Governor Biodun Oyebanji of Ekiti has presented a budget proposal amounting to N415.57 billion for the 2026 fiscal year.
The governor stated that the budget aims to consolidate the achievements of his administration over the past three years.
Presenting the budget proposal to members of the Ekiti State House of Assembly during a plenary session at the Old Assembly Complex in Ado-Ekiti, Mr Oyebanji indicated that the 2026 budget is designed to facilitate the completion of ongoing infrastructural development projects.
Titled the “Budget of Impactful Governance,” the 2026 budget comprises a recurrent expenditure of N221.87 billion, which accounts for 53 per cent, and a capital expenditure of N193.70 billion, representing 46 per cent.
This proposed budget is approximately 11 per cent higher than the approved 2025 budget, which totalled N375.79 billion, with N252.15 billion allocated for recurrent expenditure and N104.51 billion for capital expenditure.
According to the governor, the 2026 budget will also prioritise investments in agriculture and its associated value chain, focusing on wealth creation and enhancing the welfare of the populace to further realise his administration’s agenda for shared prosperity.
He explained that the planned significant investment in agriculture and wealth creation aims to generate employment, stabilise food prices, ensure food security, and increase agriculture’s contribution to the state’s Gross Domestic Product (GDP).
Mr Oyebanji outlined the anticipated revenue sources for funding the N415.57 billion budget, including Federal Allocation, Value Added Tax (VAT), Independent Revenue from Ministries, Departments and Agencies (MDAs) and Tertiary Institutions, international donor agencies, and other miscellaneous income sources.
He noted that the 2026 budget proposal was developed following extensive consultations with representatives from various towns and communities, interest groups, esteemed traditional rulers, and civil society organisations during town hall meetings held across the three senatorial districts.
These town hall meetings allowed citizens to articulate the pressing needs of their communities for consideration in the budget.
The governor further explained that the 2026 budget aligns with the State Development Plan for 2021-2050, the Medium Term Expenditure Framework (MTEF) for 2026–2028, and the six pillars of his administration, and was prepared in accordance with the National Chart of Accounts (NCoA) template, as unanimously agreed upon by sub-national governments through the Nigerian Governors’ Forum (NGF).
Mr Oyebanji reiterated the government’s commitment to fiscal responsibility in implementing the proposed 2026 budget, which he described as embodying the policy direction of his administration for the forthcoming year.
He highlighted that probity, transparency, and accountability have been the cornerstones of governance in Ekiti during his tenure, which he deemed essential for upholding good governance and enhancing the standard of living for the citizens.
He stated, “Distinguished honourable members, I confidently assert that our administration has demonstrated a high level of fiscal discipline and prudence in utilising our collective resources to implement commendable developmental projects.
“These projects are not only impactful but will also set our state on the path to achieving the Shared Prosperity vision. I affirm my commitment to maintaining fiscal discipline, transparency, and accountability.
“To further promote good governance, we have established a framework for effective policy formulation and implementation that will enhance the economy of our beloved state. We have also institutionalised several fiscal reforms at both the state and local government levels to ensure quality service delivery. These reforms are already yielding positive results.”
Mr Oyebanji also expressed his sincere gratitude to President Bola Ahmed Tinubu for his unwavering support for the government and the people of Ekiti, noting that this support has led to various interventions that have helped alleviate poverty in the state and fulfill his campaign promises to the people.
Reflecting on the performance of the 2025 budget, Mr Oyebanji expressed satisfaction with its execution.
He reported that his government had ensured the effective implementation of the 2025 budget, which included the construction and rehabilitation of several roads and the renovation of eight general hospitals, among other projects.
In his remarks, the Speaker of the State Assembly, Adeoye Aribasoye, assured that the lawmakers would deliberate on the budget with diligence, patriotism, and impartiality to ensure that the 2026 appropriation bill reflects the aspirations of the citizens of Ekiti.
The Speaker urged his colleagues to act as responsible stewards, working on the budget proposal with integrity, discipline, and a shared sense of purpose.
“With united effort, we can sustain the momentum of reforms, catalyse inclusive growth, and build an Ekiti State where opportunity is accessible to all,” he stated.
He also encouraged heads of MDAs to be prepared to provide detailed explanations regarding their respective components of the budget when called upon.
The Speaker reaffirmed the legislature’s commitment to ensuring that every naira is accounted for and directed towards priority sectors that yield maximum public benefit.
The budget presentation was attended by the Deputy Governor, Monisade Afuye; Secretary to the State Government, Habibat Adubiaro; and Head of Service, Folakemi Olomojobi, along with the Chief of Staff, Oyeniyi Adebayo; members of the State Executive Council; heads of government agencies; representatives from tertiary institutions; traditional rulers; heads of security agencies; and political leaders.
(NAN)