By Rotimi Ojomoyela
Ado-Ekiti – Ekiti State Governor Biodun Oyebanji has unveiled a proposed budget of N415.57 billion for the 2026 fiscal year, designed to build upon the progress achieved by his administration over the last three years.
Dubbed the “Budget of Impactful Governance,” the 2026 financial plan allocates N221.87 billion (53%) to recurrent expenses and N193.70 billion (46%) to capital projects. This marks an 11% rise compared to the 2025 approved budget of N375.79 billion, which had N252.15 billion earmarked for recurrent costs and N104.51 billion for capital investments.
During the budget presentation at the Old Assembly Complex in Ado-Ekiti, Governor Oyebanji emphasized that the focus remains on finalizing ongoing infrastructure developments, enhancing agricultural productivity and value chains, fostering wealth creation, and elevating the welfare of Ekiti residents, all aligned with his administration’s Shared Prosperity Agenda.
He highlighted that strategic investments in agriculture are expected to create jobs, stabilize food prices, reinforce food security, and increase the sector’s contribution to the state’s economic output.
The governor outlined that funding for the 2026 budget will come from multiple sources, including federal allocations, Value Added Tax (VAT), internally generated revenue from government ministries and tertiary institutions, support from international donor agencies, and other miscellaneous income streams.
Governor Oyebanji revealed that the budget formulation involved comprehensive consultations with stakeholders such as community representatives, interest groups, traditional leaders, and civil society organizations through town hall meetings held across Ekiti’s three senatorial districts. These engagements ensured that citizens’ priorities were incorporated into the fiscal blueprint.
He further noted that the budget is consistent with the Ekiti State Development Plan (2021-2050), the Medium-Term Expenditure Framework (2026-2028), and the six foundational pillars of his administration. Additionally, it adheres to the National Chart of Accounts (NCoA) framework endorsed by the Nigerian Governors’ Forum (NGF).
Reiterating his administration’s dedication to sound financial management, Oyebanji stressed that transparency, accountability, and integrity remain the cornerstones of governance in Ekiti. He praised the successful execution of the 2025 budget, citing completed projects such as road networks, hospital upgrades, and other critical infrastructure.
“Our government has consistently demonstrated fiscal discipline and prudence in deploying public resources towards impactful development initiatives,” the governor asserted. “These efforts are steering Ekiti towards the realization of our Shared Prosperity vision.”
He also disclosed that fiscal reforms have been institutionalized at both state and local government levels to enhance service delivery and promote sustainable economic growth.
In response, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, praised the governor’s foresight and pledged that legislators would meticulously review the budget with dedication and patriotism to ensure it meets the needs of Ekiti’s populace.
Aribasoye encouraged his colleagues to maintain integrity and discipline throughout the budget deliberations, emphasizing that “through collective effort, we can sustain reform momentum, drive inclusive development, and create an Ekiti where opportunities are accessible to all.”
He reaffirmed the legislature’s resolve to guarantee that “every naira is judiciously spent on priority sectors that deliver the greatest public benefit.”
The budget presentation was attended by Deputy Governor Chief 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 agency heads; and political leaders.