ONDO STATE 2026 BUDGET TARGETS CONSOLIDATION, GROWTH - AKINDOLIRE




‎The Ondo State Commissioner for Economic Planning and Budget, Mr. Olaolu Akindolire has described the 2026 Appropriation bill as strategic, realistic, and people-centred, aimed at fast tracking the overall development of the state.

‎Mr Akindolire while outlining the major components of the appropriation bill shortly after signing it into law by the State Governor, Dr Lucky Orimisan Aiyedatiwa disclosed that the total size of the 2026 Budget stands at ₦524.41 billion.

‎He explained that the budget was structured towards strengthening fiscal sustainability, reducing economic vulnerabilities, and ensuring long-term resilience of the State’s economy.

‎According to the him, the revenue framework projects ₦238.53 billion from federal transfers (FAAC receipts), ₦44.79 billion from Internally Generated Revenue (IGR), and ₦6.05 billion from grants and aid.

‎He added that the State plans to raise ₦72.92 billion through local and foreign borrowings, including loans from development partners, stressing that such borrowings would be strictly tied to capital and growth-enhancing projects.

‎Mr. Akindolire further revealed that recurrent expenditure for the 2026 fiscal year is estimated at ₦220.83 billion, representing 42.11 per cent of the total budget. He said this allocation would cover personnel costs, overheads, and the provision of essential public services required for the effective functioning of government.

‎On capital expenditure, the Commissioner said  government has earmarked ₦303.58 billion, representing 57.89 per cent of the total budget size,  saying it reflects the administration’s strong commitment to infrastructure development and long-term economic growth.

‎Breaking down sectoral allocations, Akindolire stated that Infrastructural Development received the largest share with ₦144.48 billion, representing 27.6 per cent of the total budget, targeted at road construction and other critical public infrastructure.

‎He said the Education sector was allocated ₦64.57 billion (12.3 per cent) to advance human capital development, while the Health sector received ₦59.54 billion (11.4 per cent) to improve healthcare delivery and strengthen health outcomes across the State.

‎The Commissioner added that Public Finance sector was allocated ₦95.11 billion, representing 18.1 per cent of the budget, to ensure effective fiscal coordination and meet debt obligations.

‎He added that the Agricultural Sector received ₦29.67 billion (5.7 per cent) to boost food security, agro-research, and rural value chains.

‎Mr. Akindolire explained that General Administration was allocated ₦35.25 billion (6.7 per cent), while Administration of Justice received ₦20.58 billion (3.9 per cent). Community Development was allocated ₦16.37 billion (3.1 per cent), Regional Development received ₦15.51 billion (3.0 per cent), and Legislative Administration was provided with ₦13.01 billion (2.5 per cent).

‎Other key sectors, including Trade and Industry, Environment and Sewage Management, Energy, and Information, also received targeted allocations to support economic growth, environmental sustainability, and public wellbeing.

‎Describing the 2026 Budget as more than a fiscal document, Akindolire said it represents a social contract between the government and the people of Ondo State.

‎He called for strong collaboration among the executive and legislative arms, ministries, departments and agencies, the private sector, civil society organisations, and development partners to ensure effective implementation.

‎He reaffirmed the government’s commitment to value-for-money spending, transparency, and robust monitoring, while expressing appreciation to all stakeholders for their contributions and support, expressing confidence that the successful implementation of the budget would deliver tangible benefits to the people of Ondo State.

‎Earlier, the Ondo State Governor, Dr Lucky Orimisan Aiyedatiwa, while signing it into law said the 2026 appropriation bill was as far more than a statutory requirement, describing it as a solemn reaffirmation of his administration's collective commitment to the progress, stability and sustainable development of the Sunshine State.

‎Governor Aiyedatiwa said the 2026 'Budget of Economic Consolidation' is a strategic blueprint was designed to respond effectively to prevailing national economic realities while positioning Ondo State on a path of self-reliance, resilience and enduring prosperity.

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