By Isaac Olufemi Ojo
IBADAN – The Oyo State House of Assembly has passed the Oyo State Supplementary Finance Bill, 2026, giving legislative backing to an additional N210 billion to shore up the state’s spending on infrastructure and public works for the current fiscal year.
The passage of the bill on Thursday followed the presentation and subsequent adoption of the report by the House Committee on Finance, Appropriation and State Economic Planning during plenary.
Presenting the report, the Chairman of the Committee, Hon. Sunkanmi Babalola, noted that the committee meticulously examined the bill clause by clause. He explained that the review incorporated strategic inputs from the Oyo State Ministry of Budget and Economic Planning, aligned with the projections enshrined in the State Government’s Medium Term Expenditure Framework previously adopted by the legislature.
With the green light given to the supplementary finance, the state’s total approved financial provision for the 2026 fiscal year has now scaled up from N892,085,074,480.79 to N1,102,085,074,480.79 (One Trillion, One Hundred and Two Billion, Eighty-Five Million, Seventy-Four Thousand, Four Hundred and Eighty Naira, Seventy-Nine Kobo).
The committee recommended that the N210 billion supplementary fund be drawn from the Consolidated Revenue Fund of Oyo State for the financial year ending December 31, 2026, with revenue sources clearly mapped out in the schedule attached to the legislation.
This legislative action brings the Oyo State government’s total operational budget for 2026 to the N1.1 trillion threshold, aimed at driving aggressive infrastructural development across the state.
