Governor Lucky Aiyedatiwa of Ondo State  on Monday in Akure, signed the 2026 budget of N524.4 billion into law.

The appropriation law is tagged “Budget of Economic Consolidation.”

The N524.4 billion budget comprises recurrent expenditure of N220. 8 billion representing 42.11 per cent, and capital expenditure of N303. 57 billion representing 57.89 per cent.

Assenting to the bill, Mr Aiyedatiwa noted that the capital expenditure showed his administration’s commitment to infrastructure and economic growth.

The governor said the budget was a strategic blueprint designed to respond effectively to prevailing national economic realities, while positioning the state on a path of self-reliance, resilience and enduring prosperity.

Mr Aiyedatiwa said that all sectors – agriculture, trade and industry, education, health amongst others were well taken care of in the budget.

He also affirmed the ongoing drive to expand internally generated revenue through technology-driven, transparent tax systems, expansion of the revenue base and blocking of revenue leakages.

The governor charged ministries, departments and agencies to align their programmes strictly with the budget provisions and ensure timely, prudent, and efficient execution of projects and services.

He added that economic transformation and infrastructure development, including completion and initiation of critical projects in roads, power, and water supply, will create an enabling environment for businesses.

Mr Aiyedatiwa thanked the members of the Ondo State House of Assembly for their expeditious, meticulous and patriotic consideration of the 2026 Appropriation Bill.

“Your work is a demonstration of shared vision and a strong partnership in the service of the people who entrusted us with leadership,” he told the assembly leadership.

Mr Aiyedatiwa reiterated that the budget represented a covenant between government and citizens, a promise of responsible governance and shared prosperity, urging them to take ownership and participate in project implementation.

He also commended the House Committee on Finance and Appropriation for the thoroughness and professionalism while scrutinising the budget.

The governor urged all stakeholders to join hands with his administration in ensuring the effective implementation of the budget, so that 2026 becomes a year of consolidation, growth and inclusive development for the state.

Presenting the budget to the governor, the Speaker of the State House of Assembly, Olamide Oladiji, commended Mr Aiyedatiwa for transforming the state and giving Akure a “capital-like appearance.”

In his address, the commissioner for budget and economic planning, Olaolu Akindolire, provided additional details of the budget, describing it as strategic, realistic and people-focused. 

(NAN)