Nigeria: Gov Adeleke Presents N705.794bn 2026 Budget Proposal

By Shina Abubakar, Osogbo

Osun State Governor, Ademola Adeleke, has presented a N705.794 billion budget proposal for 2026 before the State House of Assembly.

Dubbed the "Budget of Economic Transformation," the proposal was prepared based on the 2026-2028 Medium-Term Expenditure Framework (MTEF) as required by the Osun State Fiscal Responsibility Law, 2012.

The governor said the budget comprises recurrent expenditure of ₦317.414 billion, representing 45% of the total budget, and capital expenditure of ₦388.380 billion, accounting for 55%.

Recurrent expenditure is further divided into personnel costs of ₦135.006 billion and overhead costs of ₦182.409 billion, covering salaries, allowances, pensions, and gratuities.

On revenue generation, Adeleke explained that the budget will be funded through recurrent revenue, including FAAC allocations of ₦221.680 billion, independent revenue of ₦199.573 billion, and other receipts totaling ₦268.349 billion.

Earlier, the Speaker of the Assembly, Hon. Adewale Egbedun, commended the governor for his transparency in resource management and assured him of the lawmakers' support.

Egbedun urged heads of ministries, agencies, and parastatals to ensure that every allocation serves the people effectively.

"As we formally receive the 2026 Appropriation Bill, this House pledges full cooperation and constructive engagement. Every allocation must serve the public interest and contribute meaningfully to sustainable development across all sectors. The House commits to a review process guided by prudence, fairness, and the welfare of our citizens," he said.

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