Mohammed Shosanya
The governor of Oyo state, Seyi Makinde, has presented a total sum of ₦678.06 billion (N678, 068 767 332.18) to the Oyo state House of Assembly for legislative consideration and approval for 2025 budget.
While capital expenditure takes 51 percent of the total budget, recurrent expenditure stands at 49 percent.
The governor tagged the 2025 budget, “Budget of Economic Stabilization”.
According to the budget estimate, N343 billion was appropriated for capital expenditure, which represents 50.59 percent of the total budget,while N335 billion naira budgeted for recurrent expenditure represents 49.4 percent of the total budget.
In his presentation on Wednesday,Makinde said N152 billion has been appropriated for the infrastructural development of the state, which he noted took the largest percentage of the budget with 22.4 percent.
Besides,education received N145 billion, which represents 21 percent of the total budget. Health got N59 billion, which represents 9 percent while agriculture got N18 billion, representing 3 percent of the budget.
He added that the 2025 budget proposal represents a 35 percent increase compared to the 2024.
