Oyo Allocates ₦5.4 Billion for SAfER Phase II to Boost SMEs, Agriculture, and Healthcare Access
Oyo State allocates ₦5.4 billion for second phase of SAfER to support economic recovery.
Funds will boost SMEs, farming, health centers, and transport across urban and rural communities.
The Oyo State Government has committed ₦5.4 billion to the second phase of its Sustainable Actions for Economic Recovery (SAfER) initiative, aiming to strengthen local businesses, enhance food production, and improve infrastructure and healthcare services across the state.
Speaking at the presentation of the 2025 Mid-Term Revenue and Expenditure Performance Report in Ibadan on Wednesday, Commissioner for Budget and Economic Planning, Professor Musibau Babatunde, highlighted the key components of the initiative. According to him, the funding will support small and medium-sized enterprises (SMEs), expand agricultural activities, especially in livestock, poultry, fishery, and crop production, and upgrade healthcare and transportation systems.
SAfER was launched in 2023 as a response to the economic challenges posed by the removal of the fuel subsidy. Prof. Babatunde explained that this second phase is designed to build on the early successes by providing additional relief and development opportunities for residents.
“The ₦5.4 billion will be targeted at helping SMEs and farmers, as well as enhancing our health and transportation infrastructure,” he stated. He added that the program is structured to reduce the economic strain on citizens and stimulate sustainable development across sectors.
One of the major healthcare upgrades under the plan includes converting primary health centers into fully functional 24-hour medical facilities, aimed at improving access to care, especially in rural communities.
During the session, the commissioner also discussed the state’s budget performance for the first half of 2025. He revealed that Oyo had achieved about 80% of its revenue target, while expenditure performance stood at approximately 69%. He noted that some approvals by the governor have not yet been reflected in the report but will be included in the third-quarter review.
The commissioner emphasized the need for transparency in governance. In response to calls from civil society organizations for more frequent budget reviews, the state government has now instituted quarterly budget performance reports as part of its accountability measures.
Despite rising revenues, Babatunde acknowledged increased spending due to higher wage obligations, mass recruitment of public servants, and inflation. However, he reassured residents that the state’s financial outlook remains strong and focused on improving public welfare.
