Governor Ademola Adeleke of Osun State has presented a ₦705.7 billion budget proposal for the 2026 fiscal year, with a bold focus on capital expenditure and infrastructural development aimed at transforming the state’s economy.
Tagged “Budget of Consolidation and Sustainable Growth,” the proposal was formally laid before the Osun State House of Assembly on Wednesday, marking Adeleke’s second full-year budget since assuming office.
According to the breakdown, ₦432.5 billi representing 61.3% of the total estimate — is earmarked for capital projects, while ₦273.2 billion is allocated for recurrent expenditure.
“This budget underscores our administration’s commitment to job creation, infrastructure renewal, digital governance, and human capital development,” Governor Adeleke told lawmakers during the presentation.
“We are determined to build an Osun that is self-sustaining, investment-friendly, and future-ready.”
Focus Areas
The governor listed priority sectors to include road construction, education, healthcare, agriculture, ICT innovation, and renewable energy, stressing that the proposed spending aligns with his administration’s medium-term development plan.
He also noted that the 2026 budget is designed to improve the state’s internally generated revenue (IGR) while ensuring fiscal responsibility and transparency in public spending.
“Our revenue drive will focus on blocking leakages, expanding the tax net, and leveraging technology to ensure accountability,” Adeleke said.
Legislative Response
In his remarks, the Speaker of the Osun State House of Assembly, Rt. Hon. Adewale Egbedun, commended the governor for what he described as a “visionary and people-oriented budget,” assuring that the legislature would give the proposal accelerated but thorough consideration.
Background
The 2026 fiscal plan marks a significant increase from the ₦580 billion approved for 2025, reflecting Adeleke’s renewed push to accelerate capital projects across the state.
Economic analysts say the heavy CAPEX focus signals the administration’s intent to drive long-term growth through infrastructure investment and industrialization, particularly as Osun seeks to attract private sector partnerships.
If approved, the 2026 budget will position Osun among the top subnational states in capital investment ratio nationwide a move observers say could “reshape the state’s economic trajectory” if effectively implemented.
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