Ekiti State Governor, Biodun Oyebanji, on Thursday presented a proposed budget of N490.74bn for the 2027 fiscal year to the state House of Assembly. The budget, christened the “Budget of Sustained Progress and Prosperity,” aims to consolidate the achievements of his administration and lay a solid foundation for the state’s development over the next four years. Oyebanji presented the budget at the Assembly complex in Ado Ekiti in accordance with Section 124, Subsection 4 of the 1999 Constitution, as amended.
The proposed budget comprises N275.68bn for recurrent expenditure and N215.06bn for capital expenditure. According to Oyebanji, the budget will focus on six pillars of his administration: education and healthcare; good governance and transparency; arts, culture and tourism; youth and job creation; infrastructure and industrialisation; as well as agriculture and rural development. The budget is also aligned with the state’s 30-year development plan, covering the period from 2021 to 2051.
The Speaker of the Assembly, Adeoye Aribasoye, commended the governor for the proposed budget, saying it reflected the aspirations and needs of the people as expressed during town hall engagements across the state’s three senatorial districts. Aribasoye assured the governor that the Assembly would give the proposal thorough consideration, ensuring alignment with Section 121 of the Constitution, the Fiscal Responsibility Law, and extant financial regulations.
During the budget presentation, Aribasoye outlined the Assembly’s approach to reviewing the proposal, which includes verifying that expected revenue sources are achievable and grounded in economic reality. The Assembly will also ensure that the public hearing process captures input from constituents and civil society, and that there is equitable distribution of projects across the three senatorial districts, 16 local governments, and 22 Local Council Development Areas.
The budget presentation was attended by dignitaries, including the governor’s wife, Dr Olayemi Oyebanji; Deputy Governor, Chief Monisade Afuye; members of the State Executive Council; traditional rulers; government officials, and other stakeholders. Oyebanji stated that the proposal would further consolidate the gains recorded under his administration’s Shared Prosperity Agenda, while providing a framework for sustained development across the state.
The Ekiti State government has taken steps to ensure that the budget aligns with the needs of its citizens. The town hall engagements across the state’s three senatorial districts provided a platform for citizens to express their aspirations and needs. The budget’s focus on six key pillars is expected to drive development and progress in the state.
The Assembly’s review of the budget proposal is expected to be thorough and meticulous, with a focus on ensuring that the budget aligns with the Constitution and financial regulations. The governor’s administration has emphasized the importance of transparency and accountability in the budgeting process, and the Assembly’s approach is expected to reflect this.
Key points
- The proposed budget comprises N275.68bn for recurrent expenditure and N215.06bn for capital expenditure.
- The budget is aligned with the state’s 30-year development plan, covering the period from 2021 to 2051.
- The Assembly will ensure that the public hearing process captures input from constituents and civil society.
