Being the 2027 Budget Presentation Speech by His Excellency Seyi Makinde, FNSE, Executive Governor of Oyo State on Tuesday 10 November 2026
Mr Speaker, Honourable Members of this House, this will be the last budget presentation for this administration before this honourable house and I want to start by saying, we have had a great run.
We are proud of each of the plans we have put before this house. And as we prepare to hand over the baton to the next administration, we bring before you the 2027 Budget of Sustained Progress – a budget designed to consolidate our gains, sustain public services and carry Oyo State’s development forward through the transition and beyond.
Mr Speaker Sir, Honourable Members of the House, please allow me to go down memory lane.
From our first day in government, we took both practical and symbolic steps to show our people that this was a new order. We removed the ₦3,000 education levy that parents had to pay for senior secondary school students, and we opened the Freedom Bridge that leads into the Secretariat, a gesture that said, we are accessible, we are open, this is your government.
Our broader strategy for our first four years was to get our economy going through our Oyo State Roadmap for Accelerated Development 2019-2023. So, one of the first projects we completed within two years of assuming office was the 65 km Moniya–Ijaiye–Iseyin Road. We needed to link two corridors quickly: our consumption corridor and our production corridor.
We understood that farmers could not prosper if they could not get their produce to market. Businesses could not expand if moving goods was too expensive. And communities could not fully participate in our economy if they remained disconnected.
We prioritised agriculture because this was an area of comparative advantage. We knew that if we wanted to lift our people out of poverty, we needed to move beyond subsistence farming and support agriculture as a business.
So, we established the Oyo State Agribusiness Development Agency (OYSADA) and used that agency to drive development in the sector.
Today, we have the Oyo State Agribusiness Transformation Centre, Fasola, designated the first agricultural transformation centre in Nigeria by the African Development Bank, which has generated over 1,000 direct and indirect jobs. These were jobs that did not exist while that site remained undeveloped for over three decades.
We have 16 agribusinesses with investments worth over ₦20 billion. Eight years ago, none of that existed at that site.
At the same time, to support our smallholder farmers, we biometrically captured over 30,130 farmers. With their details in our database, we were better able to provide support and interventions over the years.
Our collaborations with the World Bank, the African Development Bank and other development partners have supported programmes such as the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES), the Livestock Productivity and Resilience Support Project (L-PRES), and the Special Agro-Industrial Processing Zones programme (SAPZ).
These partnerships reflect a deliberate approach: use public investment to create the conditions for businesses to grow, while working with partners to extend the reach of our resources.
Mr Speaker Sir, Honourable Members of the House, I am taking us down memory lane because when we make progress, it is easy to forget where we are coming from.
And we have made progress.
As I always say, we met a state in the trenches. We rolled up our sleeves and got to work. And now, we can again raise our heads high and proclaim: Àjísẹ́bí Ọ̀yọ́ là ń rí!
I could give you numbers.
I could tell you that we have grown our internally generated revenue by over 288%, from ₦26.59 billion in 2019 to ₦103.25 billion in the last full financial year, 2025.
I could tell you that Oyo State ranked third in Nigeria in the 2025 Subnational Ease of Doing Business assessment.
I could also tell you that, through our education interventions and partnerships, we have brought about 65,000 out-of-school children back into our classrooms.
I could say to you that Oyo State is the first subnational to become a party to the African Continental Free Trade Area Agreement.
But I do not believe that figures alone would be a complete assessment of our administration.
After more than seven years, a greater measure of success is the impact we have made on the lives of the good people of Oyo State, and the institutions we have built to serve them beyond 2027.
So, I can talk about people who have shared their experiences of our governance.
People like Mr Ogundipe, a lawyer who applied for a position in our anti-corruption agency and was shortlisted among the top three candidates without a godfather.
Or Kunle, who says that you can walk into the Ministry of Agriculture and Rural Development, ask for assistance and find people willing to help.
Or Lasisi, whose mother was promoted to Grade Level 16 after we addressed the outstanding promotion issues affecting our civil servants.
These experiences matter.
They tell us whether the policies we approve in government offices are making a difference outside those offices.
We are not just talking about reforms. We are showing our people that Oyo State can work for them.
And we have continued that work in 2026.
We formally inducted 3,933 newly recruited primary healthcare workers, strengthening the workforce needed to turn our investments in healthcare facilities into services for our people.
We also recorded the completion of the 8.43-kilometre Fasola Farm Settlement Road and rural market projects in Akanran, Iseyin and Ibarapa Central under the Rural Access and Agricultural Marketing Project (RAAMP).
These investments connect different parts of the same economic system: the farmer, the enterprise, the road and the market.
This is how we have approached development. And this is the approach we must sustain. And this is why we have provided the next administration with the “Roadmap for Continued Development 2027 and Beyond” and are partly supporting them with the 2027 Budget of Sustained Progress. As I stated recently, our administration will be the first administration in the history of Oyo State democratic governance to formally hand over to a new administration. We hope that the good people of Oyo State will transfer the trust they have given us for the last 7+ years to the candidates we recommend for continuity Omituntun 3.0. Whatever the case, we will hold that formal handing over.
Mr Speaker Sir, Honourable Members of the House, as usual, we held consultations across the seven geopolitical zones of our dear State.
We listened to our people. We heard their priorities, their concerns and their expectations.
The budget before you reflects those conversations and our responsibility to plan for the continued development of Oyo State.
Today, I am pleased to present our proposed 2027 Budget of Sustained Progress, with a total expenditure of One Trillion, One Hundred and Fifteen Billion, Three Hundred and Forty-One Million, Three Hundred and Seventy-Eight Thousand, Three Hundred and Fifty-Nine Naira, Ninety Kobo (₦1,115,341,378,359.90)—approximately ₦1.1 trillion.
Of this amount, Six Hundred and Seventy Billion, Thirty Million, Nine Hundred and Forty-Three Thousand, Six Hundred and Forty-Six Naira, Forty-Five Kobo (₦670,030,943,646.45), representing 60.07%, is allocated to capital expenditure.
The remaining Four Hundred and Forty-Five Billion, Three Hundred and Ten Million, Four Hundred and Thirty-Four Thousand, Seven Hundred and Thirteen Naira, Forty-Five Kobo (₦445,310,434,713.45), representing 39.93%, is allocated to recurrent expenditure.
This means that approximately ₦60 out of every ₦100 proposed in this budget is directed towards capital investment.
At the same time, we recognise that public infrastructure requires people and resources to function. Schools need teachers. Hospitals need health workers, medicines and equipment. Public institutions need capable personnel and the resources to deliver their mandates.
Our responsibility is to provide for both the assets and the services our people need.
In keeping with our priorities under the Oyo State Roadmap for Sustainable Development 2023-2027, the proposed sectoral allocations include the following:
Infrastructure receives Two Hundred and Thirty-Six Billion, One Hundred and Forty-Eight Million, Nine Hundred and Thirty-Three Thousand, Four Hundred and Forty-Four Naira, Seventy-Six Kobo (₦236,148,933,444.76), representing 21.17% of the total budget.
Our focus remains on infrastructure that connects communities, supports production and trade, and improves access to opportunities. We must also protect the value of the infrastructure we have already built through proper maintenance.
Education receives One Hundred and Ninety Billion, Five Hundred and Twenty-Five Million, Two Hundred and Thirty-Four Thousand, Nine Hundred and Sixty-Nine Naira and Seventy-Seven Kobo (₦190,525,234,969.77), representing 17.08% of the total budget.
This is within the UNESCO education financing benchmark of 15–20% of public expenditure. Our responsibility is to sustain access to education while improving the conditions in which our children learn and our teachers work. We must continue to support the institutions preparing our young people for employment, enterprise and service.
Healthcare receives Nine Three Billion, Eleven Million, Nine Hundred and Nine Thousand, One Hundred and Ninety-Four Naira, Sixty-Nine Kobo (₦93,011,909,194.69), representing 8.34% of the total budget.
We will continue to strengthen healthcare delivery through the people, facilities and systems needed to provide accessible and dependable care.
Energy and Mineral Resources receives Sixty-Nine Billion, Three Hundred and Seventy-Three Million, Three Hundred and Ninety-Seven Thousand, Ninety-Four Naira, Eighteen Kobo (₦69,373,397,094.18), representing 6.22% of the total budget.
Reliable energy remains essential to productive businesses and effective public services. We will continue the work of strengthening the institutions and infrastructure needed to support investment in the sector.
Agriculture receives Twenty-Three Billion, Eight Hundred and Forty-Seven Million, Four Hundred and Fifty-Seven Thousand, One Hundred and Twenty-Three Naira, Eighty-Five Kobo (₦23,847,457,123.85) representing 2.14% of the total budget.
This direct allocation will complement relevant investments in infrastructure and other sectors that support agricultural production, processing and access to markets.
Meeting these projections will require discipline in revenue administration, expenditure management and implementation.
We must continue to improve compliance, close revenue leakages and make it easier for people to fulfil their obligations to the State.
We must also ensure that financing decisions are properly assessed and that public resources are applied to the purposes for which they are approved.
This will be our final budget presentation, but the budget itself covers a full financial year.
Our administration will implement part of it before handing over on 29 May 2027. The responsibility for the remainder will pass to the next administration.
That places a particular duty on us.
We must leave clear records, properly documented commitments and institutions capable of sustaining service delivery through the transition.
The good people of Oyo State should continue to receive public services throughout that process. Our workers should continue to do their jobs. And the investments we have made must continue to serve their intended purposes.
Mr Speaker Sir, Honourable Members of the House, I thank you for your partnership over the years.
We have had different responsibilities, but we have shared an obligation to the people who entrusted us with public office.
I also thank our public servants, traditional institutions, development partners, the private sector and the good people of Oyo State for their contributions to the progress we have made.
We still have work to do, and we will continue to do it until our last day in office.
When we leave, my hope is that our people will be able to point to more than projects.
They will be able to point to institutions they can trust, opportunities they can access and a State Government that responds to their needs.
On that note, Mr Speaker Sir, Honourable Members of the House, I hereby lay before you the proposed 2027 Oyo State Budget of Sustained Progress, totalling One Trillion, One Hundred and Fifteen Billion, Three Hundred and Forty-One Million, Three Hundred and Seventy-Eight Thousand, Three Hundred and Fifty-Nine Naira, Ninety Kobo (₦1,115,341,378,359.90), for your consideration and passage.
Thank you, and God bless Oyo State.