By Precious Oluwole
Governor of Ondo State, Dr Lucky Orimisan Aiyedatiwa, on Monday signed the ₦524.41 billion 2026 Appropriation Bill into law, describing it as a strategic instrument to consolidate economic gains, strengthen key sectors and promote sustainable development across the state.
The Governor, while officially signing the budget in Alagbaka, Akure, on Monday, noted that the signing of the budget went beyond a constitutional exercise, noting that it represented a renewed commitment by his administration to stability, resilience and shared prosperity for the people of Ondo State.
He added that the 2026 Budget of Economic Consolidation is a strategic blueprint designed to respond effectively to prevailing national economic realities while positioning Ondo State on a path of self-reliance, resilience and enduring prosperity.
He recalled that on November 17, 2025, the proposed budget of N492,795,667,939 was presented to the House, which, in consultation with stakeholders, passed a final budget of N524,410,590,939, comprising recurrent expenditure of N220,830,941,200 (42.11%) and capital expenditure of N303,579,649,739 (57.89%), underscoring a strong commitment to infrastructure and economic growth.
The governor outlined the sectoral distribution, noting allocations to agricultural development, trade and industry, education, health, information, community development, infrastructural development, environment and sewage management, regional development, administration of justice, public finance, general
administration, legislative administration, and energy.
He highlighted the budget’s key pillars, emphasising agriculture and food security with targeted investments in modern farming, support for smallholder farmers, and improved access to credit. He stressed human capital development and skills enhancement through education, school renovations, teacher training, and digital skills development.
He added that economic transformation and infrastructure development, including completion and initiation of critical projects in roads, power, and water supply, will create an enabling environment for businesses.
Governor Aiyedatiwa affirmed the ongoing drive to expand internally generated revenue through technology-driven, transparent tax systems, expansion of the revenue base, and blocking of revenue leakages.
He charged all Ministries, Extra-Ministerial Departments and Agencies to align their programmes strictly with the budget provisions and ensure timely, prudent, and efficient execution of projects and services.
He addressed the people of Ondo State, saying the budget represents a covenant between government and citizens, a promise of responsible governance and shared prosperity and urged them to take ownership and participate in project implementation.
The Governor appreciated the members of the Ondo State House of Assembly, under the distinguished leadership of Rt. Hon. Speaker Chief Olamide Adesanmi Oladiji, for their expeditious, meticulous and patriotic consideration of the 2026 Appropriation Bill, describing their work as a demonstration of “shared vision and a strong partnership in the service of the people who entrusted us with leadership.”
He particularly commended the Chairman and members of the House Committee on Finance and Appropriation for the thoroughness and professionalism with which they scrutinised the budget proposal, as well as the management and staff of the Ministry of Economic Planning and Budget for their technical expertise and tireless efforts in preparing the comprehensive document.
He expressed gratitude to members of the Executive Council, political appointees, the Legislature, the Judiciary, traditional rulers, religious leaders, and political stakeholders for fostering peace and unity.
He specially commended security agencies for safeguarding lives and property, calling for sustained commitment to maintaining the state’s hard-earned peace as the Yuletide season is celebrated and the New Year begins.
The Governor urged all stakeholders to join hands with our administration in ensuring its effective implementation, so that 2026 becomes a year of consolidation, growth and inclusive development for Ondo State.
Presenting the budget to the governor, Speaker of the Ondo State House of Assembly, Rt. Hon. Olamide Oladiji, commended Governor Aiyedatiwa for transforming the state and giving the headquarters a capital-like appearance.
He also highlighted the House’s achievements in passing bills regulating community activities, prohibiting kidnapping, registering domestic staff, establishing the State Road Fund, and creating coastal and waterways management agencies. Oladiji acknowledged the Committee on International Cooperation, the Commissioner for Budget and Economic Planning, clerks, and all members of the House for their roles in initiating, formulating, defending, and passing the 2026 Appropriation Bill.
In his address, the Commissioner for Budget and Economic Planning, Olaolu Akindolire, provided additional details, stating that the total budget size for 2026 is N534 billion, describing it as strategic, realistic and people-focused.
He explained that the budget is projected to include N2.38 billion for federal and non-federal assistance, N7.9 billion for internally generated revenue, and N6.05 billion in grants and aid, while the government intends to borrow N72.92 billion from local and foreign sources, including development partner loans tied to intellectual capital development.
Akindolire outlined the budget’s capital and recurrent expenditures under his projections, highlighting sectoral allocations to infrastructure, education, health, public finance, agriculture, human capital, administration of justice, community development, regional development, legislative administration, energy, environment, and information, stressing that the budget is both a fiscal document and a social contract requiring collaboration among government, civil society, the private sector, and development partners.
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