Governor Biodun Oyebanji of Ekiti State on Friday presented a budget proposal of N415.57 billion for the 2026 fiscal year to the State House of Assembly, aiming to consolidate the achievements of his administration over the past three years.
Christened the “Budget of Impactful Governance,” the estimate is approximately 11% higher than the N375.79 billion approved budget for 2025.
The proposed budget allocates N221.87 billion, or 53 percent, to Recurrent Expenditure, and N193.70 billion, or 46 percent, to Capital Expenditure.
This marks a shift from the 2025 budget, which comprised N252.15 billion in Recurrent and N104.51 billion in Capital Expenditure.
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Laying the proposal before the lawmakers at the Old Assembly Complex in Ado-Ekiti, Oyebanji stated that the 2026 budget is primarily tailored toward the completion of all ongoing infrastructural development projects.
He highlighted that the plan will also focus on investing substantially in agriculture and its value chain to address wealth creation and the welfare of the people, thereby ensuring the fulfillment of his administration’s Shared Prosperity agenda.
This focus on agriculture is intended to generate employment, stabilize food prices, assure food security, and boost the sector’s contribution to the state’s Gross Domestic Product.
Funding for the N415.57 billion budget is expected to be sourced from Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and Tertiary Institutions), International Donor Agencies, and other sundry income sources.
Oyebanji explained that the budget estimate was a product of extensive statewide consultations, including Town Hall Meetings across the three senatorial districts with traditional rulers, Civil Society Organisations, and representatives of various towns and communities, ensuring the articulation of local needs.
The budget is also aligned with the State Development Plan (2021-2050), the Medium Term Expenditure Framework (2026–2028), and the administration’s Six Pillars, and complies with the National Chart of Accounts (NCoA) template agreed upon by sub-nationals.
Pledging his government’s commitment to fiscal responsibility, the governor affirmed that probity, transparency, and accountability have been the hallmarks of his governance, citing demonstrated fiscal discipline in implementing “laudable developmental projects.”
Oyebanji also used the occasion to commend President Bola Tinubu, expressing “profound gratitude for his very strong support to the government and the good people of the state,” which he noted has translated into several interventions helpful in alleviating poverty and delivering on campaign promises.
Reviewing the 2025 budget performance, the governor expressed satisfaction with the improvements and noted the execution of several projects, including the construction and rehabilitation of numerous roads and the renovation of eight general hospitals.
In response, the Speaker of the house, Adeoye Aribasoye, assured that the lawmakers would deliberate on the budget proposal with diligence, patriotism, and impartiality to ensure it reflects the aspirations of the citizens.
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He urged heads of government agencies to prepare to provide necessary clarifications on their respective aspects of the budget during deliberations, reaffirming the legislature’s pledge that “every naira will be accounted for and directed to priority sectors.”
The budget presentation was attended by top government functionaries, including the Deputy Governor, Monisade Afuye, traditional rulers, and heads of security agencies.
