The Ekiti State Government has approved a proposed budget of N490.74 billion for the 2027 fiscal year, with emphasis on infrastructure development, agriculture, food security, healthcare, education and employment generation.
The proposed estimate is 18 per cent higher than the state’s N415.57 billion budget for 2026. It allocates N275.68 billion to recurrent expenditure and N215.06 billion to capital projects, translating to a recurrent-to-capital expenditure ratio of 56:44.
The Ekiti State Executive Council approved the proposal at its meeting on Wednesday, paving the way for its submission to the State House of Assembly for consideration and passage.
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According to the council, the budget was developed with contributions from Ministries, Departments and Agencies (MDAs), as well as stakeholders who participated in town hall meetings held across the state’s three senatorial districts.
The Commissioner for Information, Taiwo Olatunbosun, said in a statement that the proposed budget was designed to build on the achievements of Governor Biodun Oyebanji’s administration while providing funding for additional programmes and projects.
He explained that the social sector would prioritise education and healthcare delivery, while the economic sector would concentrate on infrastructure, agriculture, food security and job creation.
The administrative sector, meanwhile, would focus on improving governance and strengthening public administration.
The government said the proposed budget aligns with the Ekiti State Development Plan 2021–2050, the administration’s six-point agenda and the newly approved 2027–2029 Medium-Term Expenditure Framework (MTEF).
Under the MTEF, the state projected total revenue of N637.12 billion for 2027, comprising N440.93 billion in recurrent revenue and N196.19 billion in capital receipts.
The Executive Council also approved a revised budget of N415.57 billion for 2026, consisting of N268.77 billion for recurrent expenditure and N146.81 billion for capital expenditure.
It said the revision followed an assessment of budget performance and was intended to accommodate priority projects and critical sectors of the economy.
The council noted that the 2027–2029 MTEF, the revised 2026 budget and the proposed 2027 budget would collectively establish the financial framework for implementing government programmes and projects over the coming years.
Ekiti Approves Right of Way Bill to Encourage Investment
In another development, the council approved the Ekiti State Right of Way Bill, 2026, for transmission to the State House of Assembly.
It also approved a waiver of charges per linear metre for Right of Way and the conversion of fees applicable to Base Transceiver Stations into annual charges, subject to periodic review.
The measures are intended to encourage investment, speed up broadband deployment and improve the state’s business environment.
The proposed legislation is expected to establish a legal framework for issuing and regulating permits for telecommunications network infrastructure. It is also aimed at providing greater clarity and certainty for investors and telecommunications operators.
Council Approves Pension Reform Amendment
The council further approved the Ekiti State Pension Reform Law (Second Amendment) Bill, 2026, for submission to the State House of Assembly.
The proposed amendment seeks to introduce greater flexibility into the administrative structure of the Ekiti State Pension Commission and clarify its reporting arrangements.
Under the proposed changes, either a Permanent Secretary or a Director-General could serve as the commission’s accounting officer. The commission would also report directly to the Governor.
The proposed budget, the revised 2026 estimates and the accompanying legislative measures will now proceed through the relevant processes for further consideration and implementation, subject to the required approvals.
