Governor Lucky Ayedatiwa of Ondo State presented the 2026 budget of N492 billion to the state House of Assembly on Monday.
Aiyedatiwa explained that the sum of N210 billion was for recurrent expenditure, while N281 billion was earmarked for capital expenditure.
The budget is christened “Budget of Economic Consolidation.”
The 2026 budget proposal exceeds the revised 2025 budget, which stands at over N489 billion.
The Leader of the House, Mr Olatunji Oshati, moved a motion for the governor to present the budget proposal, and Mr Olatunji Fabiyi, Odigbo 1-APC, seconded it.
Speaking further, the governor stated that the 2025 budget was revised to meet the needs of the citizens, as the initial budget had not met its targets due to the non-fulfilment of expected grants.
He said that the government, despite lean resources, has achieved remarkable progress in the last year in all sectors through prudent management.
The governor noted that infrastructural development has the highest percentage, at 26.80%, in the 2026 budget proposal, followed by public finance at 18.2%.
Aiyedatiwa added that trade and industry, information, environment, and sewage management have the lowest percentage of 100% in the proposal.
He noted that the proposal was justified as the natural progression from previous years’ activities and, therefore, would reflect a deliberate shift from mere restoration to sustained consolidation of economic gains.
The governor stated that the proposal would ensure the progress recorded in 2025 could mature into long-term prosperity, resilience, and inclusive development.
According to him, global economic slowdown poses risks to the state’s revenue, which relies heavily on Federation Account Allocations, Personal Income Tax, VAT and other shared revenues.
He added that the government’s policy thrusts and priorities for the 2026 fiscal year are designed to focus on deepening reforms and accelerating development.
Aiyedatiwa promised that the proposal would cater to sustained food security and agricultural transformation, along with human capital development and skills enhancement.
He added that the proposal would also focus on infrastructure expansion and modernisation, stating that it would drive internally generated revenue (IGR).
He asked members of the Assembly to give careful consideration to the proposal and be committed to its timely and effective implementation.
In his remarks, Chief Olamide Oladiji, the Speaker of the Assembly, appreciated the governor for the timely presentation of the proposal.
Oladiji said that the timeliness would help the lawmakers to give careful consideration to it.
He added that the governor has shown exemplary leadership in the state, commending him for reviewing the salaries of the legislative body’s workers.
According to him, the governor’s timely intervention to salvage the disagreement among the 26 lawmakers cannot be over emphasised.
The speaker promised that the budget proposal would be thoroughly reviewed to meet the needs of the state’s residents.
