Makinde: ₦24 Billion Salary Payout Stabilizes Oyo Economy

By Oluwadara Akingbohungbe 

Oyo State Governor Seyi Makinde has attributed the state’s economic stability to the monthly disbursement of approximately ₦24 billion in salaries to state and local government workers. He also highlighted the growing confidence of private sector investors in Oyo State, contributing to its economic expansion.

Makinde made these remarks during an Eid-el-Fitr visit to his Ibadan home by Muslim leaders, traditional rulers, and political figures, including Deputy Governor Abdulraheem Bayo Lawal and former Governor Rashidi Ladoja.

The governor congratulated the Muslim community on completing Ramadan and acknowledged their prayers and support for his administration. He emphasized that the peace and harmony within the state have fostered economic stability and development.

“We passed through those periods and we saw the result and effects and we can compare them with what obtains now. When we have an atmosphere of unity and live in peace with ourselves, there will be development and progress. That is what we are witnessing in Oyo State today,” Makinde stated.

He pointed to the ₦24 billion monthly injection into the state’s economy through salaries and the increasing private sector investments as indicators of progress. He also mentioned the Farmers’ Wholesale Market project at Ijaiye Farm Settlement as an example of new investment.

Makinde urged political leaders to strive for improvement, acknowledging the challenging times faced by citizens. He also said that the state wage bill is now around 14 billion, while the local government wage bill is around 10 billion.

Rashidi Ladoja, speaking on behalf of the Olubadan of Ibadanland, called for patience and resilience among Oyo State residents. Deputy Governor Lawal commended Makinde’s commitment to workers’ welfare and his governance based on truth and faith.

Professor K.K. Oloso offered prayers for Makinde and his administration, expressing gratitude for his support to the Muslim community. The delegation included other state officials and local government leaders.