Gbenga Sodeinde in Ado-Ekiti
Ekiti State Governor, Biodun Oyebanji, yesterday, unveiled a proposed N490.74 billion budget for the 2027 fiscal year, describing it as the financial blueprint that would consolidate the gains of his first term while accelerating the state’s drive towards sustained economic growth, prosperity, and long-term development.
The appropriation bill, christened, “Budget of Sustained Progress and Prosperity,” was presented to Ekiti State House of Assembly in Ado-Ekiti in accordance with Section 124(4) of the 1999 Constitution (as amended).
Presenting the estimates before the lawmakers, the governor said the 2027 proposal marked the beginning of another phase in his administration’s development agenda. He said it was carefully crafted to deepen ongoing reforms, expand critical infrastructure, stimulate economic activities, and improve the welfare of the people.
Oyebanji explained that the budget was also deliberately aligned with the state’s 30-Year Development Plan (2021-2051).
He said every expenditure proposal was designed to keep Ekiti on the path of sustainable growth beyond the current administration.
The proposed budget has a total expenditure of N490.74 billion, comprising N275.68 billion for recurrent expenditure and N215.06 billion earmarked for capital projects.
According to the governor, implementation of the budget would revolve around the six pillars of his administration, namely education and healthcare; good governance and transparency; arts, culture and tourism; youth development and job creation; infrastructure and industrialisation; as well as agriculture and rural development.
He said the appropriation would consolidate the achievements already recorded under the administration’s Shared Prosperity Agenda, while opening new opportunities for investment, wealth creation, and inclusive development across the state.
The governor expressed confidence that the proposed spending plan would strengthen the state’s economic resilience and deliver projects capable of improving the quality of life of residents in both urban and rural communities.
Earlier, Speaker of Ekiti State House of Assembly, Hon. Adeoye Aribasoye, commended the governor for presenting what he described as a people-oriented budget.
Aribasoye said the proposal reflected priorities identified during town hall consultations held across the state’s three senatorial districts.