The Oyo State government has presented a budget proposal of #891.9 billion for 2026, with a focus on economic expansion.
The budget, tagged "Budget of Economic Expansion", was presented by the Governor, and allocates significant resources to key sectors
The budget breakdown reveals that Capital Expenditure stands at #502 billion, accounting for 56% of the total budget, while Recurrent Expenditure is #381 billion, making up 43%. A closer look at the sectoral allocation shows Infrastructure getting the largest share at 23.5%, followed by Education at 17.5%, Health at 7.9%, and Agriculture at 2.24%.
Notably, Infrastructure saw a slight increase from 22% last year, while Education experienced a decline from 21% despite the growing number of out-of-school children. Health and Agriculture also witnessed declines in their allocations.
Several flagship projects are already underway, including road construction and upgrades, which are expected to boost trade and commerce.
The governor makinde emphasized the importance of security, stating that the state's security apparatus is robust and capable of maintaining peace and stability.
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