Gov. Ademola Adeleke of Osun on Wednesday presented N705 billion before the state assembly as the 2026 draft budget for consideration and approval.
Adeleke said the budget, christened “Budget of Economic Transformation”, is a financial document declaring his administration’s unwavering commitment to improving the lives of every citizen of the state.
The governor said the budget comprises Recurrent Expenditure of N317 billion, made up of personnel cost of N135 billion and overhead cost of N182 billion, which represents 45 per cent of the total budget.
Adeleke also said that the Capital Expenditure amounts to ₦388 billion, which is 55 per cent of the total budget.
The governor said the projected revenue expected in 2026 is N22.7 billion from government share of Federation Account Allocation Committee ( FAAC), Independent Revenue of N199.6 billion, and other receipts of N268 billion.
He said the 2026 budget proposal was prepared based on the projection of the 2026 – 2028 Medium Term Expenditure Framework (MTEF) as required by the State Fiscal Responsibility Law 2012.
In his remarks, Mr Adewale Egbedun, Speaker of the Assembly, said the presentation of the budget was constitutionally permissive under Section 121 (1) of the 1999 Constitution of the Federal Republic of Nigeria (amended).
Egbedun said the assembly would give legislative support to the executive and continue to promote equity, trust, justice, transparency, and prosperity in the state.
He said the assembly would also demand thorough accountability from the heads of ministries, agencies, and departments of government for previous appropriations and expenditures during oversight functions.
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