Oyo State Executive Council on Wednesday at its Council Chamber approved the realignment and supplementary budget of the year 2026 to the tune of over One Trillion Naira.
The Commissioner for Information and Orientation, Prince Dotun Oyelade said the motive to jack 2026 budget up becomes imperative in order to meet the aspirations of administration Governor Seyi Makinde and its determination to ensure that all on-going projects across the state are completed before May 29, 2027.
Prince Oyelade noted that some ministries, departments, and agencies have requested increments in their budgets.
“The Council therefore increased the 2026 budget from ₦892,085,074,480.79 (Eight Hundred and Ninety-Two Billion, Eighty-Five Million, Seventy-Four Thousand, Four Hundred and Eighty Naira, Seventy-Nine Kobo) to ₦1,102,085,074,480.79 (One Trillion, One Hundred and Two Billion, Eighty-Five Million, Seventy-Four Thousand, Four Hundred and Eighty Naira, Seventy-Nine Kobo).
According to the commissioner, the Council was also briefed on the need to approve the execution of the African Continental Free Trade Area (AfCFTA)-related implementation programmes being undertaken by the Office of the Secretary-General of the AfCFTA Secretariat in collaboration with the Oyo State AfCFTA Office.
He noted that the Secretary-General of AfCFTA commended Governor Seyi Makinde for the remarkable progress recorded in the implementation of the AfCFTA initiative within the state, which has exposed Oyo State to trade and investment opportunities in Africa, particularly in the areas of industrialization, agribusiness, and export-oriented enterprises.
The Council approved the payment of 250,000 dollars (Two Hundred and Fifty Thousand United States Dollars) to the African Continental Free Trade Area (AfCFTA) to provide Oyo State a good footing in attracting investment in Africa.
The Commissioner also said that after the successful implementation of Sustainable Action for Economic Recovery (SAfER) in Oyo State last year, Council approved the total sum of ₦5,909,734,750.00 (Five Billion, Nine Hundred and Nine Million, Seven Hundred and Thirty-Four Thousand, Seven Hundred and Fifty Naira) for the implementation of the 2026 work plan of the Health Insurance and Food Security components of SAfER.
The Commissioner recalled that SAfER was established by Governor Seyi Makinde in 2023 to cushion the economic impact of the removal of fuel subsidy by the Federal Government.
“As a result, transportation fares were reduced for workers, elderly people, and the vulnerable. Food was equally distributed, health insurance was established for pensioners, and the government also supported small-scale entrepreneurs.”
Oyelade said that Council was convinced that this assistance should continue because the hardship being experienced by citizens has not abated.
The Council congratulated Gov Seyi Makinde over the return of the Shooting Stars Football Club to the elite Continental competition after 27 years. The governor said government will ensure that the Lekan Salami stadium will be ready to host the competition.
