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The Osun State House of Assembly has approved the 2026 Appropriation Bill, which features a total budget of ₦723,454,988,670.00 following several weeks of legislative examination on Wednesday.
This approval, as stated by the Chief Press Secretary of the House of Assembly Speaker, Olamide Tiamiyu on Thursday, came after thorough discussions among lawmakers and a comprehensive review by the House Committee on Finance and Appropriation, incorporating feedback from pertinent Ministries, Departments, and Agencies.
The budget, titled "Budget of Economic Transformation," was characterized by the Assembly as a crucial element of the state's fiscal strategy for the 2026 financial year.
The statement noted, “Members of the House engaged in discussions aimed at ensuring that the proposals reflected the developmental priorities and socio-economic needs of residents throughout the state.”
The 2026 budget was introduced to the Assembly on November 12, 2025, by the state governor, Ademola Adeleke.
According to the estimates, “the budget is designed to facilitate infrastructure development, social services, and vital sectors such as education, healthcare, agriculture, and economic empowerment.”
“The revenue forecast includes an opening balance of ₦16,192,300,490.00, recurrent revenue of ₦421,253,229,320.00, and capital receipts totaling ₦286,009,458,860.00.
“These amounts lead to a total projected inflow for the 2026 fiscal year of ₦723,454,988,670.00.
“On the expenditure side, personnel costs are estimated at ₦135,005,722,430.00, while other recurrent expenditures are projected at ₦185,768,933,880.00.
“This results in a total recurrent expenditure of ₦320,774,356,310.00, with capital expenditure allocated at ₦402,680,332,360.00.”
After the passage, the Speaker of the House, Adewale Egbedun, praised lawmakers for their collaboration, stating that the Assembly “is dedicated to safeguarding the interests of the people and ensuring effective oversight of public funds.”
The House also urged the Executive to ensure the timely implementation of the approved budget.
Furthermore, it was noted that the bill will be forwarded to Governor Ademola Adeleke for his assent.
Frequently Asked Questions
What is the total budget size approved by the Osun State House of Assembly for 2026?
The total budget size approved is ₦723,454,988,670.00.
What are the main components of the 2026 budget?
The main components include support for infrastructure development, social services, education, healthcare, agriculture, and economic empowerment.
Who presented the 2026 budget to the Assembly?
The 2026 budget was presented to the Assembly by the state governor, Ademola Adeleke, on November 12, 2025.
Eze Chidiebere Paul
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