The Ondo State Commissioner for Economic Planning and Budget, Mr Olaolu Akindolire, has explained the highlights of the 2026 Appropriation Bill, describing it as strategic, realistic and people-focused.
Akindolire spoke during the signing of the budget at the Exco Chamber, Governor’s Office, Akure.
The commissioner said the 2026 budget was designed to consolidate on previous gains while responding to prevailing economic realities, adding that it was anchored on the Budget of Economic Consolidation framework.
He disclosed that the total size of the 2026 budget stands at about N524.41 billion, noting that it is structured to strengthen fiscal sustainability, reduce vulnerability and ensure long-term economic resilience.
According to him, the budget projects N238.53 billion from federal and non-federal assistance, N44.79 billion from Internally Generated Revenue (IGR) and N6.05 billion as grants and aid. He added that the state plans to borrow N72.92 billion from local and foreign sources, including loans from development partners, stressing that the borrowings would be strictly tied to intellectual capital development interventions.
Akindolire further said the recurrent expenditure expectation for the 2026 budget is N220.83 billion, representing 42.11 per cent of the total budget size, explaining that the allocation would cater for personnel costs and the provision of essential public services to ensure the smooth flow of governance.
On capital expenditure, he said government has earmarked N303.58 billion, representing 57.89 per cent of the total budget, underscoring a strong commitment to infrastructure and the long-term development of the state.
Giving a sectoral breakdown, the commissioner said the infrastructure sector received the highest allocation of N144.48 billion, representing 27.6 per cent of the total budget, largely targeted at road construction and other public infrastructure.
He said education was allocated N64.57 billion, representing 12.3 per cent, to drive human capital development, while the health sector received N59.54 billion, representing 11.4 per cent, to improve healthcare delivery and strengthen human assets in health services.
He added that the public finance sector was allocated N95.11 billion, representing 18.1 per cent of the budget size, to ensure fiscal coordination and meet debt obligations. Agriculture, he said, received N29.67 billion, representing 5.7 per cent, to boost food security, agro-research and rural value chains.
Akindolire also disclosed that human acquisition programmes were allocated N35.25 billion, representing 6.7 per cent of the budget. He said the administration of justice got N20.58 billion, representing 3.9 per cent, while community development received N16.37 billion, representing 3.1 per cent. Regional development, he added, was allocated N15.51 billion, representing 3.0 per cent, legislative administration N13.01 billion, representing 2.5 per cent, while Clean and Industrial Environment, Energy and Information received 5.7 per cent to support economic growth, sustainability and wellbeing.
Describing the budget as more than a fiscal document, Akindolire said it represents a social contract between the government and the people.
He called for collaboration among the executive and legislative arms, ministries, departments and agencies, the private sector, civil society organisations and development. partners to ensure effective implementation.
He reaffirmed the government’s commitment to value-for-money monitoring and expressed appreciation to all stakeholders for their support, expressing optimism that the budget would deliver tangible results for the people.
While signing the budget, the state governor, Dr Lucky Orimisan Aiyedatiwa, described the occasion as far more than a statutory requirement, calling it a “solemn reaffirmation of our collective commitment to the progress, stability and sustainable development of our beloved Sunshine State.”
Governor Aiyedatiwa said 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 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.
Governor Aiyedatiwa 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.
He also 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.
On his part, Speaker of the Ondo State House of Assembly, Rt. Hon. Olamide Oladiji, commended Governor Aiyedatiwa for transforming the state and giving Akure 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.
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