Oyebanji presents N415.57bn budget proposal for 2026 to Ekiti assembly
Ekiti State Governor, Mr Biodun Oyebanji, on Friday presented a budget estimate of N415.57 billion for the 2026 fiscal year, which is expected to focus on consolidating the various achievements recorded by his administration over the last three years.
The 2026 Budget Estimate of Ekiti State, christened the “Budget of Impactful Governance,” comprises a Recurrent Expenditure of N221.87 billion, representing 53 percent of the total budget size, and a Capital Expenditure of N193.70 billion, translating to 46 percent of the total.
The 2026 budget proposal is about 11 percent higher than the approved 2025 budget of N375.79 billion, which had N252.15 billion as Recurrent Expenditure and N104.51 billion as Capital Expenditure.
Laying the proposal before members of the Ekiti State House of Assembly during a plenary held at the Old Assembly Complex, Ado-Ekiti, Governor Oyebanji said the 2026 Budget was tailored towards the completion of all ongoing infrastructural development projects.
According to the Governor, the 2026 Budget will also focus on investing in agriculture and related value chains, addressing wealth creation and the welfare of the people to further ensure the fulfillment of his administration’s Shared Prosperity Agenda.
The planned substantial investment in agriculture and wealth creation is aimed at generating employment, stabilizing food prices, ensuring food security, and boosting the contribution of agriculture to the state’s Gross Domestic Product (GDP).
Governor Oyebanji explained that the revenue sources expected to fund the N415.57 billion budget include Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and tertiary institutions), international donor agencies, and other sundry income sources.
He stated that the 2026 Budget estimate was a product of statewide consultations with representatives of various towns and communities, interest groups, revered traditional rulers, and Civil Society Organizations at Town Hall Meetings held across the three senatorial districts. These engagements, he said, enabled the people to articulate the needs of their 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. It was also prepared in compliance with the National Chart of Accounts (NCoA) template as unanimously agreed by sub-nationals through the Nigerian Governors’ Forum (NGF).
Oyebanji pledged his government’s commitment to ensuring fiscal responsibility in implementing the proposed 2026 Budget, which he described as an embodiment of his administration’s policy thrust and direction for the coming year.
The Governor noted that probity, transparency, and accountability have been the hallmarks of governance in Ekiti State under his watch, describing them as essential for upholding 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 will further boost the economy of our dear state. We have also institutionalized several fiscal reforms at both the state and 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 the support has translated into several interventions that have been instrumental in poverty alleviation and in fulfilling his campaign promises to the people.
Reviewing the performance of the 2025 Budget, Governor Oyebanji expressed satisfaction with its improved implementation, noting that several projects and programmes were executed, including the construction and rehabilitation of roads and the renovation of eight general hospitals, among others.
In his remarks, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, assured that lawmakers would deliberate on the budget with diligence, patriotism, and impartiality to ensure that the 2026 Appropriation Bill reflects the aspirations of Ekiti people.
The Speaker urged his colleagues to act as stewards and work on the 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 and reaffirmed the legislature’s pledge 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; 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, security chiefs, and political leaders.