Oyebanji proposes N415.57bn fiscal estimates for Ekiti in 2026
…pledges not to abandon ongoing projects
Governor Biodun Oyebanji of Ekiti State, on Friday, presented an Appropriation Bill of N415.57 billion for the 2026 fiscal year, which is expected to focus on consolidating the various achievements recorded by his administration in the last three years.
The 2026 Budget of Ekiti State, christened “Budget of Impactful Governance”, is made up of a Recurrent Expenditure of N221.87 billion, representing 53% of the budget size and a Capital Expenditure of N193.70 billion, translating to 46%.
The Ekiti budget proposal for the 2026 fiscal year is about 11% 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.
Laying the budget proposal before members of 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.
The 2026 Budget, according to the Governor would also focus on investing in agriculture and related value chain and would address wealth creation as well as welfare of the people to further ensure the fulfillment of the Shared Prosperity agenda of his administration.
The planned substantial investment on agriculture and wealth creation were aimed at generating employment, stabilising food prices, assuring 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, including Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and Tertiary Institutions), International Donor Agencies and other sundry income sources.
Governor Oyebanji stated that the 2026 Budget estimate is 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.
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 utilisation of our commonwealth to implement laudable developmental projects.
“These projects are not only impactful, they will set our State on the path of realising 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 institutionalised several fiscal reforms at the State and Local Government levels for quality service delivery. These reforms are already paying off.”
He also expressed his profound gratitude to President Bola 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.
