Ekiti Governor, Biodun Oyebanji, has presented the sum of N415 billion as the 2026 appropriation bill to the State House of Assembly.
The governor, who presented the budget to the lawmakers on Friday as part of activities marking his third anniversary, explained that his administration would remain committed to implementing policies and projects aimed at positively impacting the people and the state’s economy.
Gov Oyebanji revealed that the 2026 appropriation tagged ‘Budget of Impactful Governance’ was designed to focus on consolidating the achievements of the administration in the last three years in the area of agriculture, infrastructural development, and other critical sectors of the economy.
Giving the breakdown of the proposed document, the governor said that the expenditure component is N221.87 billion, while the capital expenditure is N193.70 billion, leading to the recurrent/capital ratio at 53:47 percent.
On how the appropriation bill will be funded, the governor revealed that the federation allocation (N126,684 billion), VAT (N80,101 billion), Independent revenue (N45,455 billion), External grants(N119,755 billion), Loan plan(N10 billion), and opening balance of N33,574 billion have been projected as the revenue for 2026.
According to him, ‘ the proposed 2026 Budget has been carefully prepared to consolidate on our achievements in infrastructural transformation. We shall consolidate on our achievements in the agricultural sector by providing an enabling and conducive environment to investors in agri-business. We shall continue to provide incentives, seedlings, and farm implements to our local farmers.
‘ We shall sustain our tractorization scheme in 2026 to enhance food security in the State. As you are aware, the recent report rated Ekiti State as the State with the lowest price of food items in south-western Nigeria.
‘ As gratifying as this report is, we will not relent on our efforts to make life more meaningful and bearable to our people. We will collaborate with relevant stakeholders, including Federal Government Agencies and the Private Sector, to further stimulate the economy of the State.
‘ In 2026, the informal sector will be given pride of place. The need to provide an enabling environment for existing and emerging businesses cannot be overemphasized.
‘ Therefore, as a Government, we shall collaborate with relevant financial institutions to provide credit facilities to business owners at affordable interest rates. We will also embark on empowerment programmes for Micro, Small and Medium Scale Enterprises (MSMSEs) in the State. In addition, registered cooperatives in the State will be provided with the needed support to boost their businesses.’