Oyebanji Proposes N415.57bn Budget For 2026

Ekiti State governor, Biodun Oyebanji, has proposed a N415.57 billion budget estimate for the 2026 fiscal year.

Presenting the budget to the members of the State House of Assembly yesterday, he said the budget will focus on consolidating the various achievements recorded by his administration in the last three years.

Christened “Budget of Impactful Governance,” it is made up of a recurrent expenditure of N221.87 billion, representing 53 per cent of the total budget and a capital expenditure of N193.70 billion, which is 46 per cent of the budget.
The budget proposal 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.

Governor Oyebanji said the 2026 Budget is tailored towards the completion of all ongoing infrastructural development projects and focuses on investing in agriculture and related value chain as well as addressing wealth creation, welfare of the people in fulfillment of the Shared Prosperity Agenda of his administration.

He added that 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 products (GDP).

Governor 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.

He 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 organisations 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.

The governor 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.

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.