Oyo assembly passes N210bn supplementary budget

On Thursday, the Oyo State House of Assembly endorsed the Supplementary Finance Bill, 2026, allocating an extra N210 billion to cover the state's supplementary appropriation for the 2026 fiscal year. This decision came after the presentation and endorsement of the report from the House Committee on Finance, Appropriation and State Economic Planning during a plenary session in Ibadan, the state capital.

Committee Chairman on Finance, Appropriation and State Economic Planning, Sunkanmi Babalola, meticulously reviewed the bill clause by clause, incorporating insights from the Ministry of Budget and Economic Planning and projections from the State Government Medium Term Expenditure Framework ratified by the House. Babalola announced, "With the approval of the supplementary finance, the total amount approved under the 2026 Finance Law has now increased from N892,085,074,480.79 to N1,102,085,074,480.79."

The newly granted N210 billion supplementary finance will be sourced from the Consolidated Revenue Fund of Oyo State, effective until December 31, 2026. This approval elevates the total sanctioned financial provision for the state in 2026 to more than N1.1 trillion.