Governor Biodun Oyebanji of Ekiti State has unveiled a proposed budget of N415.57 billion for the fiscal year 2026.
During his presentation to the State House of Assembly members yesterday, he emphasized that this budget aims to build upon the significant progress achieved by his administration over the past three years.
Termed the “Budget of Impactful Governance,” the proposal allocates N221.87 billion (53%) to recurrent expenditures and N193.70 billion (46%) to capital projects.
This represents an approximate 11% increase compared to the 2025 approved budget of N375.79 billion, which had recurrent spending of N252.15 billion and capital expenditure of N104.51 billion.
Governor Oyebanji highlighted that the 2026 budget prioritizes the completion of ongoing infrastructure initiatives, alongside strategic investments in agriculture and its value chains. The plan also focuses on wealth creation and enhancing citizens’ welfare, aligning with the administration’s Shared Prosperity Agenda.
He further explained that the increased funding for agriculture and economic empowerment is designed to create jobs, stabilize food prices, ensure food security, and elevate agriculture’s contribution to the state’s GDP.
The governor outlined that the budget’s financing will come from multiple revenue streams, including federal allocations, value-added tax (VAT), internally generated revenue from ministries, departments, agencies (MDAs) and tertiary institutions, support from international donors, and other miscellaneous income sources.
He noted that the budget formulation involved extensive consultations across the state, engaging representatives from various towns, interest groups, traditional rulers, and civil society organizations through town hall meetings held in all three senatorial districts. This inclusive approach allowed communities to voice their priorities for incorporation into the budget.
Governor Oyebanji also stated that the 2026 budget is anchored on the State Development Plan (2021-2050), the Medium Term Expenditure Framework (2026-2028), and the six pillars guiding his administration. It was developed in accordance with the National Chart of Accounts (NCoA) framework, as endorsed by the Nigerian Governors’ Forum (NGF).
He reaffirmed the government’s dedication to fiscal discipline in executing the 2026 budget, describing it as a clear reflection of his administration’s policy direction and the strategic vision for Ekiti State in the upcoming year.
The governor emphasized that integrity, transparency, and accountability have been central to governance under his leadership, principles he considers essential for promoting good governance and improving the quality of life for Ekiti residents.
In response, Rt. Hon. Adeoye Aribasoye, Speaker of the Ekiti State House of Assembly, pledged that lawmakers would review the budget with thoroughness, patriotism, and fairness to ensure the 2026 Appropriation Bill meets the expectations and needs of the people of Ekiti State.
