Aiyedatiwa signs 2026 appropriation bill into law
Ondo State Governor, Mr Lucky Aiyedatiwa, on Monday formally signed the 2026 Appropriation Bill into law.
The governor approved the budget, titled “Budget of Economic Consolidation,” shortly after it was passed by the Ondo State House of Assembly.
The 2026 budget stands at ₦524.41 billion, with ₦220.83 billion (42.11 per cent) earmarked for recurrent expenditure and ₦303.58 billion (57.89 per cent) allocated to capital projects.
Aiyedatiwa described the signing as more than a constitutional obligation, saying it symbolised a renewed commitment to the advancement, stability, and sustainable growth of Ondo State.
According to him, the Budget of Economic Consolidation serves as a comprehensive policy framework aimed at addressing current national economic challenges while steering the state toward self-sufficiency, resilience, and long-term prosperity.
He outlined that funds were distributed across key sectors including agriculture, trade and industry, education, healthcare, information, community and regional development, infrastructure, environmental and sewage management, justice administration, public finance, governance, legislative services, and energy.
The governor identified agriculture and food security as core priorities, noting planned investments in modern farming techniques, support for small-scale farmers, and expanded access to credit. He also stressed the importance of human capital development through education reforms, school rehabilitation, teacher capacity building, and digital skills acquisition.
Aiyedatiwa called on all stakeholders to support his administration in ensuring efficient execution of the budget, expressing optimism that 2026 would mark a period of consolidation, growth, and inclusive development for the state.
Earlier, the Speaker of the House of Assembly, Mr Olamide Oladiji, while presenting the approved budget, praised the governor for his developmental strides and for giving Akure the outlook of a modern capital city.
Similarly, the Commissioner for Budget and Economic Planning, Mr Olaolu Akindolire, described the budget as people-centred, practical, and strategically aligned with the state’s development goals.
He revealed that projected revenue sources include ₦2.38 billion from federal and non-federal assistance, ₦7.9 billion from internally generated revenue, and ₦6.05 billion in grants. The state also plans to secure ₦72.92 billion in loans from domestic and international sources, including development partners, largely for investments in intellectual and human capital development.
It would be recalled that in November, Governor Aiyedatiwa presented a ₦492.8 billion appropriation bill for the 2026 fiscal year to the House of Assembly, proposing ₦167.5 billion for recurrent expenditure and ₦281.99 billion for capital projects.
Leave A Comment