Oyebanji Proposes N490.7bn Budget For 2027
Ekiti State governor, Biodun Oyebanji, on Thursday, presented a 2027 budget proposal of N490,740,209,860, 38.00 billion to the State House of Assembly for consideration and passage.
The governor said the 2027 appropriation bill and budget estimate, which is about 18% higher than the N415.57 billion approved for 2026, is expected to serve as the financial roadmap for the first year of the governor’s second term.
He said the proposed budget, christened ” Budget of Sustained Progress and Prosperity” allocates N275,682,248,40.20 billion (56%) for recurrent expenditure and N 215,057,961, 820, 36.00 billion (44%) for capital expenditure.
Oyebanji who maintained that the proposed budget is carefully and strategically crafted to consolidate on administration’s achievements of the last four years with emphasis on education, health, agriculture, infrastructure, job creation and others.
He said, “To consolidate on the achievements recorded in various sectors of the economy, we have proposed a total Budget size of N490.74 billion in 2027”.
Speaking on how to finance the budget, he said, “Expected revenue sources are Federal Allocation, Value Added Tax (VAT), Independent Revenue (from MDAs and Tertiary Institutions), International Donor Agencies and other sundry income sources”.
While pledging to sustain regular payments of workers salaries and pensions, governor Oyebanji said,
“Mr Speaker, it is with great delight that I inform you that the era of Government owing workers salary is over. While we will sustain our policy to pay Government workers promptly, we will also continue to clear outstanding leave bonuses to workers to improve their welfare.
“Also, we have been consistent in the payment of pensions and gratuity to retirees and settling the arrears of gratuity inherited. In addition, I have approved the commencement of payment of gratuity of retirees under the Contributory Pension Scheme (CPS)”.
He noted that 2026 budget actual revenue performance was 105 percent when 79 percent performance was recorded in the expenditure of the outgoing year budget.
The governor charged the lawmakers on the need to give the budget proposal timely consideration and passage.
Earlier, the Speaker of the Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye, commended the governor for the proposed budget, saying it reflected the aspirations and needs of the people as expressed during town hall engagements across the state’s three senatorial districts.
He assured the governor that the Assembly would give the Bill the thorough and expeditious consideration it deserves; guided always by the Constitution and our collective responsibility to the people.
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