Governor Dapo Abiodun has presented the 2026 appropriation bill, totalling ₦1.668 trillion, to the state House of Assembly.
This proposal represents a 63% increase from the 2025 budget.
The budget, tagged the “Budget of Sustainable Legacy,” prioritises the completion of key projects under the administration’s ISEYA pillars and aims to drive long-term growth.
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The proposed budget allocates the majority of its funds to capital expenditure, with ₦1.044 trillion set aside for capital projects.
It also earmarks ₦624.76 billion for recurrent expenditure.
The administration projects that the budget will be funded through key revenue sources, including ₦554.81 billion from statutory federal allocations, ₦518.90 billion in capital receipts, and ₦509.88 billion from internally generated revenue (IGR).
Sectoral allocations place infrastructure at the forefront with a sum of ₦526.15 billion.
Other key areas directly impacted by the allocation include education, health, and housing.
The budget’s focus areas are jobs, revenue-generating initiatives, food security, industrial expansion, and improved service delivery.
The governor highlighted the state’s economic progress and the completion of key projects.
He noted that the state’s economy is now estimated at ₦17 trillion in GDP.
Internally Generated Revenue has also grown significantly, rising from ₦52 billion in 2020 to nearly ₦192 billion in 2024, with projections indicating it could reach ₦250 billion in 2025.
He added that his administration has continued to implement transformative projects.
These include the fully certified Gateway International Airport, ongoing construction of the Kajola and Ijebu-Ode Inland Dry Ports, and the construction or rehabilitation of more than 1,500km of roads across the state.
Reviewing the 2025 Budget of Hope and Prosperity, the governor stated that the state achieved 60% of its pro-rata expenditure target and 53% of its pro-rata revenue performance as of 30 September.
Abiodun thanked the Speaker and members of the House for their collaboration and diligent oversight functions.
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He urged the Assembly to give the budget accelerated consideration in anticipation of major events scheduled for 2026, including the Gateway Afrobeat Drum Festival and the 50th Anniversary celebration of the state.
The governor also expressed gratitude to all stakeholders, including traditional rulers, youth groups, labour unions, religious bodies, security agencies, and civil servants, for their continued support in sustaining peace and stability across the state.
