Gov. Biodun Oyebanji of Ekiti, on Friday, presented a budget estimate of N415.57 billion for the 2026 fiscal year.

According to the governor, the budget is expected to focus on consolidating the various achievements recorded by his administration in the last three years.

Laying the budget proposal before members of the Ekiti State House of Assembly during a plenary held at the Old Assembly Complex, Ado-Ekiti, Mr Oyebanji said the 2026 budget was tailored towards the completion of all ongoing infrastructural development projects.

The 2026 budget estimate, christened “Budget of Impactful Governance”, is made up of a recurrent expenditure of N221.87 billion, representing 53 per cent, and a capital expenditure of N193.70 billion, which translates to 46 per cent.

The Ekiti budget proposal for the 2026 fiscal year is about 11 per cent higher than the approved 2025 budget, which stood at N375.79 billion, with N252.15 billion allocated to recurrent expenditure and N104.51 billion to capital expenditure.

According to the governor, the 2026 budget would also focus on investing in agriculture and the related value chain, addressing wealth creation, and enhancing the welfare of the people to further ensure the fulfilment of his administration’s shared prosperity agenda.

He said that the planned substantial investment in agriculture and wealth creation was also aimed at generating employment, stabilising food prices, assuring food security, and boosting the contribution of agriculture to the state’s Gross Domestic Product (GDP).

Mr 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.

According to him, the town hall meetings enabled the people to articulate the pressing 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).

Mr Oyebanji pledged the government’s commitment to ensure fiscal responsibility in the implementation of the proposed 2026 budget, which he described as an embodiment of the policy thrust of his administration and direction of the state government in the coming year.

The governor noted that probity, transparency and accountability had been the hallmark of governance in Ekiti, under his watch, which he described as necessary in upholding good governance and improving the standard of living of the people.

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 utilisation of our commonwealth to implement laudable developmental projects.

“These projects are not only impactful, they will set our State on the path of realising the Shared Prosperity vision. I, therefore, affirm my commitment to continued fiscal discipline, transparency and accountability.

“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 institutionalised several fiscal reforms at the state and local government levels for quality service delivery. These reforms are already paying off.”

Mr 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”, noting that this support had translated to several interventions, which had assisted in alleviating poverty in the state, and in the delivery of his campaign promises to Ekiti people.

Reviewing the performance of the 2025 budget, Mr Oyebanji expressed satisfaction with the improvement in the budget performance.

He said that his government had ensured good implementation of the 2025 budget with several projects and programmes being executed in 2025, which include the construction and rehabilitation of several roads, renovation of eight general hospitals, among others.

In his remarks, the Speaker of the State Assembly, 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.

 “With united effort, we can sustain the momentum of reforms, catalyse inclusive growth, and build an Ekiti State where opportunity is within reach for all”, he said.

He also urged heads of MDAs to be prepared to give a detailed explanation 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.”

The budget presentation was attended by the deputy governor, Monisade Afuye; secretary to the state government, Habibat Adubiaro and the head of service, Folakemi Olomojobi.

The list also includes: the chief of staff, Oyeniyi Adebayo; members of the state executive council, heads of government agencies, tertiary institutions, traditional rulers, heads of security agencies, and political leaders.

(NAN)