Governor Ademola Adeleke of Osun State on Wednesday presented a N705 billion 2026 Budget of Economic Transformation to the State House of Assembly, with 55 percent allocated for capital expenditure and 45 percent for recurrent expenditure.
While presenting the budget before lawmakers at the Assembly Complex in Osogbo, Governor Adeleke said the fiscal plan builds on the achievements of his administration over the past three years and reflects the state’s commitment to sustainable economic growth, infrastructural renewal, and social welfare.
According to the him, the total revenue for the 2026 fiscal year comprises N221.68 billion from the Federation Account Allocation Committee (FAAC), N199.57 billion as internally generated revenue, and N268.35 billion from other receipts.
He explained that recurrent expenditure is projected at N317.41 billion, including personnel costs of N135.01 billion and overhead costs of N182.41 billion, while capital expenditure is estimated at N388.38 billion.
“The 2026 Budget Proposal is prepared on the projection of the 2026 -2028 Medium-Term Expenditure Framework (MTEF), in line with the Osun State Fiscal Responsibility Law 2012,” Governor Adeleke said.
Recounting the achievements of his administration, the Governor highlighted the completion of over 75 percent of road projects initiated under his government, including more than 300 kilometres of roads and several flyovers aimed at easing traffic congestion across the state.
He, however reaffirmed his administration’s commitment to prompt payment of salaries and pensions, youth empowerment, and improved healthcare delivery.
“We have remained consistent with full salary and pension payments since 2022. We also recruited 10,000 young people into the Imole Youth Corps to tackle unemployment and promote productivity.
“In the health sector, we expanded the Imole Medical and Surgical Outreach across all federal constituencies and witnessed major improvements at the UNIOSUN Teaching Hospital. I must also commend Mrs. Folorunso Alakija for donating the state of the art Medical Research and Training Hospital to Osun State” he added.
Earlier in his remarks, Speaker of the House, Rt. Hon. Adewale Egbedun, commended Governor Adeleke for what he described as transparent and prudent management of the state’s finances.
“Your Excellency has displayed exceptional leadership and accountability in steering Osun State through economic challenges. Despite the withholding of local government allocations by the Federal Government since March 2025, your administration has sustained development projects and workers’ welfare.
“Every allocation must serve the public interest and contribute meaningfully to sustainable development across all sectors”, Egbedun added.
