Toba Owojaiye reporting
Ibadan, Oyo State
Governor Seyi Makinde of Oyo State has unveiled the Oyo Agenda 2040, which outlines long-term plans for the state’s development, including creating economic opportunities and improving living conditions for residents.
Truth Live News gathered that during a consultative meeting on the 2025 budget, he emphasized the impact of actions taken by his administration over the last five years, such as inclusive budgeting and infrastructure projects. One key project, the 32-kilometer East Wing section of the Ibadan Circular Road, is expected to be completed by 2025 and will be the first freeway in Nigeria.
Additionally, Makinde launched a Five-Year Medium Term Development Plan (2023-2027) in partnership with several organizations. The agenda focuses on creating jobs and adding value to the state’s economy. Makinde also shared his administration’s progress in achieving a 53% implementation rate of the 2024 budget, with hopes of reaching 90% by year’s end.
This is the first in the consultative and town hall meetings that will happen in preparation for the 2025 budget. This is the sixth series we have held since we assumed office in 2019.
“We are not just engaging and talking. When we came in, our budget performance used to be around 35 per cent.
“Because our stakeholders have taken ownership of this process, we take feedback from what you are telling us while you take ownership of this, and we monitor its implementation, we have raised that bar,” he said.
The governor added, “You would agree that the economic landscape has changed drastically in the last five years.
The consultative approach in preparing the budget has led to higher performance, and the governor reiterated his commitment to working with stakeholders and the private sector to drive inclusive agribusiness and youth empowerment initiatives. Development partners and stakeholders praised the inclusive budgeting process and expressed optimism about the state’s future plans.