Oyebanji Presents N415.57bn 2026 Budget, Pledges Completion of Ongoing Projects

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By Lukman Babatope

Ekiti State Governor, Biodun Abayomi Oyebanji, has presented a ₦415.57 billion budget proposal for the 2026 fiscal year, pledging to consolidate his administration’s achievements and sustain the state’s infrastructure and welfare reforms.

The proposal, tagged “Budget of Impactful Governance,” was laid before members of the Ekiti State House of Assembly during plenary at the Old Assembly Complex, Ado-Ekiti.

According to the governor, the 2026 spending plan reflects his administration’s determination to deepen inclusive growth, prioritize citizens’ welfare, and ensure that every ongoing project across the state is completed.

The total budget size of ₦415.57 billion comprises a Recurrent Expenditure of ₦221.87 billion (53 percent) and a Capital Expenditure of ₦193.70 billion (46 percent). The new estimate represents about 11 percent increase over the approved ₦375.79 billion 2025 budget.

Oyebanji told lawmakers that the 2026 fiscal plan would be driven by investment in agriculture, infrastructure, and wealth creation to strengthen the state’s Shared Prosperity Agenda.

“The 2026 Budget is tailored towards the completion of all ongoing infrastructural development projects, increased investment in agriculture and the value chain, as well as sustained welfare and wealth creation for our people,” the governor said.

He disclosed that the budget would be funded through federal allocation, Value Added Tax (VAT), internally generated revenue (IGR) from ministries and tertiary institutions, donor agencies, and other legitimate income sources.

Oyebanji explained that the document was a product of broad consultation across all senatorial districts, involving traditional rulers, civil society organisations, and community groups.

“This budget reflects the priorities of our people as expressed during the town hall meetings held across Ekiti,” he said. “It is also aligned with the State Development Plan (2021–2050), the Medium-Term Expenditure Framework (2026–2028), and our Six Pillars of Administration.”

He reiterated his administration’s commitment to fiscal discipline, accountability, and transparency in implementing the 2026 budget.

“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 utilization of our commonwealth to implement laudable developmental projects.

These projects are not only impactful, they will set our State on the path of realizing 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 institutionalized several fiscal reforms at the State and the Local Government levels for quality service delivery. These reforms are already paying off.”

The governor expressed appreciation to President Bola Ahmed Tinubu for his “very strong support” to the people and government of Ekiti State, saying federal assistance has helped reduce poverty and accelerate development.

“We are grateful to President Tinubu for his very strong support to the government and the good people of Ekiti State,” Oyebanji said. “This support has translated to several interventions and has been very helpful in the quest to alleviate poverty in the State and in the delivery of his campaign promises to Ekiti people.”

On the 2025 budget performance, Oyebanji expressed satisfaction with the state’s progress.

He said his administration ensured effective implementation of the 2025 budget through various projects, including the construction and rehabilitation of several roads and the renovation of eight general hospitals, among others.

In his remarks, Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, assured the governor that the legislature would consider the proposal with fairness and diligence.

“We will 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,” Aribasoye said.

“Every naira will be accounted for and directed to priority sectors that yield maximum public benefit.”

He also urged heads of ministries, departments, and agencies (MDAs) to be prepared to defend their allocations during the scrutiny process.

The event 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, traditional rulers, security chiefs, and political leaders.