Governor Lucky Aiyedatiwa of Ondo State has officially presented a substantial budget proposal of N492.795 billion for the 2026 fiscal year to the State House of Assembly. The presentation, which took place during a plenary session presided over by the Speaker, Olamide Oladiji, marks a critical step in the state's financial planning.
Budget Breakdown and Sectoral Allocations
Dubbed the 'Budget of Economic Consolidation', the proposal outlines clear spending priorities. Infrastructural development leads the allocations with a massive N131.991 billion, which accounts for 26.80 per cent of the total budget. This is followed by public finance, which receives N89.607 billion (18.20 per cent), the health sector allocated N69.641 billion (14.10 per cent), and education receiving N63.878 billion (13.00 per cent).
In terms of expenditure type, the budget demonstrates a strong focus on future growth. A sum of N281.991 billion, representing 57.22 per cent, is earmarked for capital expenditure. Conversely, recurrent expenditure is allocated N167.523 billion, which is 42.78 per cent of the total budget.
Review of the 2025 Budget and Economic Context
Governor Aiyedatiwa provided context by addressing the performance of the current 2025 budget, known as the 'Budget of Recovery'. He disclosed that the initial budget of N698.659 billion was revised downward to N489.998 billion. This adjustment was necessary due to gaps identified in the mid-year appraisal and third-quarter budget performance reports.
The governor emphasized that the revision was imperative to reduce unrealistic donor-funded projections and minimize reliance on identified inflows. He also pointed to the global economic slowdown as a significant risk to the state's revenue, highlighting Ondo's civil service-driven and agrarian economic structure.
A Vision for Long-Term Prosperity
Justifying the title of the 2026 proposal, Aiyedatiwa stated that it represents a deliberate shift from restoration to the sustained consolidation of economic gains. He expressed his vision to ensure that the progress made in 2025 matures into long-term prosperity, resilience, and inclusive development for the people of Ondo State.
The governor also highlighted the government's commitment to participatory budgeting, involving communities, civil society groups, the private sector, youth bodies, artisans, and farmers in the process. He gave assurances that no ongoing project in the state would be abandoned, as adequate funds have been allocated to complete them.
In his response, Speaker Olamide Oladiji commended the governor for his achievements and intervention in recent Assembly matters. He promised that the House would thoroughly scrutinize the budget to ensure it positively impacts every citizen and pledged robust monitoring after its passage.
