Ekiti State Governor, Mr. Biodun Oyebanji, on Friday presented a budget estimate of N415.57 billion for the 2026 fiscal year to the Ekiti State House of Assembly. The budget, titled “Budget of Impactful Governance,” aims to consolidate the achievements of his administration over the last three years and advance key projects across the state.
The 2026 budget proposal comprises a Recurrent Expenditure of N221.87 billion, representing 53 percent of the total budget size, and a Capital Expenditure of N193.70 billion, which accounts for 46 percent. The proposed budget represents an increase of about 11 percent compared to the approved 2025 budget of N375.79 billion, which had a Recurrent Expenditure of N252.15 billion and a Capital Expenditure of N104.51 billion.
Presenting the budget during a plenary session at the Old Assembly Complex in Ado-Ekiti, Governor Oyebanji explained that the 2026 fiscal plan was designed to complete all ongoing infrastructural development projects. He said the new budget would also focus on agriculture, wealth creation, and improving the welfare of citizens, aligning with the Shared Prosperity agenda of his administration.
According to the Governor, the substantial investment in agriculture and the related value chain is targeted at generating employment, stabilizing food prices, ensuring food security, and boosting the sector’s contribution to the state’s Gross Domestic Product (GDP). He noted that the state’s revenue sources for funding the budget would include Federal Allocation, Value Added Tax (VAT), internally generated revenue from Ministries, Departments and Agencies (MDAs), tertiary institutions, international donor agencies, and other income sources.
Governor Oyebanji stated that the 2026 Budget was the result of extensive consultations across the three senatorial districts of the state. He explained that during the statewide town hall meetings, traditional rulers, community representatives, civil society organizations, and other stakeholders made significant inputs that shaped the proposal.
He emphasized that the new budget aligns with the State Development Plan (2021–2050), the Medium Term Expenditure Framework (MTEF) for 2026–2028, and the Six Pillars of his Administration. The budget was also prepared in accordance with the National Chart of Accounts (NCoA) Template, as agreed upon by the sub-nationals through the Nigerian Governors’ Forum (NGF).
Governor Oyebanji reaffirmed his administration’s commitment to fiscal discipline and transparency in implementing the proposed budget. 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.”
He added, “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.”
Oyebanji stressed that transparency and accountability remain central to governance in Ekiti State under his leadership. “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,” he said.
The Governor also appreciated President Bola Ahmed Tinubu for his continued support to the government and people of Ekiti State. He said the President’s interventions had been instrumental in alleviating poverty and supporting the delivery of campaign promises. “I express my profound gratitude to President Bola Ahmed Tinubu for his very strong support to the government and the good people of Ekiti State. This support has translated to several interventions and has been very helpful in the quest to alleviate poverty in the State,” he stated.
Reviewing the performance of the 2025 budget, Oyebanji expressed satisfaction with its implementation, noting that several projects were executed across the state. He said, “Our government has ensured good implementation of the 2025 Budget with several projects and programmes being executed, which include construction and rehabilitation of several roads, renovation of eight general hospitals, among others.”
Speaking on the floor of the Assembly, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, commended the Governor for presenting the 2026 Appropriation Bill and assured that lawmakers would handle it with diligence and fairness.
He said, “The lawmakers will 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 approach the budget review with integrity and shared purpose. “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 said. He also called on heads of MDAs to be ready to explain their budgetary provisions when invited.
Rt. Hon. Aribasoye reaffirmed the Assembly’s commitment to financial accountability. “Every naira will be accounted for and directed to priority sectors that yield maximum public benefit,” he assured.
The presentation of the budget was attended by top government officials, including 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 MDAs; tertiary institution leaders; traditional rulers; heads of security agencies; and political leaders.
