Published by Osasere Edomwonyi Ikpoba
The Oyo State House of Assembly has passed the Supplementary Finance Bill, 2026, approving an additional N210 billion to finance the state’s supplementary appropriation for the 2026 fiscal year. The passage, which took place during plenary in Ibadan on Thursday, September 3, 2026, raises the state’s total approved budgetary provision from N892.085 billion to over N1.1 trillion, crossing the trillion-naira threshold for the first time in the state's fiscal history.
The approval followed the presentation and adoption of the report of the House Committee on Finance, Appropriation and State Economic Planning, chaired by Honourable Sunkanmi Babalola. The committee subjected the bill to detailed scrutiny, considering it clause by clause and taking into account inputs from the Ministry of Budget and Economic Planning, as well as projections contained in the Oyo State Government’s Medium Term Expenditure Framework (MTEF), which the House had already adopted.
Presenting the committee’s report, Babalola explained that the supplementary provision was consistent with the state’s fiscal planning framework and would provide the financial backing required for additional expenditure approved for the year. "With the approval of the supplementary finance, the total amount approved under the 2026 Finance Law now rose from N892,085,074,480.79 to N1,102,085,074,480.79," Babalola told the House. He further stated that the N210 billion supplementary finance would be granted from the Consolidated Revenue Fund of Oyo State for the year ending December 31, 2026, with the specific sources of the funds set out in the schedule to the Bill. The committee's recommendations were subsequently adopted, and the Supplementary Finance Bill was passed.
The supplementary budget is expected to provide additional funding for critical government programmes, particularly infrastructure and public works, while enabling the state to meet emerging financial obligations within the fiscal year. The approval takes Oyo State’s total approved financial provision for 2026 above the N1 trillion mark for the first time, giving the government additional fiscal space to implement its programmes and projects. According to the Vanguard report, the supplementary provision is expected to strengthen funding for infrastructure, public works, and other priority areas of the state’s development agenda, while enabling the government to respond to additional expenditure requirements before the end of the financial year.
The passage of the supplementary budget comes against the backdrop of the state’s ambitious 2026 budget, which was originally presented by Governor Seyi Makinde as the "Budget of Economic Expansion." The initial proposal, totalling N891.985 billion, allocated significant resources to infrastructure, education, healthcare, and economic empowerment. Infrastructure took the lead with N210.02 billion, representing 23.55 per cent of the total budget, while education received N155.21 billion and healthcare N70 billion. The supplementary approval effectively doubles the initial infrastructure allocation, signalling the government’s determination to accelerate the completion of ongoing projects and address critical infrastructure deficits across the state.
The decision to seek supplementary funding reflects the administration's commitment to fast-tracking development projects and responding to emerging priorities. Governor Makinde had previously indicated that the state would pursue additional funding to accelerate project delivery, particularly in the areas of road construction, healthcare facility upgrades, and educational infrastructure. The supplementary budget is expected to provide the fiscal backing needed to sustain momentum on these projects, many of which are at various stages of completion.
The passage of the N210 billion supplementary budget has been met with cautious optimism from stakeholders, who view it as a necessary step to address the state's infrastructure deficit. However, some observers have raised questions about the timing of the supplementary budget, coming just months after the original budget was passed. Critics have called for transparency in the utilisation of the additional funds, urging the government to ensure that the supplementary allocation is deployed efficiently and in line with the state’s development priorities. The government has responded by emphasising that the supplementary budget is part of a broader fiscal strategy to ensure that critical projects are completed on schedule and that the state remains on track to achieve its development objectives.
The supplementary budget approval also comes at a time when Oyo State is facing increasing pressure to deliver on its promises to residents. The state has been grappling with infrastructure challenges, including dilapidated roads, inadequate healthcare facilities, and overcrowded schools. The additional funding is expected to provide a much-needed boost to the state’s efforts to address these challenges, particularly in rural and underserved communities. The government has also indicated that the supplementary budget will support initiatives aimed at economic empowerment, job creation, and poverty reduction, aligning with the broader objectives of the "Budget of Economic Expansion."
The passage of the N210 billion supplementary budget marks a significant milestone for the Makinde administration, demonstrating its ability to mobilise resources and respond to emerging needs. It also reflects the state’s growing fiscal capacity, with the total budget now exceeding N1.1 trillion for the first time. However, the true test of the supplementary budget will lie in its implementation, with stakeholders watching closely to ensure that the additional funds are deployed effectively and transparently.
As Oyo State continues to pursue its development agenda, the supplementary budget provides the government with the fiscal flexibility needed to address pressing challenges and accelerate progress. For the residents of Oyo State, the approval of the N210 billion supplementary budget offers hope that the infrastructure and development projects that have long been promised will finally come to fruition. The coming months will reveal whether the government can translate this fiscal commitment into tangible improvements in the lives of the people.
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