Oyo State Governor Seyi Makinde unveiled a N678 billion budget proposal for the 2025 fiscal year, dubbed the “Budget of Stabilization.” This figure represents a 35% increase over the 2024 budget.
Key Budget Allocations
* Infrastructure: A significant portion of the budget, 22.46%, is allocated to infrastructure development.
* Education: The education sector receives the second-highest allocation at 21.44%.
* Health: Healthcare is allotted 9% of the budget.
* Agriculture: The agriculture sector receives a 3% allocation.
Rationale for Increased Allocations
Governor Makinde explained that the increased allocations to infrastructure and education are necessary to address existing deficits and fulfill the administration’s ambitious plans. Additionally, the agriculture budget aims to attract private investment and stimulate growth in the sector.
Optimism for the Future
The governor expressed confidence that the 2025 budget will contribute to the state’s sustainable development roadmap and improve the lives of its citizens. Speaker Adebo Ogundoyin echoed this sentiment, praising the administration’s achievements and pledging legislative support for the budget’s swift passage.
