..2026 spending rises to N1.102trn
By Adeola Badru
IBADAN — The Oyo State House of Assembly has approved a N210 billion supplementary appropriation for the 2026 fiscal year, raising the state’s total approved budgetary provision to N1.102 trillion.
The approval was given during plenary on Thursday following consideration and adoption of the report of the House Committee on Finance, Appropriation and State Economic Planning on the Oyo State Supplementary Finance Bill, 2026.
The supplementary provision 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.
Presenting the committee’s report, its Chairman, Sunkanmi Babalola, said the committee subjected the bill to detailed scrutiny and considered it clause by clause before recommending its passage.
According to him, the committee’s consideration was guided by submissions from the Ministry of Budget and Economic Planning and projections contained in the Oyo State Government’s Medium Term Expenditure Framework, MTEF, already adopted by the House.
Babalola said the committee was satisfied 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.
He said: “The committee considered the Bill clause by clause, taking into account the inputs received from the Ministry of Budget and Economic Planning and the projections contained in the Medium Term Expenditure Framework adopted by this Honourable House.”
Following the passage, the total amount provided under the 2026 Finance Law increased from N892,085,074,480.79 to N1,102,085,074,480.79.
The committee recommended that the additional N210 billion be sourced from the Consolidated Revenue Fund of Oyo State for the financial year ending December 31, 2026.
It further stated that the specific sources of the supplementary funds had been outlined in the schedule attached to the bill.
The House subsequently adopted the committee’s recommendations and passed the Oyo State Supplementary Finance Bill, 2026.
The approval takes Oyo State’s total approved financial provision for 2026 above the N1 trillion mark, giving the government additional fiscal space to implement its programmes and projects.
The supplementary budget 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.
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