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Makinde signs revised 2021 budget into law
Oyo state governor, Engr. Seyi Makinde signed the N268.8 Billion revised 2021 budget into law, just as he assured that it will consolidate his administration’s infrastructure initiatives.
Governor Makinde, who gave the assurance on Monday while signing the budget at the Executive Council Chamber of the Governor’s Office, said that real implementation of the budget would commence in earnest, as, according to him, the state is targeting at least 70 per cent implementation.
According to him, there is a lot to look forward to in terms of dividends of democracy by the people of the state in 2021.
He added that the state was poised to complete many of its infrastructure works in the new year.
The governor appreciated members of the Oyo State House of Assembly for approving the 2021 budget in a timely manner, adding that the synergy between all the arms of government in the state has made the governance process easier for everyone.
It will be recalled that Mega Icon Magazine had earlier reported that Governor Makinde withhold his signature from a N273.7billion increased budget recently sent to him by the Oyo State House of Assembly.
The report also revealed that the proposed budget for the 2021 fiscal year, tagged: “Budget of Continued Consolidation,” which was a total of N266.6billion when presented recently by Governor Makinde was increased to the tune of N273.7 Billion by the States’ lawmakers.
Continuing, the House of Assembly approved and passed the sum of N273.7billion, late night on Tuesday.
The Oyo State House of Assembly, however made a U-turn on Friday and passed the sum of N268.8 billion as the 2021 appropriation against N273.7 passed earlier in the week.
But the governor dispelled this describing it as insinuations that the House of Assembly padded the budget and that the Executive rejected it and forced a revision, adding that the rumour was simply untrue.
“It is certainly not Uhuru, but we will continue to do our best to make things work in our dear state. It is a budget of continued consolidation, so we continue to ask for your support as we undertake various projects this coming fiscal year,” the governor said.
He added: “Today, we are signing into law our Budget of Continued Consolidation. This completes the first phase of the process for the 2021 fiscal year budgeting. First, we got the good people of Oyo State involved in the budgeting process through the town hall meetings, then we prepared the budget and passed it on-to the state’s House of Assembly for approval.
“After this signing, the real work of implementation begins.”
Governor Makinde stated that the 2020 budget fell short of the 70 per cent target but recorded a performance that was a little above average at 50.32 per cent due to the impact of the COVID-19 pandemic and the economic meltdown occasioned by the fall in oil prices.
“We met a lot of our goals because we used the Alternative Project Funding Approach (APFA), and the Contractor’s Project Financing Scheme to finance many projects. We also made use of targeted loans for project financing. Of course, the reward for hard work is more work. So, for the 2021 fiscal year, we will continue to be innovative and creative in our approach to financing.”
He noted that the government will “work harder and smarter next year to ensure that we meet our performance target of at least 70 per cent.”
Governor Makinde promised to explore alternative finance models in 2021, stating that projects which the House of Assembly saw as imperative as well on-going ones would be implemented.
“As already mentioned, we have some alternative finance models which we will be exploring in 2021. So, these projects, which the House saw as imperative, will still be implemented. However, we will carry out those projects without incurring higher interest on loans or negatively impacting Oyo State’s economic policies and budget performance.
“Let me also quickly add that with Nigeria staring at a second wave of the COVID-19 pandemic, we just have to remain prepared for eventualities. Some countries are already thinking of a second lockdown. But if we play our part, by observing all the guidelines provided by the Oyo State COVID-19 Task Force, we might weather this second wave without considering a lockdown.
“Be that as it may, we continue to maintain a positive outlook for 2021. Many of the projects we started in 2020 have less than 18-month cycles. So, we will see a good number of projects initiated by our administration completed in 2021.
For example, the 65km Moniya-Ijaiye-Iseyin Road, 21km Airport Road- Ajia-New Ife Express Road with a spur to Amuloko, and perhaps even the Idi Ape-Basorun-Akobo-Odogbo Barracks road, should be completed in 2021.
“By God’s grace, we will watch our first match in the upgraded Lekan Salami Stadium at Adamasingba in 2021. We will even commission the bus terminals all around Oyo State. Those who lost their stores, this year, as a result of the inferno at Akesan Market, will be happy to move back to the rebuilt market with better facilities next year,” Governor Makinde added.
The lawmaker representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Engr. Aderemi Oseni, has mourned the death of a chieftain of the All Progressives Congress (APC) in Oyo State and former member of the Oyo State House of Assembly, Hon. Akeem Abimbola Oladipupo, popularly known as Able, describing his demise as a painful loss to the progressive family.
Oladipupo, who represented Ibadan North-West Constituency in the Oyo State House of Assembly, was widely regarded as a grassroots politician and committed party loyalist until his passing.
Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency and the APC candidate for Oyo South Senatorial District, said the late politician’s death had created a vacuum within the party and among those who benefitted from his unwavering commitment to public service.
In a condolence statement issued on Monday by his Media Aide, Idowu Ayodele, and made available to journalists in Ibadan, the Oyo State capital, the federal lawmaker described the late Oladipupo as a dependable progressive, humble political actor and loyal party stalwart whose impact would remain indelible.
He said the deceased dedicated his life to serving humanity, strengthening the progressive movement and supporting the aspirations of many at the grassroots.
Oseni said, “The death of Hon. Akeem Abimbola Oladipupo (Able) came to me as a rude shock. Oyo State and the progressive family have indeed lost a committed, loyal and selfless leader whose passion for service, humility and dedication to the people stood him out.
“He was not just a politician but a bridge-builder, a dependable ally and a grassroots mobiliser who believed strongly in the ideals of our great party. His contributions to the growth of the APC in Oyo State and his service to humanity will remain unforgettable.”
The APC senatorial candidate noted that the late former lawmaker remained steadfast in promoting peace, unity and political development, adding that his simplicity and accessibility endeared him to many across political divides.
According to Oseni, the late politician’s legacy of service and sacrifice would continue to inspire younger politicians and party faithful.
He, however, urged members of the APC, associates and family members of the deceased to take solace in the remarkable life he lived and the positive impact he made during his lifetime.
Oseni also prayed for the repose of the deceased’s soul and for God to grant his family the fortitude to bear the painful loss.
State governors have proposed a new national minimum wage of N100,000 for Nigerian workers as part of efforts to cushion them from the biting effects of inflation and the rising cost of living.
Governor AbdulRahman AbdulRazaq of Kwara State, who is also the Chairman of the Nigeria Governors’ Forum (NGF), disclosed the proposal on Saturday in a post by the state government’s official Facebook page. He said the move aims to improve workers’ welfare while ensuring that government finances remain sustainable.
“State governments recognise the urgent need to improve workers’ welfare in response to the current economic realities facing Nigerians,” AbdulRazaq said.
“We are actively engaging with the Federal Government and organised labour to arrive at a wage structure that is fair to workers and sustainable for government finances.”
The NGF chairman explained that ongoing discussions are focused on balancing the need to boost workers’ purchasing power with the capacity of governments to deliver essential public services and development projects.
“The goal is to improve the living conditions of workers while ensuring that states can continue to meet their obligations and sustain projects that directly impact citizens,” he added.
The proposed N100,000 minimum wage is expected to intensify national debates on salaries, inflation, and broader economic reforms as Nigerians continue to contend with rising food prices, transportation costs, and other living expenses.
Currently, Nigeria’s statutory minimum wage stands at N70,000 per month. Some states, including Lagos, Rivers, and Imo, are already paying above the national benchmark to support workers amid the country’s economic challenges.
Meanwhile, the Nigeria Labour Congress (NLC) has continued to call for a comprehensive review of salaries, insisting that workers deserve a living wage that reflects present-day economic realities rather than merely guaranteeing survival.
The average retail price paid by consumers for Premium Motor Spirit, popularly known as petrol, rose to N1,532.93 per litre in April 2026, representing a 23.69 per cent increase compared to the N1,239.33 recorded in the corresponding period of 2025, findings by the National Bureau of Statistics (NBS) have shown.
The sharp rise in petrol prices came amid mounting inflationary pressure and worsening living costs, with Nigerians grappling with soaring transportation and food expenses that have continued to shrink household purchasing power.
The NBS disclosed this in its Premium Motor Spirit (Petrol) Price Watch for April 2026, released on Friday.
The report further showed that on a month-on-month basis, petrol prices rose by 18.97 per cent from N1,288.54 recorded in March 2026, underscoring persistent volatility in the downstream petroleum market.
A breakdown of prices across states revealed that Yobe recorded the highest average retail price for petrol at N1,599.05 per litre during the review period.
Edo and Bauchi followed closely with average prices of N1,595.74 and N1,589.07, respectively.
However, Niger residents paid the least for petrol at an average of N1,403.89 per litre, while Sokoto and Katsina recorded N1,404.16 and N1,406.28 respectively.
At the zonal level, the South-South recorded the highest average retail price at N1,566.76 per litre, while the North-West posted the lowest at N1,508.81.
The latest petrol price increase comes as millions of Nigerians continue to battle the ripple effects of rising inflation, with higher energy costs worsening transportation fares and the prices of essential commodities.
Similarly, the NBS said the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas, rose by 13.73 per cent month-on-month to N8,706.93 in April 2026 from N7,655.73 recorded in March.
On a year-on-year basis, the price increased by 10.42 per cent from N7,885.60 recorded in April 2025.
Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa at N9,451.70 and Bayelsa at N9,422.74.
In contrast, Anambra recorded the lowest average price at N7,204.76, while Ondo and Ogun followed with N7,239.49 and N7,825.75, respectively.
At the regional level, the North-West recorded the highest average retail price for refilling a 5kg cylinder at N9,025.07, followed by the North-East at N8,847.16, while the South-East posted the lowest average price at N8,224.37.
Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 13.89 per cent month-on-month to N22,382.20 in April 2026 from N19,652.83 in March.
Compared to April 2025, the price rose by 10.43 per cent from N20,268.06.
According to the NBS LPG Price Watch for April, Katsina recorded the highest average retail price for refilling a 12.5kg cylinder at N25,596.71, followed by Kogi at N24,558.25 and Gombe at N24,438.97.
Ogun recorded the lowest average price at N19,564.36, while Bauchi and Anambra followed at N20,178.87 and N20,511.90 respectively.
The North-West recorded the highest zonal average retail price for refilling a 12.5kg cylinder at N23,276.95, followed by the North-Central at N22,865.29, while the South-East posted the lowest average at N21,060.92.
The latest figures signal growing pressure on household energy costs, raising concerns over the implications for inflation and the cost of living in the coming months.
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