State records 91.2% revenue target performance, spends ₦345.7bn as Makinde administration unveils plans to ease transportation costs.
Oyo State generated ₦406.9 billion in recurrent revenue in the first half of 2026, representing 91.2 per cent of its revenue target for the period, while spending ₦345.7 billion, equivalent to 77.5 per cent of its expenditure target.
The Secretary to the State Government, Prof. Musibau Babatunde, disclosed this in Ibadan during the presentation of the 2026 Half-Year Budget Implementation Report on Revenue and Expenditure to stakeholders.
He also announced that the state government will soon take delivery of 50 electric buses to improve public transportation and reduce commuting costs across the state.
Babatunde said the budget performance review assessed revenue generation, expenditure and the implementation of projects across Ministries, Departments and Agencies (MDAs), including projects nominated by residents during town hall meetings.
According to him, while some of the community-nominated projects have commenced, others will begin before the end of the year.
He explained that the review was designed to evaluate the state’s fiscal performance, identify areas requiring greater attention and strengthen financial sustainability.
“The review is to track the 2026 budget, measure achievements in revenue and expenditure, and explore ways of improving Oyo State’s fiscal sustainability. This will enable the government to channel more resources into sectors that need greater support,” he said.
On the planned electric buses, Babatunde said the initiative fulfils Governor Seyi Makinde’s promise during the state’s 50th anniversary celebration.
He explained that the buses would be deployed across local government areas, as well as inter-city and intra-city routes, to make transportation more affordable for residents.
Responding to questions on the higher allocation to infrastructure and education, he noted that projects in other sectors often overlap with the two priority areas, making the allocations necessary.
Earlier, the Commissioner for Budget and Economic Planning, Barr. Ayobami Ojo, attributed the strong budget performance to prudent financial management, improved revenue mobilisation and the dedication of public servants.
He added that the 2026 budget was prepared through a participatory process aligned with global best practices and reaffirmed the government’s commitment to transparency and accountability in the management of public finances.