October 10: Oyebanji presents N415.57bn 2026 budget to Ekiti Assembly
Ekiti State Governor, Biodun Oyebanji, has presented N415.57 billion budgetary estimates for the 2026 fiscal year to the Ekiti State House of Assembly.
The 2026 Budget Estimate of Ekiti State, which was christened “Budget of Impactful Governance,” is made up of a Recurrent Expenditure of N221.87 billion, representing 53 percent of the total size of the budget, and a Capital Expenditure of N193.70 billion, which translates to 46 percent of the total size.
The Ekiti budget proposal for the 2026 fiscal year is about 11 percent higher than the approved 2025 budget, which stood at N375.79 billion and which had N252.15 billion as its Recurrent Expenditure and N104.51 billion as Capital Expenditure.
Presenting the budget proposal in Ado-Ekiti on Friday, Governor Oyebanji said that the 2026 Budget would be tailored towards the completion of all ongoing infrastructural development projects in the state.
The Budget, according to the governor, would also focus on investing massively in agriculture and the related value chain and address wealth creation as well as the welfare of the people to further ensure the fulfillment of the Shared Prosperity agenda of his administration.
He noted that the planned investment in agriculture and wealth creation was targeted at stabilizing the prices of food and generating employment, as well as enhancing food security and boosting the contribution of agriculture to the state’s Gross Domestic Product.
Governor Oyebanji explained that the revenue sources expected to fund the budget size of N415.57 billion include Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and Tertiary Institutions), International Donor Agencies, and other sundry income sources.
Oyebanji stated that the 2026 Budget estimate was a product of statewide consultations with the representatives of various towns and communities, various interest groups, revered traditional rulers, and Civil Society Organizations at Town Hall Meetings held across the three senatorial districts, which enabled the people to articulate the needs of their towns, communities, and groups for consideration in the budget.
He further explained that the 2026 Budget stemmed from the State Development Plan, 2021-2050, Medium Term Expenditure Framework (MTEF), 2026–2028, and the Six Pillars of his Administration, and was prepared in compliance with the National Chart of Accounts (NCoA) Template as unanimously agreed by the sub-nationals through the Nigerian Governors’ Forum (NGF).
He pledged the government’s commitment to ensure fiscal responsibility towards the implementation of the proposed 2026 Budget, which he described as an embodiment of the policy thrust of his administration and direction of the Ekiti State Government in the coming year.
The governor noted that probity, transparency, and accountability have been the hallmark of governance in Ekiti State under his watch, which he described as necessary in upholding good governance and improving the standard of living of the people.
Oyebanji also expressed his profound gratitude to President Bola Ahmed Tinubu “for his very strong support to the government and the good people of Ekiti State”, noting that this support has translated to several interventions and has been very helpful in the quest to alleviate poverty in the State and in the delivery of his campaign promises to Ekiti people.
Reviewing the performance of the 2025 budget, Governor Oyebanji, who expressed satisfaction with the improvement in the budget performance, said his government has ensured good implementation of the 2025 Budget with several projects and programmes being executed in 2025, which include the construction and rehabilitation of several roads, renovation of eight general hospitals, among others.
In his remarks, the Speaker of Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye assured that the lawmakers would deliberate on the budget with diligence, patriotism, and impartiality to ensure that the 2026 Appropriation Bill reflects the aspirations of the generality of Ekiti people.
The Speaker urged his colleagues to act as stewards and work on the budget proposal with integrity, discipline, and a shared sense of purpose, noting that “with united effort, we can sustain the momentum of reforms, catalyze inclusive growth, and build an Ekiti State where opportunity is within reach for all. He also urged heads of MDAs to be prepared to shed light on their respective aspects of the budget when invited.
The Speaker also reaffirmed the pledge of the State legislature “that every naira will be accounted for and directed to priority sectors that yield maximum public benefit.”
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