Oyo State Achieves 80% of 2025 Budget Revenue, Launches ₦5.4 Billion Economic Recovery Plan

The Oyo State Government has announced that it has achieved 80 percent of its 2025 budget revenue target, highlighting significant progress in its fiscal management and public finance reforms. The development was disclosed by the State Ministry of Budget and Economic Planning, with officials crediting the performance to enhanced revenue collection strategies and improved transparency in financial operations.

In a related move, the government has unveiled a ₦5.4 billion economic recovery initiative under the Sustainable Actions for Economic Recovery (SAfER) programme. The package is designed to support micro, small and medium-scale enterprises (MSMEs), artisans, and farmers, particularly those adversely affected by the economic downturn and inflationary pressures.

Speaking on the revenue progress, the Commissioner for Budget and Economic Planning, Professor Musibau Babatunde, stated that the state’s commitment to fiscal discipline and quarterly budget tracking has helped boost revenue performance, which reached 91 percent in 2024. He emphasized that the present achievement in 2025 reflects the continuity of these reforms.

“This performance is not accidental. It is a result of strong fiscal policies, transparent reporting, and a commitment to improving the quality of lives through prudent budget implementation,” he said.

While the government’s revenue achievements and the SAfER programme have been widely commended, some civil society groups and opposition voices have raised concerns about the state’s spending priorities. Reports from The Guardian noted that Oyo, along with several other states, had earmarked nearly ₦200 billion collectively for office and residence renovations, sparking criticism amid lingering gaps in funding for education and healthcare.

Despite this, the government maintains that its focus remains on inclusive development. The SAfER initiative, according to NewsCoven, will channel resources into local economies to sustain livelihoods, especially in rural and semi-urban communities.

Observers say Oyo State’s current fiscal trajectory positions it as one of Nigeria’s most transparent and performance-driven states, with the potential to surpass its annual targets before the end of the year.