Adebayo Adenrele
The Ekiti State Ministry of Budget and Economic Planning has held a public presentation of the 2026 Budget breakdown and highlights, sequel to the signing of the 2026 Appropriation Bill into law on December 23, 2025 by the State’s Governor, Biodun Oyebanji tagged: “Budget of Sustainable Governance” totally, four hundred and fifteen billion, five hundred and seventy two million, seventy thousand, one hundred and thirty-nine Naira, forty-four kobo (N415, 572,070,139.44).
Giving the breakdown at a public function in Ado-Ekiti, the State’s Commissioner for Budget and Economic Planning, Hon Olufemi Ajayi disclosed that federal projects, which are the State’s share of revenue from the federal account and grants, the financial support from Domestic and Foreign Development Partners, took the honey pot of the whole budget with 30% and 29% respectively.
He noted that federal allocation had N126,684,000,000.46 (30%), Grants with N119,755,000,000.45 (29%), VAT with N80,101,000,000.58 (19%), Independent Revenue with N45,455,000,000.66 (11%), Opening Balance with N33,574,000,000.29 (8%) and Loan Plan with N10,000,000,000 (2%).
The Commissioner explained that the focus of the 2026 Budget was to complete all on-going projects while attention will also be given to food security, wealth creation and infrastructural development.
Hon Ajayi explained further, saying the 2026 Budget targets the attainment of the Ekiti State 30-Year Development Plan, with the fiscal document prepared in consonance with sound budgeting principles of transparency, accountability and inclusivity.
He maintained that the document is a reflection of the prioritized socio-economic needs of Ekiti people while the fiscal document contains the blueprints to achieve the administration’s vision of shared prosperity agenda.
He added that the 2026 Budget is focused on improving the economy of Ekiti with an actual integrated GDP figure of 4.62 trillion as at 2023, having increased significantly by 48.6% against the 2022 GDP figure of 3.11 trillion.
The Commissioner also reiterated the commitment of Governor Oyebanji’s administration to fiscal accountability and transparency to achieve fiscal sustainability and macro-fiscal objectives of government.
He equally revealed that the State Government remains committed to engender sustainable growth and further improve the well-being of the people by providing safety nets to cushion the impact of any reform measures on the vulnerable segments of the population.
