The Oyo State House of Assembly has passed the 2026 Appropriation Bill into law, approving a total budget of ₦892,085,074,480.79.
The bill was passed following the presentation of the report of the House Committee on Finance, Appropriation and State Economic Planning.
Speaking shortly after the passage, Hon. Olasunkanmi Babalola, Member representing Egbeda State Constituency, Deputy Leader of the House, and Chairman of the Committee on Finance, Appropriation and State Economic Planning described the moment as “historic,” emphasizing the Assembly’s commitment to fiscal discipline, infrastructure development, and timely governance.
“It was a total exercise across all ministries, departments, and agencies. We identified areas where funds could be better utilized, leading to a strategic reallocation of ₦2 billion from overhead to capital expenditure.”
This adjustment, according to him reduced the overhead budget from ₦389 billion to ₦387 billion, while increasing capital expenditure to over ₦504 billion, signaling a deliberate shift toward developmental projects and long-term investments in the state’s infrastructure.
Hon. Babalola assured citizens that the 2026 budget reflects the priorities of the people of Oyo State and will continue to deliver the dividends of democracy.
“We are the representatives of our people, and we are committed to ensuring that this budget translates into real impact across all constituencies. Our various House committees will embark on comprehensive oversight functions across all MDAs to ensure transparency and accountability.”
The Deputy Leader noted that passing the budget before the end of the year has become a legislative culture in Oyo State, driven by the desire to ensure that the government hits the ground running from January 1.
“The national budget cycle runs from January to December. If we delay until February, we’re already behind. Our goal is a 24/7 budget that starts working from day one,” he explained.
In response to recent concerns raised by Governor Seyi Makinde regarding indiscriminate waste disposal, Hon. Babalola confirmed that the Ministry of Environment and Natural Resources is a key beneficiary of the 2026 budget.
“Through the Committee on Environment, we will ensure that waste management and environmental sustainability are addressed effectively in 2026. Our role is to ensure a transparent and accountable budget that meets the needs of our people.”
