Oyebanji proposes N415.57bn  budget of impactful governance for 2026

Ekiti State Governor, Mr. Biodun Oyebanji has presented a budget estimate of N415.57 billion for the 2026 fiscal year to the State House of Assembly on Friday.

Christened the Budget of Impactful Governance, the proposal is approximately 11% higher than the N375.79 billion budget approved for 2025 and is structured to consolidate the achievements of his administration over the last three years.

The 2026 estimate comprises N221.87 billion allocated for Recurrent Expenditure, which accounts for 53% of the total budget size and N193.70 billion designated for Capital Expenditure, translating to 46% of the total.

Addressing the members of the Ekiti State House of Assembly, Governor Oyebanji told members of the House that the 2026 Budget is specifically tailored towards the completion of all ongoing infrastructural development projects.

It will also heavily focus on investing in agriculture and related value chains, addressing wealth creation, and enhancing the welfare of the people to ensure the fulfillment of his administration's Shared Prosperity agenda.

The planned substantial investment in agriculture and wealth creation is designed to generate employment, stabilize food prices, assure food security, and boost the sector's contribution to the state's Gross Domestic Product.

Governor Oyebanji explained that the budget would be funded through revenue sources including Federal Allocation, Value Added Tax (VAT), Independent Revenue from MDAs and tertiary institutions, International Donor Agencies, and other sundry incomes.

He noted that the estimate was a product of extensive statewide consultations with community representatives, traditional rulers, and Civil Society Organizations across the three senatorial districts.

The Governor affirmed his commitment to continued fiscal discipline, transparency, and accountability in utilizing the state's commonwealth, noting that these principles have been the hallmark of governance under his watch.

He further expressed profound gratitude to President Bola Ahmed Tinubu for his strong support to Ekiti State, which has translated into various interventions helpful in alleviating poverty.

In response, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, assured the Governor that lawmakers would deliberate on the budget with diligence and patriotism to ensure the 2026 Appropriation Bill fully reflects the aspirations of the generality of Ekiti people.