Oyebanji presents N415bn 2026 budget proposal to Ekiti lawmakers

Ekiti State Governor Biodun Oyebanji, on Friday, October 10, 2025, presented a budget estimate of N415.57 billion for the 2026 fiscal year.

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

The Ekiti budget proposal for the 2026 fiscal year is anout 11 per cent higher than the approved 2025 budget which stood at N375.79 billion.

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

The 2026 budget, according to the governor, would also focus on investing in agriculture and related value chain and will address wealth creation as well as welfare of the people to further ensure the fulfillment of the Shared Prosperity agenda of his administration.

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.

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Oyebanji stated that the 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 state.

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).

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.

Speaking, the Speaker of Ekiti State House of 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 the people of the state.

The Star