Governor of Ekiti State, Biodun Oyebanji, is set to present a proposed N490.74bn budget for 2027 to the state House of Assembly for consideration and passage.
The proposed N490,740,209,860.38 budget represents an 18 per cent increase over the 2026 appropriation.
The state Commissioner for Information, Taiwo Olatunbosun, disclosed this in a statement in Ado Ekiti on Wednesday, saying the State Executive Council (SEC) had approved the proposal.
He said the budget was prepared in line with the 1999 Constitution, as amended, following consultations with Ministries, Departments and Agencies and other stakeholders.
Olatunbosun said inputs from stakeholders were also obtained through town hall meetings held across the three senatorial districts.
The commissioner said the proposed budget prioritised education and healthcare under the social sector, while infrastructure, agriculture, food security and job creation would drive the economic sector.
Governance and effective public administration were identified as priorities under the administrative sector.
He said the budget was designed to consolidate the achievements of the Oyebanji administration while funding new programmes and projects.
The proposal is also aligned with the Ekiti State Development Plan 2021–2050, the 2027–2029 Medium-Term Expenditure Framework, the administration’s six-point agenda and the work plans of government ministries, departments and agencies.
The proposed budget comprises N275.68bn for recurrent expenditure and N215.06bn for capital expenditure, representing a 56:44 ratio.
Olatunbosun said the proposal was based on key macroeconomic assumptions recommended by the Nigeria Governors’ Forum, including a crude oil benchmark of $60 per barrel, an exchange rate of N1,400 to the dollar, crude oil production of 1.75 million barrels per day and national inflation of 15.90 per cent.
Other assumptions include GDP growth of 4.30 per cent, an unemployment rate of 22.6 per cent and a mineral ratio of 21 per cent.
The commissioner said the programmes and projects contained in the proposed appropriation were consistent with the administration’s development priorities.
He added that the State Executive Council had approved the presentation of the N490.74bn Appropriation Bill to the Assembly for legislative consideration and passage.
Discussion0