Gov Oyebanji signs N415.57bn 2026 budget into law

Ekiti State Governor, Biodun Oyebanji, on Tuesday signed the state’s N415.57 billion budget for 2026 into law.

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The governor also assented to two bills, namely the State Revenue Administration Law, 2025 and Ekiti State College of Technology, Ijero Ekiti Law 2025

The governor laid the 2026 Appropriation Bill before the Ekiti State House of Assembly on 10 October.

According to Mr Oyebanji, the budget christened “Budget of Sustainable Governance,” has 53 per cent appropriated for recurrent expenditure and 47 per cent for capital expenditure.

“It is worthy of note that the fiscal document is a product of wide consultation with the good people of Ekiti State and prepared in line with global best practices,” he said.

The governor said that the breakdown of the 2026 Budget would be presented to the members of the public and the press by the Commissioner for Budget and Economic Planning in the coming days.

Speaking on the Ekiti State Revenue Administration Law, 2025, Mr Oyebanji noted that with its coming into force, Ekiti State officially becomes the first in the federation to align its internal revenue laws with the four new National Tax Reform Acts

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“Revenue Administration and Tax laws are changing at the national and sub-national levels, and Ekiti must lead that change. This Law repeals the Ekiti State Board of Internal Revenue Law 2019, (As Amended), to bring us into full conformity with national legislations, to adopt and promulgate the State Harmonised Taxes and Levies (Approved List of Collection) sent by Joint Revenue Board (JRB) with technical support provided by the AGF’s secretariat and to affirm the commitment of the Government of Ekiti State to the implementation of the State Action on Business Enabling Reforms (SABER).

READ ALSO: 2026 budget passes second reading at Senate

“Tax Law in the opinion of the Joint Tax Board (JTB) reinforces our reputation as a reform-driven and business-friendly state. It also sets a commendable benchmark for other states of the federation to emulate,” he said.

He lauded President Bola Tinubu for his transformative leadership, courage and sincerity in piloting the affairs of the country and his very strong support for Ekiti State.