Building A Thriving Future: Governor Seyi Makinde’s Economic Renaissance
By Asiwaju Yso Oladunni, A Member of GSM Advocates
Governor Seyi Makinde of Oyo State has emerged as a beacon of transformation, leading the state to unprecedented economic growth and prosperity. Since taking office in 2019, and now re-elected for a second term in 2023, his administration’s remarkable achievements have set the pace for Oyo State’s sustainable development under the Omi-tuntun 2.0 mantra.
Governor Makinde’s unwavering commitment to improving the lives of Oyo State residents has seen his administration hit all developmental indices, establishing the state as a model for progressive governance. Under his visionary leadership, Oyo State has witnessed an economic renaissance that has not only revitalized the state but also set it on a trajectory for a brighter future.
One of the most striking achievements of Governor Makinde’s administration has been its commitment to the welfare of workers. While neighboring states grapple with salary arrears, Governor Makinde has made it a priority to ensure that workers receive their salaries promptly, without fail, on the 25th day of each month. The consistent payment of 13th-month salaries has further solidified his reputation as a worker-friendly governor.
In addition to this, Governor Makinde’s administration has undertaken the noble task of settling the gratuity owed to pensioners. Just recently, the state government announced the revival of the monthly payment of N206 million as gratuities to pensioners. This move places Oyo State second only to Lagos State in the regular payment of gratuities. Governor Makinde has shown commitment by releasing N10 billion to settle part of the pension arrears in compliance with a court directive.
The governor’s dedication is further evident in the payment of N3 billion in gratuities to retired primary school teachers and local government pensioners. This covers outstanding gratuities from 2008 to 2014, providing much-needed relief to these retirees.
The economic impact of Governor Makinde’s administration has been nothing short of remarkable. According to the 2023 Nigerian States report by Analysts Data Services and Resources, Oyo State ranks as the 3rd best-performing state in terms of economic output. The state’s internally generated revenue (IGR) has surged from N26.6 billion in 2019 to an impressive N62.2 billion in 2022.
Notably, Oyo State secured the 2nd spot in Nigeria with the highest IGR growth between 2019 and 2022, marking a staggering 134% increase. In the category of revenue generated from employees (PAYE), Oyo State clinched the 6th position, solidifying its position as one of the top 10 states with the highest revenue generated from economic activities.
Governor Seyi Makinde’s transformative governance has not only elevated Oyo State’s economic standing but has also set a standard for effective leadership and sustainable development. The future of Oyo State shines brighter as the state continues to thrive under his visionary leadership, making strides toward even greater prosperity and well-being for its residents.