Makinde Proposes ₦1.12tn Appropriation Bill for 2027 Fiscal Year

Oyo State Governor, Seyi Makinde, has presented a proposed ₦1.12 trillion appropriation bill for the 2027 fiscal year to the state House of Assembly, with infrastructure, education and healthcare receiving significant allocations.

The governor presented the proposal on Tuesday, November 10, 2026, during a special plenary session at the Assembly complex in Ibadan.

Tagged the “Budget of Sustained Progress,” the proposed estimates stand at ₦1,115,341,378,359.90 and are designed to consolidate the achievements of his administration while sustaining ongoing development projects and public services.

According to the governor, approximately ₦670.03 billion, representing 60.07 per cent of the total budget, is earmarked for capital expenditure, while ₦445.31 billion, representing 39.93 per cent, is allocated to recurrent expenditure.

Infrastructure received the largest sectoral allocation of ₦236.15 billion, representing 21.17 per cent of the proposed budget. Education follows with ₦190.53 billion, while healthcare is allocated ₦93.01 billion.

The energy and mineral resources sector is expected to receive ₦69.37 billion, while agriculture has an allocation of ₦23.85 billion.

Makinde said the budget was developed after consultations with residents and stakeholders across the state’s seven geopolitical zones, adding that their priorities and expectations informed the spending plan.

He also disclosed that Oyo State’s internally generated revenue had increased from ₦26.95 billion in 2019 to ₦103.25 billion in 2026.

The governor further claimed that his administration had returned more than 65,000 out-of-school children to classrooms through its education interventions.

Makinde described the proposal as particularly significant because it is the final annual budget of his administration, which is expected to end on May 29, 2027.

He acknowledged that his government would implement only part of the full-year budget before handing over to the next administration, which would be responsible for the remaining months of the fiscal year.

He urged lawmakers to subject the estimates to proper consideration while ensuring that any adjustments reflected the needs and interests of residents.

In his remarks, Speaker of the House of Assembly, Adebo Ogundoyin, assured the governor that the legislature would give the proposal the necessary scrutiny.

He said the budget presented an opportunity to consolidate existing development programmes and strengthen the foundation for sustainable growth across the state.

The proposed appropriation bill will now undergo legislative consideration before its possible passage into law.