Dare Babalola
Ekiti State Governor, Biodun Oyebanji, presented a N415.57 billion budget proposal for the 2026 fiscal year on Friday, aimed at building on the administration’s past achievements.
The 2026 Budget Estimate, dubbed the “Budget of Impactful Governance,” allocates N221.87 billion (53%) to recurrent expenditure and N193.70 billion (46%) to capital expenditure, totaling N415.57 billion.
The 2026 budget proposal marks a significant increase, approximately 11%, from the N375.79 billion approved for 2025, which comprised N252.15 billion for recurrent expenditure and N104.51 billion for capital expenditure, underscoring the state’s growing financial commitments.
During a plenary session at the Old Assembly Complex in Ado-Ekiti, Governor Biodun Oyebanji presented the 2026 budget proposal to the Ekiti State House of Assembly, highlighting its focus on completing all ongoing infrastructural development projects across the state.
According to Governor Oyebanji, the 2026 Budget will prioritize investments in agriculture and its value chain, with a focus on wealth creation and enhancing the welfare of the people, all aimed at advancing the Shared Prosperity agenda of his administration and improving the lives of Ekiti residents.
The planned substantial investment in agriculture and wealth creation is multifaceted, targeting key areas such as job creation, stabilizing food prices, ensuring food security, and ultimately boosting the sector’s contribution to the state’s Gross Domestic Product (GDP), thereby driving economic growth and development.
Governor Oyebanji revealed that the N415.57 billion budget will be funded through a combination of revenue sources, including Federal Allocation, Value Added Tax (VAT), internally generated revenue from Ministries, Departments, and Agencies (MDAs) as well as tertiary institutions, support from International Donor Agencies, and other miscellaneous income streams.
Governor Oyebanji noted that the 2026 Budget estimate was informed by extensive statewide consultations with diverse stakeholders, including community representatives, interest groups, traditional rulers, and Civil Society Organizations, through Town Hall Meetings held across the three senatorial districts, ensuring that the budget reflects the needs and priorities of the people.
The Governor explained that the 2026 Budget is anchored on key strategic documents, including the State Development Plan 2021-2050, the Medium Term Expenditure Framework (MTEF) 2026-2028, and the Six Pillars of his administration, and was prepared in line with the National Chart of Accounts (NCoA) template, as adopted by the Nigerian Governors’ Forum (NGF), ensuring a structured and coherent fiscal framework.
The Governor pledged the government’s commitment to fiscal responsibility in implementing the 2026 Budget, which embodies the administration’s policy thrust and direction for the coming year, emphasising that probity, transparency, and accountability would continue to guide governance in Ekiti State under his leadership, underscoring their importance in delivering good governance and improving the people’s standard of living.
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 utilization of our commonwealth to implement laudable developmental projects.
“These projects are not only impactful, they will set our State on the path of realizing 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 institutionalized several fiscal reforms at the State and the Local Government levels for quality service delivery. These reforms are already paying off.”
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 on 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 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.”
The event was attended by the Deputy Governor, Chief (Mrs) Monisade Afuye; Secretary to the State Government, Prof Habibat Adubiaro; the Head of Service, Dr Folakemi Olomojobi; Chief of Staff, Mr Oyeniyi Adebayo; members of the State Executive Council, heads of government agencies, tertiary institutions, traditional rulers, heads of security agencies, and political leaders.
