Governor ‘Seyi Makinde of Oyo State has declared the state’s 2026 Budget has deemphasised consumption and is focused on increasing production, as that remains the best way to expand the economy of the state.
The governor stated this on Monday, shortly after signing the 2026 Appropriation Bill into Law, calling on all stakeholders in the state to work consistently in line with the laid down patterns so as to achieve the full implementation of the 2026 Budget for the benefit of Oyo State residents.
In another related development in Benue State, Governor Hyacinth Alia on Monday presented the state’s 2026 Budget estimates totaling six hundred and five billion, five hundred and six million, seven hundred and sixty-four thousand, and sixty-six naira, sixteen Kobo (N605,506,764,066.16K), before the members of the Assembly, in Makurdi, for consideration and approval.
Addressing members at the Benue State House of Assembly Complex, Governor Alia explained that the 2026 budget titled “Budget of Rural Development, Livelihood Support and Sustained Growth,” is a deliberate strategy aimed at repositioning the state’s economy, and to improve the living standards of the people of the State.
Meanwhile, Governor ‘Seyi Makinde, who made this call at the budget signing ceremony held at the Executive Chambers of the Governor’s Office, Secretariat, Ibadan, stated that his administration has maintained a realistic budgetary process and has achieved improved budget performance over the last six years.
He noted that the aim of the N892 billion 2026 Budget is to engender genuine growth by ensuring lesser dependence on federal allocations, saying, however, the state government might come up with a supplementary budget in the course of the year, if there is a financial surplus or if some of the ongoing economic landmark projects begin to yield fruits.
He said: “This budget that has just been signed into law is the last full year budget of this administration. When we came in 2019, the budget we met was prepared by another administration. We reduced the budget by about 25 per cent.
“This was because when we looked at the track record over the years and what was the percentage of implementation, it was around 37 per cent.
“So, we thought it was better to cut our coat according to our material. After we did that, Oyo State began to experience improved budget performance.
“For us, this 2026 budget has deemphasised consumption. We are in an environment where there is a lot of history around us. We dare to be different and we want to be productive.
“We want to expand our economy and depend less on federal allocation, because that is the only path that can bring about sustainable growth for us.
“In our effort to focus more on production rather than consumption, we approached the federal government around 2021 to get the approval to fix the Oyo-Iseyin Road, because we have the Fasola Farm Estate around the axis but it is a federal road.
“It took the federal government two years to give us approval to fix the road. But the Fasola Farm Estate is extremely important to the Oyo State economy. We have since have fixed the road and we have seen the activities springing up there. So, we dare to be different in Oyo State.
“People may say we are standing alone. Yes, we will continue to stand alone if we are sure we are standing in the right place. That’s why we are Oyo people. The history behind us is that we will do our own thing.
“That’s exactly what we have done with the budget. We are ensuring that we can consume according to what we can produce. But when we expand what we can produce, we can consume more on that basis.
“Finally, I am on my way out and I have one more budget to present but I won’t be the one to implement the budget to the end. I will implement it till May 29th.
“So, what I am asking for is for us to work together so that the implementation of this budget will follow the consistent pattern we have developed over these past six plus years so that Oyo State people can get the full benefits of this.
“I promise the people of Oyo State that we will serve them till the last minute of the last day. This is one of the critical areas we can maintain the service to the people.
“If peradventure, we get into the middle of the year and we have some surplus, some windfall or some of the engagement that we are having, if it should yield something better, we will come back to the House of Assembly to present a supplementary budget.
“We may still get to the N1trn mark but we won’t get there magically. We will get there through data and logic.”
Governor Makinde also used the occasion to appreciate stakeholders in the state, including the Oyo State House of Assembly, traditional rulers, labourunions and residents for their support over the years, stating that everyone has always put the interest of the state above other considerations.
“I will like to thank the House of Assembly. We have all worked very hard to move the state forward.
“Let me also appreciate our traditional rulers. We couldn’t have known what you need in various zones. We can sit down at the Secretariat claiming to know some things but when we hear directly from you and you participate, it is a totally different outcome. So, we appreciate you.
“I also want to thank everyone who has supported this administration including the labour unions. It has been a peaceful relationship between us. Thank you for letting the world know that, here, it is our state first but not about political party.”
Speaking before presenting the 2026 Appropriation Bill to the governor for assent, the Speaker, Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, said the House of Assembly ensured the timely passage of the bill in line with financial global practices.
He noted that the lawmakers ensured the 2026 Budget, which he described as bold and daring, will directly impact the quality of life for the people, adding that the swift but conscientious passage is a testament to the synergy between the executive and legislative arms of government.
He commended Governor Makinde for his unprecedented achievements in terms of recruitment of more workers both in the public and civil service, assuring him of the lawmakers’ support for policies and programmes that drive economic growth, improve infrastructure, and enhance the overall quality of life of the citizens.
He further assured the legislative arm would continue to perform its oversight duties effectively to ensure that the budget is fully implemented, and that every kobo allocated translates into real value for their constituents.
Earlier in his remarks, the Commissioner for Budget and Economic Planning, Prof. Musibau Babatunde, said the 2026 budget would centre on productive and transformational projects that will transform the state into a global economic landmark.
The event had in attendance a former Governor of Oyo State and the Olubadanof Ibadanland, His Imperial Majesty, Oba Rashidi Ladoja; Deputy Governor of Oyo State, Barr. Abdulraheem Bayo Lawal; former deputy governors of Oyo State, Engr Hamid Gbadamosi and Barr. Hazeem Gbolarumi.
Also in attendance were the Alaafin of Oyo, Oba Akeem Owoade; former Speaker, Oyo State House of Assembly, Senator Monsurat Sunmonu; Chairman, House Committee on Finance and Appropriation, Hon Sunkanmi Babalola and members of the Oyo State House of Assembly.
Meanwhile, Governor Hyacinth Alia of Benue State described the budget as a practical roadmap to inclusive growth, stressing that economic progress must translate into better living conditions for ordinary households.
The sum of two hundred and eighty-one billion, eighty-six million, four hundred and thirty thousand, four hundred and eighty-five Naira, Five Kobo (₦281,086,430,485.05K) only is expected to fund total recurrent expenditure, accounting for 46.4% of the total budget size of 2026. This amount according to him, represents a 21.69% increment over the total recurrent cost of the revised 2025 budget, adding that “these votes will account for the sustenance of the payment of minimum wage and other incidental costs associated with our overheads”.
three hundred and forty-two billion, four hundred and twenty million, three hundred and thirty-three thousand, five hundred and eighty-one Naira, ten Kobo (₦342,420,333,581.10K) only, is for capital expenditure.
He emphasised that transforming the state requires targeted investments that unlock rural productivity and improve everyday living conditions.
“Transforming our rural economy is not an option, it is a necessity. This budget prioritises targeted investments in roads, infrastructure, and activities that will unlock rural productivity and improve quality of life.
“We will embark on a phased rehabilitation and construction of feeder roads linking farming communities to major markets, processing clusters to distribution hubs, and rural areas to health and educational facilities.
“This will reduce post-harvest losses, lower transport costs, and stimulate local commerce. We have allocated 30.23% of the capital budget to the development of rural roads, feeder roads, and bridges.
“Our goal is simple: connect farmers to markets, children to schools, and communities to essential services,” the governor explained.
The major key priority areas in the 2026 budget are the sustained growth agenda, covering Education and Health Sector investment, Infrastructure for Long-Term Competitiveness, as well as innovation and Digital Transformation, with an allocation of 55.66%.
This is followed by the Rural Development agenda which comprises of Rural Electrification, Water Supply, and Environmental Protection and Agriculture and Agro-Industrial Development with an allocation of 30.23% of the capital budget, while the Livelihood support with Social Protection Programs, MSME Growth and Cooperative Development is allocated 14.11% of the budget.
While reviewing the performance of the 2025 fiscal year, the governor acknowledged the economic pressures and security challenges, but highlighted major gains across critical sectors.
He disclosed that security coordination was strengthened through the deployment of 5,000 personnel of the Benue State Civil Protection Guards, working alongside federal agencies and community structures to restore relative peace in previously affected areas.
On infrastructure, Governor Alia reported near completion of two underpasses in Makurdi, and Gboko, completion of about 50 kilometres of roads in the state capital, and ongoing work on over 387 kilometres of roads across the state.
These efforts, he said, have placed Benue among the top five states nationally in capital expenditure per capita.
He also highlighted progress in workers’ welfare, revealing that salary arrears inherited by his administration had been reduced from ten months to three, while pension and gratuity backlogs were similarly reduced.
He said although the measures placed pressure on state finances, his administration chose to prioritise workers and retirees as a moral and economic necessity.
In agriculture, the governor outlined landmark interventions including the reactivation of the fertiliser blending plant, subsidised farm inputs, distribution of 150,000 oil palm seedlings under the Benue Alia Palm Project, and the test run of a fruit juice factory to curb post-harvest losses.
He added the near-completion of the Benue Beer project is expected to create over 1,000 direct jobs and deepen backward integration with local farmers.
Education, health, digital skills, and youth empowerment also featured prominently, with investments in school infrastructure, teacher recruitment, digital training for civil servants and youths, and the upgrade of the Benue State University Teaching Hospital.
The governor assured that his administration will continue to maintain strict fiscal discipline, block leakages, and expand internally generated revenue through automation, without imposing undue burdens on citizens.
He expressed confidence that with legislative support, the 2026 budget would deepen development, expand opportunities, and secure a more prosperous future for Benue State.
George Okoh
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