By Rotimi Ojomoyela
Ado-Ekiti — Governor Biodun Oyebanji of Ekiti State has presented a budget estimate of N415.57 billion for the 2026 fiscal year, aimed at consolidating the gains recorded by his administration over the past three years.
The 2026 budget, tagged “Budget of Impactful Governance,” comprises N221.87 billion for recurrent expenditure (53%) and N193.70 billion for capital expenditure (46%). The new proposal represents an 11% increase over the 2025 approved budget of N375.79 billion, which had N252.15 billion for recurrent and N104.51 billion for capital expenditure.
Presenting the budget before members of the Ekiti State House of Assembly at the Old Assembly Complex, Ado-Ekiti, Governor Oyebanji said the proposal focuses on completing ongoing infrastructure projects, investing in agriculture and value chains, promoting wealth creation, and improving citizens’ welfare in line with his administration’s Shared Prosperity Agenda.
According to him, the government’s investment in agriculture will generate employment, stabilize food prices, strengthen food security, and boost the sector’s contribution to the state’s GDP.
Oyebanji stated that the proposed budget would be funded through federal allocations, Value Added Tax (VAT), internally generated revenue from ministries and tertiary institutions, international donor agencies, and other sundry income sources.
He explained that the 2026 budget was the outcome of extensive consultations with representatives of towns, communities, interest groups, traditional rulers, and civil society organizations during town hall meetings across the three senatorial districts. These engagements, he said, allowed citizens to contribute their priorities for inclusion in the fiscal plan.
The governor noted that the budget aligns with the Ekiti State Development Plan (2021–2050), the Medium-Term Expenditure Framework (2026–2028), and the Six Pillars of his Administration, and was prepared in compliance with the National Chart of Accounts (NCoA) template agreed upon by the Nigerian Governors’ Forum (NGF).
Reaffirming his administration’s commitment to fiscal responsibility, Oyebanji emphasized that probity, transparency, and accountability remain central to governance in Ekiti. He lauded the performance of the 2025 budget, citing the completion of several projects, including road construction, hospital renovations, and other infrastructural works.
“Without any fear of contradiction, our administration has demonstrated a high level of fiscal discipline and prudence in utilizing our commonwealth for developmental projects,” the governor said. “These projects are impactful and set our state on the path to realizing the Shared Prosperity vision.”
He further disclosed that the government has institutionalized fiscal reforms at both state and local government levels to ensure efficient service delivery and sustainable economic growth.
In his remarks, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, commended the governor’s vision and assured that lawmakers would scrutinize the budget with diligence and patriotism to ensure it reflects the aspirations of Ekiti citizens.
Aribasoye urged his colleagues to uphold integrity and discipline during deliberations, 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 reaffirmed the legislature’s commitment to ensuring that “every naira will be accounted for and directed to priority sectors that yield maximum public benefit.”
The budget presentation was attended by the Deputy Governor, Chief 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, traditional rulers, heads of security agencies, and political leaders.
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