Category: Ministry of Budget and Economic Planning

Oyo Sensitizes Workers on 2022 Budget Implementation

The Oyo State Government has embarked on a Three-Day Workshop for Ministries, Department and Agencies, (M.D.As‘) on alignment of National Chart of Account (N.C.O.A), which encompasses budgetary and accounting processes, as the 2022 fiscal year approaches.

 The workshop, which commenced on Monday was organized by the Oyo State’s Ministry of Budget and Economic planning, came weeks after town-hall meetings were held in seven geo-political zones of the State, which recorded the attendance of critical stakeholders, for citizens’ engagement in public policies and Government’s activities.

 While declaring the training session open at the Ibadan Business School, the Secretary to the State Government, Olubanwo Adeosun, through the Special Assistant on Budget and Economic Planning to Governor Seyi Makinde, Mr. Babatunde Musbau, lauded the stakeholders engagement style in the implementation of projects in the State.

 Musbau described the N.C.O.A as a concrete platform for effective budget preparation as he claimed that the chart addresses budgeting, accounting and analysis of all Government transactions in the three tiers of Government, namely executive, legislative and the judiciary.

 He stated that the State administration has re-engineered the socio-economic infrastructure to boost economic viability through Internally Generated Revenue, which the State Government is determined to increase from its sectors.

 In his address to participants from Ministries, Department and Agencies during the Training-session, the Senior Special Assistant to the Governor on Economic Planning, Oluwaseyi Ogunsanya, asserted that the workshop was designed to equip the workforce  with adequate skills and knowledge for budget preparation.

 Ogunsanya added that the training was borne out of the need to prepare a budget in conformity with global best practices, for development of critical projects and infrastructures, to attain better improvement of standard of living. 

 While welcoming participants to the training session, the Permanent Secretary, Ministry of Budget and Economic planning, Mofoluke Adebiyi, described the training as an important activity towards reform that would occur in the public service soon. 

 Mofoluke Adebiyi also described the N.C.O.A as an intensive process for overall understanding of budget’s preparation, as she claimed that balancing is required in all accounting processes.

Facilitator of the sensitization programme, Ayuba Onifade, explained the features of the N.C.O.A to include, flexibility for easy generation of financial reports of the budget which refers to an estimate of income and expenditure for a particular period of time.



Dr. Bunmi Babalola,

Permanent Secretary,

Oyo State Ministry of Information, Culture and Tourism,


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Oyo To Construct 500,000 Litres Capacity Aviation Fuel Facility

The Governor of Oyo State, Engr. Seyi Makinde, has revealed plans to construct a 500,000 litres capacity aviation fuel facility at the Ibadan Airport.

The Governor disclosed this in his keynote address at the stakeholders town hall meeting on citizens engagement on the 2022 budget held at Ibarapa East Local Government Secretariat Hall, Eruwa on Thursday

The Governor, who was represented by the Speaker of Oyo State House of Assembly, Hon. Adebo Ogundoyin noted that the construction of the fuel facility is necessary to improve the standard of the airport.

He stated that the project would be one of the numerous projects just awarded and about to commence in the State, adding that some projects were already in the completion stage and will soon be commissioned.

“Other projects include: the installation of Mini-Grid Energy Projects in Ogbomosho south, Atiba, Ona-Ara and Iwajowa LGAs; construction of Isaba-Ogundoyin road Eruwa; construction and rehabilitation of Iseyin-Oyo road, construction of two-bay permanent fire stations at Atiba and Ibarapa LGAs, amongst others.

“The remodeling of Lekan Salami Stadium Adamasingba, reconstruction of Oyo township road, reconstruction of Saki-Ogbono-Igboho road, construction of pilot farm estates at Eruwa, Akufo and Fashola as well as the light up Oyo State Phase 2.”

He urged Oyo State citizens to be involved in the year 2022 budget planning, in order to record many achievements that will be beneficial to the people of Oyo State.

Also, the Speaker of the Oyo State House of Assembly, Hon. Adebo Ogundoyin on behalf of the Governor of Oyo State, appreciated those that attended the meeting and expressed their minds on what they wanted the Government to do for them, as he said this was essential in other to help the Government to know the right area to channel resources to have a better Oyo State and promised that the Government will fulfill all promises and request of the citizens.

Earlier in her welcome address, the Permanent Secretary, Ministry of Budget and Economic Planning, Mrs. Mofoluke Adebiyi said that the current administration’s open Government initiative is aimed at strengthening civic voices, demonstrating the responsiveness of Government system and promoting the interest of all citizens.

She declared that the last two years have witnessed a tremendous change in the inclusion and participation of citizens in governance through budget development and implementation.



Dr. Bunmi Babalola,

Permanent Secretary,

Oyo State Ministry of Information, Culture and Tourism,



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Oyo Boosts Portable Water Production with 1,194 Metric Tonnes of Aluminium Sulfate

The Oyo State Government has procured 1,194 metric tonnes of aluminium sulfate at the cost of #400million to boost production of portable water in the State.

This was disclosed by the State Governor at the second stakeholders engagement on the 2022 budget, organized by the Ministry of Budget and Economic Planning on Friday at Akinyele Local Government award hall in Ibadan.

Governor Abiodun Seyi Makinde who was represented by the Secretary to the State Government, Mrs Olubamiwo Adeosun in his keynote address, promised the people of the State that he would not renege on his promise to carry out the will of the people for a better society.

He highlighted some major projects that have been approved based on the will of the good people, ranging from construction of two-bay permanent fire stations at Atiba and Ibarapa Central Local Government areas, Oyo-Iseyin road reconstruction, the Light Up Oyo project amongst others, adding that N400 million was spent on the purchase of 1,194 metric tonnes of aluminium sulfate to boost the production of potable water in the State.

The Governor enjoined the people of the State to speak out their minds on what they want from the current administration, so as to include them in the 2022 budget, as the administration has this has become the policy guide of the Government.

“The stakeholder engagement is to gather the array of needs of the people and make them the programmes of Government, like we have always been saying, this is a people-centered administration that is focused on making policies, programmes and activities that are driven by the needs of the people.

“We are communicating directly with the people that put us in power to drive Governance and we must do it according to their wish and aspiration, the projects highlighted are in accordance with the demands made by the people and in relation to the available resources, we will continue to do this and we have seen that it is the best form of communicating with the people.”

In her welcome address, the Permanent Secretary, Ministry of Budget and Physical Planning, Mrs. Mofoluke Adebiyi made it known to the good people that the current administration open Government’s initiative was aimed at strengthening civic voices and demonstration of responsive Government system in order to promote the interest of all citizens, explaining further that the last two years witnessed a tremendous change in the inclusion and participation of citizens in budget development and implementation .

Meanwhile, representatives from different Local Government areas at the event appreciated what they called the good work of the current administration, while they expressed their demands, especially in the areas of road construction, rehabilitation of more moribund companies, improvement of health facilities, improvement of agricultural growth and rehabilitation of security posts.

Dignitaries at the meeting include market men and women, artizans, traditional rulers, youths representatives, non-governmental organizations, civil societies, among others.



Dr. Bunmi Babalola,

Permanent Secretary,

Oyo State Ministry of Information, Culture and Tourism,


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Oyo State To Begin Multi-Year Budgeting Process

Oyo State Government has hinted on its plans to commence a multi-year budgeting process by 2022.

The State’s Commissioner for Budget and Economic Planning, Barr Adeniyi Farinto disclosed this during a one-day capacity building on Budget, Monitoring and Evaluation which held in Ibadan on Tuesday.

The training which was for Budget officers of ministries, departments and agencies (MDAs) in the State, is to evaluate past budget (2020) and adequately plan towards the coming year’s budget.

The commissioner who was represented by the Permanent Secretary for Budget and Economic Planning, Mrs Mofoluke Adebiyi, noted that the budgeting process has taken a new dimension in Oyo State.

Farinto said the State is almost rounding up on the preparation of the medium term expenditure framework from which future annual budgets will be derived. This means that the introduction of  multi-year budget will cater for 3 years budget which will be reviewed from time to time.

He pointed out that “The budget must be realistic and attainable. Oyo State is the Pace Setters State and this is why all hands must be on deck for the State to catch up with other States ahead and overtake. We must restore the old glory of the State.”

Appreciating Governor Seyi Makinde for opening up the budgeting system and getting the citizens more involved in the budgeting system, the commissioner explained that the State’s projection is to achieve 75% of the budget.

Noting that no sector can perform without budget, he charged the delegates to work diligently to achieving the set target.

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Oyo Collaborates With UNICEF To Control Maternal, Infant Mortality

Oyo State Government in collaboration with United Nations Children’s fund (UNICEF) has began a second phase of the (more…)

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Budget Evaluation: Oyo Sets January to December Benchmark

Oyo State Government has disclosed it would henceforth set January to December cycle benchmark for budget planning and implementation in order to give enough room for easy evaluation by the Government and the people.

The Secretary to the State Government, Mrs Olubamiwo Adeosun made this assertion in her keynote address at a One-Day Sensitization Workshop on the year 2020 budget in Ibadan recently.

Adeosun, who emphasized the need to promote strategic planning with the budgeting system stated that the workshop was essential at the present time to educate and sensitize key officers in charge of the budget on the need to focus on transparency in the budget process which she said would ensure realization of the four pillar development agenda of the Seyi Makinde’s led administration.

Adeosun described the Government budget as the financial mirror of Government policies which derived from strategic planning, enunciated to achieve developmental goals for the citizenry, calling on the officers to see themselves as businessmen who should be all out to make profit on behalf of every citizen of the State.

“The budget is an economic and financial management instrument for allocating resources in order to achieve developmental objectives in an inclusive and sustainable manner and Government primarily exists to provide livelihood for the populace, Government is thus duty bound to provide quality services and public goods in the principle of equity and inclusiveness.

“To achieve this, there is a need to promote strategic planning and introduce best practice into our budgeting system and to make this happen, we have to set a benchmark for easier evaluation of the budget and January to December will be the target,” Adeosun stated.

Adeosun further noted that the Seyi Makinde’s led Government decision to create an independent ministry of budget and Economic planning was driven by the need to have a budgeting system that would be open and highly inclusive, an idea she claimed the previous administrations lacked.

“This administration is entrenching the principle of Budget Realism going forward in 2020. Our failure to perform well in budget execution has long been hinged on the weak link between policies, plans and budget. Hence the decision of this administration to create a Ministry of Budget and Economic Planning. “she said.

Also speaking at the event, the State’s Head of Service, Alhaja Ololade Agboola pointed out that the era of what she termed humongous and extravagant budget was over as the proposed 2020 budget would not only focus on the four cardinal principles and policies of the present administration which were education, health, security and economy but would also ensure its efficiency and effectiveness in other to deliver the dividends of democracy to the entire citizens of the State.

The Honorable Commissioner for Budget and Economic Planning, Barr. Adeniyi Farinto also reiterated at the workshop that the Government would begin January to December budget cycle, starting with the year 2020 budget.

He explained that this will ensure easier evaluation and monitoring of budget by the populace, noting that when a budget runs into the other year, it makes it very difficult to track, monitor and evaluate Government’s performance.

He therefore assured all that on the 31st day of December, 2019, the year 2020 budget would have been presented, screened and passed by the State House of Assembly and also assented to by the Governor.

The State House of Assembly had on Tuesday 3rd of September, reduced the 2019 budget of #282 billion passed into law by the immediate past administration to #182 billion as the incumbent administration described the earlier figure as unrealistic.



Hon. Wasiu Olatunbosun, PhD.,

Hon. Commissioner, 

Min. of Information, Culture & Tourism,

Oyo State Government.

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