Ekiti State Budget 2026 Hits ₦415.57 Billion, Up 11% from 2025

Ekiti, Nigeria – November 11, 2025

The Ekiti State Governor, Biodun Oyebanji, has presented a proposed ₦415.57 billion budget for the 2026 fiscal year, reflecting an 11 percent increase from the 2025 appropriation. The move underscores the administration’s commitment to deepening developmental gains across the state.
According to details released on the Ekiti State Government’s official website, the 2026 budget comprises a Recurrent Expenditure of ₦221.87 billion, representing 53 percent of the total allocation, and a Capital Expenditure of ₦193.70 billion, accounting for 46 percent.
Speaking before the Ekiti State House of Assembly at the Old Assembly Complex, Ado-Ekiti, Governor Oyebanji explained that the budget is designed to complete ongoing infrastructure projects and stimulate key sectors that have the potential to create jobs and improve livelihoods.
The governor disclosed that the budget would be funded through a combination of Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and Tertiary Institutions), International Donor Agencies andOther sundry income sources
He further highlighted that the 2026 budget is the result of statewide consultations involving town and community representatives, interest groups, traditional rulers, and civil society organizations during Town Hall Meetings held across the three senatorial districts.
The proposal aligns with the Ekiti State Development Plan (2021–2050), the Medium-Term Expenditure Framework (2026–2028), and the government’s Six-Pillar Development Agenda, all prepared in accordance with the National Chart of Accounts (NCoA) as agreed by the Nigerian Governors’ Forum (NGF).
Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, reaffirmed the Assembly’s commitment to ensure accountability, stating that “every naira will be accounted for and directed to priority sectors that yield maximum public benefit.” He assured that lawmakers would deliberate on the budget to reflect the aspirations of the Ekiti people.
The 2026 Draft Estimates indicate that the government plans to diversify revenue sources and strengthen the Ekiti State Internal Revenue Service (EKIRS) to reduce dependence on federal allocations. Additionally, the newly enacted 2025 Tax Laws, which took effect on January 1, 2025, are expected to enhance internally generated revenue (IGR) across key sectors.
According to the latest data from the National Bureau of Statistics (NBS), Nigeria’s 36 states and the FCT generated a cumulative ₦3.63 trillion in IGR in 2024, bringing total revenue from 2021 to 2024 to ₦10.88 trillion.