Ekiti State Governor, Mr. Biodun Oyebanji, on Wednesday presented a 2026 budget estimate of N415.57 billion to the State House of Assembly, promising to complete all ongoing capital projects and consolidate on the achievements of his administration.
Presenting the budget, christened *“Budget of Impactful Governance,”* at the Old Assembly Complex in Ado-Ekiti, Oyebanji said it was designed to sustain growth, strengthen infrastructure, and improve citizens’ welfare.
The proposed budget comprises N221.87 billion for recurrent expenditure, representing 53 per cent, and N193.70 billion for capital expenditure, amounting to 46 per cent of the total size. The figure represents an 11 per cent increase from the 2025 approved budget of N375.79 billion.
The governor said the budget was tailored to complete ongoing infrastructural projects, expand investments in agriculture and related value chains, create jobs, and boost food security in line with his administration’s Shared Prosperity Agenda.
He disclosed that the budget would be funded through federal allocations, Value Added Tax (VAT), internally generated revenue from MDAs and tertiary institutions, as well as contributions from international donor agencies and other income sources.
Oyebanji explained that the 2026 fiscal plan resulted from extensive consultations with stakeholders, including traditional rulers, community representatives, civil society groups, and residents across the three senatorial districts during town hall meetings.
He added that the budget was developed in line with the State Development Plan (2021–2050), Medium Term Expenditure Framework (2026–2028), and the National Chart of Accounts template adopted by the Nigerian Governors’ Forum.
Reaffirming his administration’s commitment to transparency and fiscal discipline, the governor said, “Our administration has demonstrated a high level of fiscal prudence in implementing developmental projects that will set our state on the path of realizing the Shared Prosperity vision. We will continue to uphold transparency, accountability, and responsible governance.”
Oyebanji also thanked President Bola Ahmed Tinubu for his support to Ekiti State, noting that several federal interventions have aided the state’s poverty reduction efforts and helped deliver key projects.
Reviewing the 2025 budget performance, Oyebanji expressed satisfaction with its implementation, listing ongoing projects such as road construction and rehabilitation, renovation of eight general hospitals, and other development initiatives.
In his response, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, assured that the lawmakers would give the budget due consideration with diligence and impartiality to ensure it reflects the aspirations of the people.
He urged his colleagues to approach the budget review process with integrity and dedication, adding that “every naira will be accounted for and directed toward priority sectors that yield maximum public benefit.”
