We Will Continue The Trend Of Ensuring That Our Capital Expenditure Is Higher Than The Recurrent Expenditure, Aiming For 55% CapEx At The End Of Our Tenure

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Promise Source: Oyo State Roadmap for Sustainable Development 2023-2027

Our Verdict

Governor Seyi Makinde promised to maintain capital expenditure (CapEx) higher than recurrent expenditure throughout his second term, targeting 55% CapEx allocation by May 2027. This would prioritize infrastructure, roads, schools, and hospitals over routine administration costs, accelerating development projects and creating lasting economic multipliers for residents.

Oyo State's 2026 budget (signed December 2025) allocates 60.4% to capital expenditure versus 39.6% recurrent, exceeding the 55% end-of-tenure target one year early while sustaining the CapEx > recurrent trend established in prior budgets

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Tracking History

Mar 03, 2026

Gov. Makinde signs N892 billion Oyo 2026 Budget into law

Oyo State Governor, ‘Seyi Makinde, on Monday signed the N892 billion 2026 Appropriation Bill into law, declaring that the spending plan prioritises production over consumption as a deliberate strategy to grow the state’s economy and reduce dependence on federal allocations.

Governor Seyi Makinde Holds Media Chat and More Updates | Oyo State Feedback Service

The governor noted that his administration has maintained a realistic budgeting process since 2019, resulting in improved budget performance over the past six years. Read more

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We Will Continue The Trend Of Ensuring That Our Capital Expenditure Is Higher Than The Recurrent Expenditure, Aiming For 55% CapEx At The End Of Our Tenure

Tracking History

Gov. Makinde signs N892 billion Oyo 2026 Budget into law

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