Government House, and statutory obligations such as Consolidated Revenue Fund charges, public debt servicing, loan repayments, and gratuity payments.

The proposal also makes provision for preparations for the forthcoming local government elections scheduled to commence in the third quarter of 2026.

A breakdown of the proposal shows that the ₦330 billion package comprises N35.5 billion for recurrent expenditure, representing 10.76 per cent, and ₦294.5 billion for capital expenditure, representing 89.24 per cent of the proposed spending.

Of the total amount, ₦120 billion is expected to come from the realignment of existing budgetary allocations from MDAs with unutilised provisions, while ₦210 billion will be funded as a supplementary appropriation to the state's 2026 budget.

If approved by the Assembly, the supplementary appropriation will increase the state's 2026 budget from ₦892.09 billion to approximately ₦1.102 trillion.

The Appropriation Bill seeks approval for ₦330 billion in supplementary budget and realignment spending, comprising ₦210 billion as supplementary expenditure and ₦120 billion as budget realignment of recurrent and capital allocations.

Rt. Hon. Adebo Ogundoyin, the Speaker of the House, will now put the bills to a vote, where the members of the assembly are expected to give their approval.

This will mark the next step towards implementing the supplementary budget and ensuring the timely execution of critical infrastructure projects across the state.

The governor urged lawmakers to give the proposal expeditious consideration, noting that the budget adjustment would ensure the uninterrupted execution of ongoing developmental projects, improve service delivery, and sustain the administration's infrastructure-driven development agenda.

Governor Seyi Makinde has been the Governor of Oyo State since 2019. Before becoming the governor, Makinde was a member of the House of Representatives from 2007 to 2011. He served as the Member representing the Abeokuta South/Ifo Federal Constituency.

The Oyo State House of Assembly is a unicameral legislative body composed of 32 members. Each member represents a constituency in the state and serves a four-year term. The current Speaker of the House is Rt. Hon. Adebo Ogundoyin, who was first elected in 2019.

The proposed supplementary budget and realignment spending are aimed at accelerating the execution of critical infrastructure projects across the state. The state has several ongoing projects, including the expansion of the Ladoke Akintola International Airport, construction of major roads, and upgrade of public buildings.

These projects are part of the state's Roadmap for Sustainable Development (2023–2027). The roadmap aims to improve the state's infrastructure, enhance service delivery, and ensure the timely execution of developmental projects.

The proposed supplementary budget and realignment spending will also cover statutory obligations such as Consolidated Revenue Fund charges, public debt servicing, loan repayments, and gratuity payments.

The state's 2026 budget is expected to increase from ₦892.09 billion to approximately ₦1.102 trillion following the approval of the supplementary appropriation. The increase is aimed at supporting the execution of critical infrastructure projects and improving service delivery.

If approved by the Assembly, the supplementary appropriation will be financed from the Consolidated Revenue Fund of Oyo State for the 2026 fiscal year.

Oyo State has a rich history, dating back to the Oyo Empire, which was one of the most powerful empires in West Africa. The state has a diverse culture, with over 20 ethnic groups, including the Oyo, Ibadan, and Ogbomoso.

The state has a strong economy, driven by agriculture, manufacturing, and tourism. Oyo is known for its cashew production, which is a major contributor to the state's GDP.

The state has a reputation for good governance, with Governor Makinde's administration being praised for its commitment to transparency and accountability.

The proposed supplementary budget and realignment spending are aimed at supporting the state's economic growth and development agenda.

The state has several ongoing projects aimed at improving the well-being of its citizens. These projects include the expansion of the Ladoke Akintola International Airport, construction of major roads, and upgrade of public buildings.

The proposed supplementary budget and realignment spending will also cover statutory obligations such as Consolidated Revenue Fund charges, public debt servicing, loan repayments, and gratuity payments.

The state's 2026 budget is expected to increase from ₦892.09 billion to approximately ₦1.102 trillion following the approval of the supplementary appropriation. The increase is aimed at supporting the execution of critical infrastructure projects and improving service delivery.

The state has several major infrastructure projects, including the expansion of the Ladoke Akintola International Airport, construction of major roads, and upgrade of public buildings.

The proposed supplementary budget and realignment spending are aimed at accelerating the execution of these projects and improving service delivery.

This will ensure that the state's citizens have access to quality infrastructure and services, which are essential for their well-being.

The state's economy is driven by agriculture, manufacturing, and tourism. Oyo is known for its cashew production, which is a major contributor to the state's GDP.

The state has a diverse culture, with over 20 ethnic groups, including the Oyo, Ibadan, and Ogbomoso.

Oyo is one of the largest states in Nigeria, with a population of over 5 million people.

The state has a reputation for good governance, with Governor Makinde's administration being praised for its commitment to transparency and accountability.

The proposed supplementary budget and realignment spending are aimed at supporting the state's economic growth and development agenda.

The state has several major infrastructure projects, including the expansion of the Ladoke Akintola International Airport, construction of major roads, and upgrade of public buildings.

The proposed supplementary budget and realignment spending are aimed at accelerating the execution of these projects and improving service delivery.

This will ensure that the state's citizens have access to quality infrastructure and services, which are essential for their well-being.

The state's economy is driven by agriculture, manufacturing, and tourism. Oyo is known for its cashew production, which is a major contributor to the state's GDP.