Oyo 2026 Budget: Makinde Signs N862bn Appropriation Bill Into Law

Governor Seyi Makinde has signed the Oyo State Appropriation Bill 2026 into law, approving a total budget of N892,085,074,480.79 for the 2026 fiscal year.

The bill was signed on Monday, marking the formal commencement of implementation preparations ahead of January 1, 2026.

Makinde commended the Oyo State House of Assembly for what he described as a people-centered and timely legislative process, noting that the early passage of the budget would ensure smooth execution from the start of the new year.

“Let me commend the Oyo State House of Assembly for putting the people of Oyo State first and ensuring that the bill was passed in time for it to be signed into law and implemented from 1 January 2026,” the governor said during the signing ceremony.

Makinde described the 2026 fiscal plan as the “Budget of Economic Expansion,” explaining that it represents the last full-year budget of his administration.

He said the spending framework reflects his government’s long-term economic philosophy and reform agenda.

Makinde further explained that the budget prioritizes production over consumption, stressing that increased productivity is key to sustainable economic growth and financial independence for the state.

“In it, we have reemphasized consumption and promoted production, as we recognize that productivity will expand our economy further so we can depend less on FAAC,” Makinde added.

The governor maintained that the policy direction embedded in the 2026 budget is aimed at strengthening Oyo State’s internal economic capacity, deepening industrial and agricultural output, and reducing reliance on federal allocations.