- Prioritises infrastructure, capital projects
- Says 2025 budget reviewed downwards due to gaps
The governor of Ondo State, Lucky Aiyedatiwa, has presented a N492.795 billion budget proposal for the 2026 fiscal year to the State House of Assembly.
With the proposal tagged ‘Budget of Economic Consolidation’, Aiyedatiwa informed the Assembly that infrastructural development has the largest allocation with N131.991 billion, representing 26.80 per cent, followed by public finance with N89.607 billion (18.20 per cent), health with N69.641 billion (14.10 per cent), and education N63.878 billion (13.00 per cent).
While presenting the budget proposal at the hallowed chamber of the state legislature during plenary, presided over by the Speaker, Olamide Oladiji, the sum of N167.523 billion, representing 42.78 per cent of the total budget, is allocated for recurrent expenditure, while N281.991 billion, representing 57.22 per cent of the budget, is earmarked for capital expenditure.
According to the governor, the 2025 budget, which was christened the ‘Budget of Recovery’, began with a total sum of N698.659 billion but was revised downward to N489.998 billion due to the gaps noticed in the mid-year appraisal and third-quarter budget performance reports.
Aiyedatiwa emphasised that the 2025 budget review became imperative in order to reduce unrealistic donor-funded projections, minimise reliance on identified inflows, and reallocate available state resources more equitably.
During the presentation, the governor, who, however, outlined the successes recorded in the 2025 budget, disclosed that the global economic slowdown poses risks to the state’s revenue, given the state’s civil service-driven and agrarian structure.
“The title of the 2026 Budget of Economic Consolidation is aptly justified as the natural progression from previous years’ activities and, therefore, reflects a deliberate shift from mere restoration to sustained consolidation of economic gains, ensuring that the progress recorded in 2025 matures into long-term prosperity, resilience and inclusive development for the people of Ondo State.
“Mr Speaker, as we begin preparing the 2026 budget, we have continued our tradition of participatory budgeting. This approach has broadened the input of communities, civil society groups, the private sector, youth bodies, artisans, farmers and other key stakeholders in shaping the 2026 budget. The government’s policy thrusts and priorities for the 2026 fiscal year are designed to focus on deepening reforms and accelerating development.
“From the allocation above, Mr Speaker, our intention on infrastructure revolution is clear. We look forward to completing the plethora of ongoing projects across the state, as adequate funds have been allocated to them. Rest assured that no project in Ondo State will be left abandoned,” Aiyedatiwa stated.
On his part, the Speaker of the House of Assembly, Oladiji, commended the governor for the strides and achievements recorded, adding that the budget would be scrutinised thoroughly to ensure it positively impacts every citizen.
The Speaker, who also commended the governor for his intervention in the recent crisis that engulfed the Assembly, stated that the Assembly will ensure robust monitoring of the budget when passed.
