Osun State Governor, Ademola Adeleke, has presented a ₦705.794 billion budget proposal for the 2026 fiscal year to the State House of Assembly, describing it as a “Budget of Economic Transformation.”
The proposal was prepared in line with the 2026–2028 Medium-Term Expenditure Framework (MTEF), as mandated by the Osun State Fiscal Responsibility Law, 2012. Adeleke said the budget is designed to consolidate ongoing reforms, stimulate growth, and deepen infrastructural and human capital development across the state.
Breaking down the figures, the governor explained that the budget consists of ₦317.414 billion in recurrent expenditure, representing 45% of the total proposal, and ₦388.380 billion in capital expenditure, accounting for 55%. He noted that the tilt towards capital spending reflects his administration’s commitment to long-term development and economic expansion.
Recurrent expenditure is further divided into personnel costs of ₦135.006 billion and overhead costs of ₦182.409 billion. These cover salaries, allowances, pensions, and gratuities for public servants and retirees.
On the revenue side, Adeleke stated that the budget will be funded through a mix of recurrent revenue sources. These include Federation Account Allocation Committee (FAAC) inflows estimated at ₦221.680 billion, internally generated (independent) revenue projected at ₦199.573 billion, and other receipts totaling ₦268.349 billion.
The governor assured lawmakers that his administration would continue to prioritise fiscal discipline, transparency, and value-for-money in project execution, while intensifying efforts to broaden the state’s revenue base without overburdening citizens.
Earlier, the Speaker of the Osun State House of Assembly, Hon. Adewale Egbedun, commended Adeleke for what he described as transparent and responsible management of state resources. He promised that the legislature would subject the 2026 Appropriation Bill to rigorous but constructive scrutiny.
“As we formally receive the 2026 Appropriation Bill, this House pledges full cooperation and constructive engagement,” Egbedun said. “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 also urged heads of ministries, departments, agencies, and parastatals to ensure that funds allocated to their offices are deployed efficiently and directly impact the people of Osun State.
