The Oyo State House of Assembly passed the Supplementary Finance Bill, 2026, on Thursday. This bill approves an extra N210 billion to support the state’s supplementary budget for the 2026 fiscal year.
This decision came after the House Committee on Finance, Appropriation and State Economic Planning presented and adopted their report during a meeting in Ibadan, the state capital.
Sunkanmi Babalola, the Committee Chairman on Finance, explained the report. He went through the bill clause by clause. He also considered suggestions from the Ministry of Budget and Economic Planning along with projections in the State Government Medium Term Expenditure Framework that the House had accepted.
Babalola stated, “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.
He added, “The N210 billion supplementary finance be granted from the Consolidated Revenue Fund of Oyo State for the year ending December 31, 2026, with the sources of the funds set out in the schedule to the Bill.
With this approval, the total budget for 2026 now exceeds N1.1 trillion.
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