Improved Budget Performance Highlighted
Oyo State Governor, Seyi Makinde, has officially approved the ₦684 billion 2025 Appropriation Act, named the “Budget of Economic Stabilisation.” Speaking from the Executive Chamber in Agodi, Ibadan, on Monday, Makinde revealed that his administration has significantly enhanced budget performance, moving from a range of 30 to 35 percent to over 70 percent.
Ambitious Goals for 2025
Governor Makinde set an ambitious target for 2025, aiming for an 80 percent budget implementation rate. He emphasized that his government’s focus will be on implementing reforms, adopting people-centered policies, and ensuring economic stability for the betterment of the state’s residents.
Budget Preparation and Public Engagement
The governor highlighted the process behind the budget, which began with stakeholder meetings in all zones of Oyo State back in September 2024. “This isn’t just a routine; it’s a comprehensive engagement to ensure our budget reflects the needs of our people,” Makinde explained. He likened the budget to a sacred operational manual for governance, underscoring its importance in guiding administrative actions.
New Minimum Wage and Financial Commitments
Makinde assured that the 2025 budget includes provisions for the new minimum wage, with adjustments set to commence on January 1, 2025. He also thanked labor union leaders for their cooperation, announcing that all state workers and retirees would receive a 13th-month salary by December 31, 2024.
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He clarified the transition from the 2024 budget, which had already accommodated salary adjustments and awards, to the new fiscal year’s commitments, ensuring that these financial obligations would be met as scheduled.
A Vision for Economic Stability
By signing the 2025 Appropriation Bill into law, Governor Makinde expressed optimism about its role in stabilizing Oyo State’s economy, aiming for a more prosperous future for its citizens.
