The Oyo State House of Assembly, on Wednesday, received a request from Governor Seyi Makinde for approval of N330 billion budget realignment and supplementary appropriation.
The executive communication transmitted by Mr Makinde to the House was read during plenary by the Speaker, Adebo Ogundoyin.
The governor’s letter of request were accompanied by two bills- the Oyo State Supplementary and Realignment Appropriation Bill, 2026 and the Oyo State Supplementary Finance Bill, 2026 – for passage by the legislative.
Mr Makinde said that the request for passage of the bills was to pave way for accelerated execution of key infrastructure projects and other priority government programmes across the state.
He urged the lawmakers to expeditiously consider and approve the request, expressing confidence that the budget adjustments would guarantee uninterrupted execution of ongoing developmental projects.
Following the presentation of the bills, the legislators deliberated on them and they scaled first and second readings.
The bills were later referred to the House Committee on Finance, Appropriation and State Economic Planning for detailed legislative scrutiny.
In the executive letter, Mr Makinde explained that the request became necessary following submissions by several Ministries, Departments and Agencies (MDAs) seeking additional budgetary allocations to facilitate the timely implementation and completion of ongoing strategic projects across the state.
He said that the request was approved by the State Executive Council after it considered recommendations of the Ministry of Budget and Economic Planning, which reviewed the funding needs of the affected MDAs in line with the administration’s Roadmap for Sustainable Development (2023–2027).
Mr Makinde stated that the additional expenditure would principally fund the completion of major infrastructure projects, including the Circular Road, Ido-Eruwa Road, Airport-Ajia-New Ife Expressway, Saki-Igboho Road and the Apete-Awotan-Akufo Junction Road project, as well as the ongoing remodelling and upgrade of the Ladoke Akintola International Airport.
The proposal also provides funding for ongoing construction works at the Government House, Consolidated Revenue Fund Charges (CRFC), public debt servicing, loan repayments, gratuity payments and for the local government election to hold in the third quarter of 2026.
The governor in the letter disclosed that the requests for additional funding were received from the Ministry of Public Works and Transport, Oyo State Investment and Public-Private Partnership Agency (OYSIPPPA) and Ministry of Finance.
Other requests for additional funding came from the Office of the Executive Governor, Oyo State Independent Electoral Commission (OYSIEC), Ministry of Establishments and Training, Oyo State Road Maintenance Management Agency (OYSROMMA) and the Office of the Head of Service.
A breakdown of the proposal showed that the total additional expenditure totalled N330 billion, comprising N35.5 billion for recurrent expenditure, representing 10.76 per cent, and N294.5 billion for capital expenditure, representing 89.24 per cent.
The proposal further indicated that N120 billion would be sourced through the realignment of existing capital allocations from MDAs with unspent budget provisions.
The remaining N210 billion would constitute a supplementary budget to be added to the state’s 2026 Appropriation Law.
If the Assembly approves the request, the 2026 Oyo State budget will increased from N 892.09 billion to N1.102 trillion, representing an addition of N210 billion to the state’s fiscal framework for the year.
(NAN)
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