The Oyo State House of Assembly has approved an additional N210 billion under the Oyo State Supplementary Finance Bill, 2026, to support the state’s supplementary budget for the 2026 fiscal year.
The approval followed the consideration and adoption of the report of the House Committee on Finance, Appropriation and State Economic Planning during Thursday’s plenary.
Presenting the report, the committee’s chairman, Sunkanmi Babalola, said the Bill was scrutinised clause by clause before being presented to the House for consideration.
He explained that the committee also considered submissions from the Ministry of Budget and Economic Planning, as well as financial projections contained in the Oyo State Government’s Medium Term Expenditure Framework, which had earlier been adopted by the Assembly.
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With the passage of the supplementary finance measure, the state’s total financial provision for 2026 has 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 added that the specific sources of the funds were outlined in the schedule attached to the Bill.
The approval effectively raises Oyo State’s total authorised financial provision for the 2026 fiscal year to more than N1.1 trillion.
