…commends President Tinubu’s economic reforms
…pledges completion of ongoing capital projects
By Precious Owolabi,
Ado-Ekiti
Ekiti State Governor, Mr. Biodun Oyebanji on Friday presented the 2026 Appropriation Bill totalling ₦415.57 billion before the State House of Assembly, with a commitment to consolidating the achievements of his administration over the past three years.
Tagged the “Budget of Impactful Governance,” the 2026 proposal comprises a Recurrent Expenditure of ₦221.87 billion, representing 53 per cent of the total budget size, and a Capital Expenditure of ₦193.70 billion, which accounts for 46 per cent.
The 2026 budget proposal represents an 11per cent increase over the 2025 approved budget of ₦375.79 billion, which had ₦252.15 billion for Recurrent Expenditure and ₦104.51 billion for Capital Expenditure.
Presenting the budget before lawmakers at a plenary held in the Old Assembly Complex, Ado-Ekiti, Governor Oyebanji stated that the new budget was designed to complete all ongoing infrastructural development projects across the state.
He added that it would also prioritise agriculture and its value chain, wealth creation, and welfare of the people, in alignment with the administration’s Shared Prosperity agenda.
The Governor said the proposed investments in agriculture are intended to generate employment, stabilise food prices, guarantee food security, and boost agriculture’s contributions to the state’s Gross Domestic Product (GDP).
According to Governor Oyebanji, revenue sources for the ₦415.57 billion proposal include federal allocations, Value Added Tax (VAT), independent revenues from Ministries, Departments and Agencies (MDAs), and tertiary institutions, as well as funds from international donor agencies and other income sources.
He explained that the budget was the outcome of statewide consultations with representatives of towns, communities, interest groups, traditional rulers and civil society organisations at town hall meetings held across the three senatorial districts.
Governor Oyebanji stated that the budget was derived from the Ekiti State Development Plan 2021–2050, the Medium-Term Expenditure Framework (2026–2028), and the Six Pillars of his administration.
He noted that the budget was also prepared in accordance with the National Chart of Accounts (NCoA), as adopted by sub-national governments through the Nigerian Governors’ Forum (NGF).
Reaffirming his administration’s commitment to fiscal responsibility, the Governor described the budget as “an embodiment of the policy thrust” and a clear direction for the state in the coming year.
He said, “Distinguished Honourable Members, without any fear of contradiction, I make bold to say that our administration has demonstrated a high level of fiscal discipline and prudence in the utilisation of our commonwealth to implement laudable developmental projects.
“These projects are not only impactful, they will set our state on the path of realising the Shared Prosperity vision. I, therefore, affirm my commitment to continued fiscal discipline, transparency and accountability.
“To further promote good governance, we have designed a framework for effective policy formulation and implementation that would further boost the economy of our dear state. We have also institutionalised several fiscal reforms at the state and local government levels for quality service delivery. These reforms are already paying off.”
The Governor also expressed his gratitude to President Bola Ahmed Tinubu for his support to the people and government of Ekiti State, noting that the interventions from the federal level have contributed significantly to poverty alleviation and in the fulfilment of his campaign promises.
Reviewing the performance of the 2025 budget, Governor Oyebanji said he was satisfied with the level of implementation, listing the construction and rehabilitation of roads, and the renovation of eight general hospitals among key projects executed during the year.
In his response, Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, assured that the lawmakers would scrutinise the 2026 budget proposal with diligence, patriotism, and fairness, to ensure it meets the expectations of the people.
He urged his colleagues to act with integrity and discipline, stating, “With united efforts, we can sustain the momentum of reforms, catalyse inclusive growth, and build an Ekiti State where opportunity is within reach for all.”
The Speaker further reminded heads of MDAs to be prepared to provide clarity on their budgetary allocations when called upon and reaffirmed the Assembly’s commitment that “every naira will be accounted for and directed to priority sectors that yield maximum public benefit.”
The budget presentation was witnessed by the Deputy Governor, Chief (Mrs.) Monisade Afuye; Secretary to the State Government, Prof Habibat Adubiaro; Head of Service, Dr. Folakemi Olomojobi; Chief of Staff, Mr. Oyeniyi Adebayo; Members of the State Executive Council, heads of government parastatals, traditional rulers, security chiefs, and political leaders.