Amanze ChinonyeOyo State House of Assembly on Thursday approved a supplementary appropriation of ₦299.8 billion, increasing the state’s 2025 budget from ₦684.1 billion to ₦984 billion.
The approval followed a formal request from Governor Seyi Makinde, who cited the need to accommodate rising fiscal demands and priority projects across the state’s critical sectors, including infrastructure, healthcare, education, and agriculture.
Join our WhatsApp ChannelPresenting the supplementary budget proposal earlier this week, the Commissioner for Budget and Economic Planning, Professor Musibau Babatunde, said the revision was necessary to reflect current economic realities and recent funding inflows, including domestic and international support.
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He explained that the additional funding would support the completion of ongoing capital projects and newly introduced government interventions aimed at boosting the state’s socio-economic development.
The initial 2025 budget, signed into law in December 2024, was tagged the “Budget of Economic Recovery,” with ₦684.1 billion allocated to capital and recurrent expenditures. Governor Makinde had promised aggressive infrastructure expansion, youth empowerment initiatives, and healthcare investment as major spending priorities.
With the passage of the supplementary budget, Oyo now joins a growing list of states adjusting their fiscal plans mid-year in response to rising inflation, federal funding gaps, and the need to meet set development targets.
Governor Makinde is expected to sign the revised budget into law in the coming days.
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