Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, on Friday presented a budget proposal of ₦415.57 billion for the 2026 fiscal year, emphasizing his administration’s determination to consolidate the gains recorded over the past three years.
Presenting the budget titled “Budget of Impactful Governance” before members of the Ekiti State House of Assembly during a plenary session at the Old Assembly Complex, Ado Ekiti, the Governor explained that the 2026 fiscal plan was designed to complete all ongoing infrastructural projects and deepen investments in key sectors of the economy.
According to the Governor, the budget comprises ₦221.87 billion for Recurrent Expenditure (representing 53% of the total estimate) and ₦193.70 billion for Capital Expenditure (representing 46%). The figure represents an 11% increase over the ₦375.79 billion approved for 2025.
Governor Oyebanji noted that the 2026 budget would prioritize agriculture, wealth creation, and human welfare, aligning with the Shared Prosperity Agenda of his administration. He said the renewed focus on agriculture and value-chain development aims to create jobs, stabilize food prices, enhance food security, and increase agriculture’s contribution to the state’s Gross Domestic Product (GDP).
He disclosed that the proposed budget would be funded through federal allocations, Value Added Tax (VAT), independent revenues from ministries, departments, and agencies (MDAs) and tertiary institutions, as well as contributions from international donor agencies and other income sources.
Oyebanji emphasized that the budget proposal was a product of extensive statewide consultations, including town hall meetings across the three senatorial districts where traditional rulers, community representatives, civil society organizations, and interest groups articulated their priorities for inclusion.
He explained that the document draws from the Ekiti State Development Plan (2021–2050), the 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) framework agreed upon by state governments under the Nigerian Governors’ Forum (NGF).
Reaffirming his commitment to fiscal responsibility, transparency, and accountability, Oyebanji said his administration had maintained high standards of prudence in managing state resources.
“Without any fear of contradiction, I make bold to say that our administration has demonstrated a high level of fiscal discipline and prudence in utilizing our commonwealth to implement laudable developmental projects. These projects are not only impactful but are setting our state on the path toward realizing the Shared Prosperity vision,” the Governor stated.
He added that several fiscal reforms had been institutionalized at both state and local government levels to ensure effective service delivery, noting that these reforms were already yielding tangible results.
Governor Oyebanji also expressed gratitude to President Bola Ahmed Tinubu for his “unwavering support” to Ekiti State, which he said had translated into meaningful interventions that enhanced poverty reduction and improved the implementation of state-wide development initiatives.
Reviewing the performance of the 2025 budget, the Governor expressed satisfaction with its implementation, citing ongoing projects such as the construction and rehabilitation of major roads and the renovation of eight general hospitals across the state.
In his remarks, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, commended the Governor for his commitment to sustainable development and assured that the legislature would give the budget proposal diligent and patriotic consideration.
He urged lawmakers to scrutinize the proposal with integrity and a shared sense of purpose to ensure that the final Appropriation Bill truly reflects the aspirations of the people of Ekiti State.
“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,” the Speaker said.
He also called on heads of MDAs to be prepared to defend their respective budget allocations when invited, reaffirming the Assembly’s commitment to ensure that “every naira is accounted for and directed towards sectors that yield maximum public benefit.”
The budget presentation 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 across the state.