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🇳🇬 Nigeria /Economy & Trade

Oyo assembly passes N210bn supplementary budget

From The Punch · () English

Summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Approved/passed
  • Oyo State lawmakers approved an additional 210 billion naira in supplementary funding for the 2026 fiscal year.
  • The measure raises the state’s total approved 2026 financial provision from about 892.1 billion naira to more than 1.1 trillion naira.

Oyo State lawmakers have approved an additional 210 billion naira for the state’s 2026 budget, pushing total approved spending above 1.1 trillion naira.

The House of Assembly passed the Supplementary Finance Bill, 2026, after adopting a report from its Committee on Finance, Appropriation and State Economic Planning during plenary in Ibadan.

Committee chairman Sunkanmi Babalola said lawmakers considered the bill clause by clause, taking into account submissions from the Ministry of Budget and Economic Planning and projections in the state’s Medium Term Expenditure Framework.

The additional funding will come from the Consolidated Revenue Fund of Oyo State for the year ending Dec. 31, 2026. The approved amount under the state’s 2026 Finance Law rises from 892,085,074,480.79 naira to 1,102,085,074,480.79 naira.

With the approval of the supplementary finance, the total amount approved under the 2026 Finance Law now rose from N892,085,074,480.79 to N1,102,085,074,480.79 only.

· Sunkanmi BabalolaThe committee chairman stated the revised total approved provision for Oyo State.
About this summary

Originally published by The Punch. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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