Oyo Governor Makinde Promises Relief Amid Economic Hardship at Stakeholders’ Meeting

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• Governor Makinde announced measures to alleviate economic hardships at the Stakeholders’ Consultative Meeting for the 2025 Budget, emphasising community engagement and input in budget planning.
• The governor reported a 53% implementation rate of the 2024 budget, aiming for 90% by year-end, and highlighted investments in infrastructure, including the upcoming Ibadan Circular Road project.
• Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde, praised the inclusive budgeting approach, which has led to improved budget performance, and stakeholders expressed confidence in the 2025 budget’s alignment with community needs.

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Oyo Governor Makinde Promises Relief Amid Economic Hardship at Stakeholders’ Meeting

Oyo State Governor Seyi Makinde has reassured residents that his administration is actively working to alleviate the economic burdens faced by citizens during these challenging times.

Speaking at the Stakeholders’ Consultative Meeting on the 2025 Budget and the unveiling of the Oyo State Agenda 2040, held at the International Conference Centre, University of Ibadan, Makinde emphasised the importance of community input in shaping state budgets.

He highlighted significant changes in the state’s economic landscape over the past five years, attributing improvements to stakeholder engagement in budget planning.

“Through these actions and engagements, the economic landscape has changed drastically,” he stated.

The Governor unveiled the Agenda 2040 and the Five-Year Medium-Term Development Plan for 2023-2027, which were developed in collaboration with partners including DFID/PERL, the DAWN Commission, UNICEF, and the University of Ibadan Ventures Limited. These initiatives aim to create a conducive environment for decent job creation and enhance value addition within the state.

Addressing the impacts of recent economic policies, including the removal of fuel subsidies and currency exchange rate adjustments, Makinde reiterated the government’s commitment to mitigating hardship.

He noted that the implementation rate of the 2024 budget had reached 53%, with expectations for it to rise to 90% by year-end.

“This consultative meeting is the first in a series leading up to the 2025 budget,” Makinde explained, highlighting the importance of community feedback.

“We must understand your pains and how best to use the budget to alleviate them. This is your government, and we will always act in your best interest.”

Makinde acknowledged the economic difficulties faced by residents, stating, “We are living in very tough economic times, and it’s a time that calls for strong leadership and tough decisions, but we must remain sympathetic to the plight of our people.”

The governor also announced significant infrastructure investments, including the Ibadan Circular Road named after former Governor Rashidi Ladoja.

He assured that the 32-kilometer East Wing Section of the project, spanning from the Lagos-Ibadan Motorway to Badeku Village, is expected to be completed by 2025, marking it as Nigeria’s first motorway.

Moreover, Makinde committed to collaborating with the private sector to enhance agribusiness programmes and youth training, as well as continuing support for smallholder farmers.

He mentioned that support for beneficiaries of the Youth Entrepreneurship in Agribusiness Project (YEAP) would soon be available.

Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde, praised the inclusive budgeting approach that has benefitted the state over the last five years, while Hon. Sunkanmi Babalola, Chairman of the House of Assembly Committee on Budget, assured residents of the assembly’s commitment to equitable budget implementation.

Stakeholders from various sectors expressed their support for the inclusive approach to budgeting, reflecting confidence that the 2025 budget will be people-orientated.