Nigeria: Osun, Adeleke presents $489.3mln 2026 budget

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Osun State Governor, Ademola Adeleke, on Wednesday, presented the state’s 2026 budget of N705.794 billion tagged: “Budget of Economic Transformation,” with assurance that his administration would take the state to an enviable height through infrastructural and human capital development.

While presenting the budget on the floor of the state House of Assembly, the governor hinted that the recurrent expenditure is N317.41bn, which is 45% of the total budget, while Capital Expenditure, which is N388.37bn, stands at 55% of the budget.

He said, “the total Revenue consists of Recurrent Revenue, where Government Share of FAAC is Two Hundred and Twenty-One Billion, Six Hundred and Eighty Million Naira (N221,680,000,000.00) and Independent Revenue is One Hundred and Ninety-Nine Billion, Five Hundred and Seventy-Three Million, Two Hundred and Twenty-Nine Thousand, three Hundred and Twenty Naira (N199,573,229,320.00) While, other Receipts is Two Hundred and Sixty-Eight Billion, Three Hundred and Forty-Eight Million, Five Hundred and Eighteen Thousand, Eight Hundred and Sixty Naira (N268,348,518,860.00).

“The Expenditure comprises of Recurrent Expenditure of Three Hundred and Seventeen Billion, Four Hundred and Fourteen Million, Three Hundred and Fifty-Three Thousand, Three Hundred and Fifty Naira (₦317,414,353,350.00), which is 45% of the total budget.

“Recurrent Expenditure is divided into Personnel Cost of N135,005,722,430.00 and Overhead Cost of ₦182,408,630,920.00 made up of Salaries and Allowances as well as Pensions and Gratuities.

“It is my pleasure and honour to present to this Honourable House, the Osun State 2026 Appropriation Bill of N705.794 Billion christened Budget of Economic Transformation for consideration and approval.”

He, however, disclosed that his administration has delivered over 75% of the road infrastructure embarked upon by this administration and promised not to leave any project uncompleted.

The governor, who also expressed commitment to building a robust and diversified economy capable of navigating contemporary challenges, pointed out that by leveraging Osun’s diverse economic potential, “we are creating a dynamic system that adapts, evolves and withstands emerging shocks.”

“This budget is our commitment to fostering sustainable growth, promoting equity, and strengthening resilience through pragmatic and inclusive policies,” the governor added.

“It has been the determination of his administration from inception to take Osun to an enviable height through infrastructural and human capital development. “In our resolve at the very beginning to lay a solid foundation to achieve these laudable goals, was derived from the Osun State Development Plans, 2023 – 2050. It is important to state that our major focus is to complete all ongoing projects across the State, and embark on new ones where critically essential.”

Speaking earlier, the Speaker, Adewale Egbedun, assured the governor that the House will conduct careful legislative scrutiny to ensure that the budget reflects the hopes and aspirations of the people of the State.

He, however, commended his prudence in financial management, “especially under the constraints arising from the withholding of Local Government allocations by the Federal Government since March 2025.”