KEY POINTS

• Oyo State’s monthly salary payments contribute to economic stability.
• The governor highlights the state’s growing private sector investment.
• Peace and unity among residents drive Oyo’s development.

Governor Seyi Makinde of Oyo State has credited the state’s economic stability to his administration’s monthly disbursement of N24 billion ($15.6 million) in salaries to workers at both the state and local government levels.

Speaking after the Eid-el-Fitri prayers on March 29, Makinde emphasized that the monthly wage bill of approximately N24 billion.

This includes N14 billion ($9.1 million) for state employees and N10 billion ($6.5 million) for local government workers, is a key driver of the state’s economic stability.

“The wage bill in the state now stands at N14 billion for the state and N10 billion for local government workers, meaning that every four weeks, N24 billion enters the state’s economy through workers’ salaries,” he said.

“This has been a major factor in keeping the state economically stable, and it’s something that we’re committed to maintaining.”

Private sector growth complements public sector investments

Makinde also pointed to the state’s growing appeal to private investors as another pillar of economic expansion.

According to Punch, he mentioned the Ijaiye Farm Settlement, which is expected to host the Farmers’ Wholesale Market and contribute to the state’s agricultural growth.

Makinde highlighted that 3,000 hectares out of the 27,000 hectares of land in the settlement will be used for the new project, which he hopes will bolster the state’s agricultural sector.

“Private sector investors are increasingly comfortable coming to Oyo State, and we’ve seen tremendous growth in this sector. I visited Ijaiye Farm Settlement and saw firsthand the potential for growth,” he said.

The governor’s remarks were made in the presence of a delegation that included key political figures such as Deputy Governor Bayo Lawal and Otun Olubadan of Ibadanland, Oba Rashidi Ladoja.

They were gathered to celebrate Eid at the Agodi Eid Ground.

Unity and peace key to Oyo’s ongoing development

Makinde took the opportunity to stress the importance of peace and unity within the state.

Reflecting on past political struggles, he pointed out that Oyo State has witnessed a shift from a time when divisions were deep, to a more cooperative atmosphere in which people of all political parties now come together in the name of development.

“Years ago, we saw divisions. Today, we are united, and that is what fosters development. When we live in peace, progress follows,” Makinde said, urging residents to continue supporting efforts to maintain unity for further development.

The governor also spoke about Oyo’s progress in key infrastructure and social programs, reiterating his commitment to continued economic growth and improving the livelihoods of residents.