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Oyo State governor, Seyi Makinde, on Monday, said his administration had been able to improve the performance of the state’s annual budgets from 30 to 35 per cent to over 70 per cent.
Makinde stated this when he assented to the N684 billion 2025 Appropriation Act tagged “Budget of Economic Stabilisation,” at a budget signing ceremony, held at the Executive Chamber of the Governor’s Office, Secretariat, Agodi, in Ibadan, the state capital.
He said the government would target 80 per cent budget implementation in 2025, adding that his administration would push for reforms, people-centred policies and economic stability and work for the well-being of residents of the state.
The governor noted that the 2025 budget would also play a key role in stabilising the economy of the state.
He explained that the 2025 Budget has provision for the new minimum wage, stating that the new wage and consequential adjustments will take effect from January 1, 2025.
The governor appreciated labour union leaders and the entire workforce in the state for their understanding and support regarding the implementation of the new minimum wage.
He also disclosed that the government would pay the 13th-month salary to all workers and retirees on the 31st of December, 2024.
“This journey began in September 2024 when we kicked off the budget stakeholders’ meeting in all zones. After meeting with our people and hearing from them, we prepared the budget and we also had Treasury Board meetings. It is not just like a yearly ritual.
“I will use this opportunity to thank everybody because we explained to them. Before we started this minimum wage discussion, we discussed. The budget is almost like the operational manual to run this administration; it is like our Bible or Quran that we put by the side. And whatever you put in there, that is what you will want to follow through.
“So, if we are saying from nowhere that we should start implementing the minimum wage and consequential adjustment in 2024, it is either we are not faithful to ourselves or we are not following our own laws.
“We will start the implementation on the first of January 2025. But the 2024 budget had the provision for the main salary, wage award and the 13th month and we have implemented them. The salary has been paid. We should be having the wage award this week. And, by the 31st of this month, the 13th-month salary would be paid. We have made provision for all of that.”
He added that the budget was presented to the House of Assembly in November, noting that the legislators spent six weeks to go through it.
“The Assembly made it a priority that this budget was approved in the shortest possible time and, today, we are ready to sign it off. The entire process is just about three months. So, this is a testament that things work better and smoother where there is collaboration.
“Since we assumed office in 2019, we have had continuous collaboration between the Executive and Legislature, which has become the envy of some. Where there is unity of purpose, things work harmoniously and that is the kind of relationship that exists among the three arms of government in the state. We didn’t have to coerce anybody. We carry ourselves along and arrive at the same destination.
“So, here in Oyo State, the Executive and Legislature are working harmoniously, because the leadership chose to put the people of the state first. If they are looking for the secret to our continuous collaboration, it is just that simple.
“That is why when people ask us how we have been able to go from about 30 to 35 per cent budget implementation by the previous administration to over 70 per cent, it is because we are talking across the entire spectrum of stakeholders.”
He added, “So, I am hoping that this year, we will move to 80 per cent implementation.
What this means is that once you have the road to your house in the budget, there is an 80 per cent chance that it will be implemented, and I think that is better than having 35 per cent.
“Let me also use this opportunity to reassure our people. 2024 has been a tough year for all of us, but we cannot give up. As long as we have life, we will continue to push for reforms, policies and economic stability. This budget will play a key role in making these possible and I will solicit once again for continued support for this administration.
“As a government, on our part, we will continue to be transparent and continue to emphasise that we can make mistakes, as we are not perfect. The issues people are not happy with, they should bring them to the table. Some people can be genuinely aggrieved but be bold enough to engage us.
“We have not victimised anybody; even people that were laid off, we brought them in after reviewing their cases and felt they were unjustly treated. That is what your government should do for you.”
Earlier, the Speaker of the state House of Assembly, Adebo Ogundoyin, said the upward review of the budget from N678 billion to N684 billion was a deliberate effort to accommodate emerging priorities and critical projects that will drive economic growth, improve infrastructure, and enhance the overall quality of life for the people of the state.
He added that the signing of the 2025 Budget “signifies a major leap forward, paving the way for unprecedented growth and development and a blueprint for transforming Oyo State with huge investments in education, infrastructure and implementation of the new minimum wage, which has a direct impact on the workers in the state.”
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