Saturday, October 11, 2025 - Ekiti State Governor, Mr 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 per cent 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,
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 related value chains and address wealth
creation as well as welfare of the people to further ensure the fulfillment of
the Shared Prosperity agenda of his administration.
He noted that the planned investment on agriculture and
wealth creation were 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.
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 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, 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.”
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