Oyo State Governor, Engineer Seyi Makinde, has signed the 2025 Appropriation Bill, valued at ₦684 billion, into law. The budget, titled “Budget of Economic Stabilization,” was enacted on Monday during a ceremony held at the Executive Chamber of the Governor’s Office.
The bill is designed to consolidate the state’s developmental milestones while addressing ongoing economic challenges. Governor Makinde emphasized that the budget reflects his administration’s commitment to sustaining economic stability and fostering inclusive growth across all sectors.
He highlighted that the budgeting process was transparent and inclusive, involving critical stakeholders and citizens at every stage. Notably, the new ₦80,000 minimum wage for workers has been incorporated into the budget, with implementation set to commence in January 2025.
Governor Makinde originally presented a proposal of ₦678 billion in November to the Oyo State House of Assembly, which later increased the figure to ₦684 billion to accommodate emerging priorities and critical projects.
Speaker of the Oyo State House of Assembly, Hon. Adebo Ogundoyin, described the budget as more than a financial document but a strategic plan for the state’s transformation.
“The 2025 Appropriation Bill is a deliberate effort to address critical needs, drive economic growth, and improve the quality of life for our citizens. Its focus on infrastructure and education underscores our commitment to empowering future generations and fostering innovation,” Ogundoyin said.
The Speaker also noted that the budget aligns with the state’s Medium-Term Expenditure Framework (MTEF) for 2025-2027. The framework will optimize revenue generation, ensure efficient expenditure, and support sustainable development.
With significant allocations to infrastructure and education, the 2025 budget aims to propel Oyo State into a new era of growth and prosperity.
