Osogbo: Osun State Governor Ademola Adeleke has presented a ₦705 billion 2026 budget proposal to the State House of Assembly, describing it as a “Budget of Economic Transformation” aimed at accelerating infrastructure development, boosting education, and driving inclusive growth across the state.
Adeleke, while laying the appropriation bill before lawmakers in Osogbo, stated that the budget reflects his administration’s commitment to prudent resource management and strategic investments that will stimulate job creation and enhance the living standards of citizens.
The governor stated that the budget comprises Recurrent Expenditure of N317 billion, personnel costs of N135 billion and overhead costs of N182 billion, which represent 45 per cent of the total budget.
Adeleke also said that the Capital Expenditure amounts to ₦388 billion, which is 55 per cent of the total budget.
The governor stated that the projected revenue for 2026 is N22.7 billion from the government’s share of the Federation Account Allocation Committee (FAAC), N199.6 billion in independent revenue, and other receipts of N268 billion.
He stated that the 2026 budget proposal was prepared based on the projections of the 2026–2028 Medium Term Expenditure Framework (MTEF), as required by the State Fiscal Responsibility Law of 2012.
In his remarks, Mr Adewale Egbedun, Speaker of the Assembly, stated that the presentation of the budget was constitutionally permissible under Section 121(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).
Egbedun stated that the Assembly would provide legislative support to the executive and continue to promote equity, trust, justice, transparency, and prosperity in the state.
He said the Assembly would also demand thorough accountability from the heads of ministries, agencies, and departments of government for previous appropriations and expenditures during oversight functions.