Osun State Governor, Ademola Adeleke, formally presented a ₦705 billion budget proposal for the 2026 fiscal year to the Osun State House of Assembly on Wednesday, the 12th of November, 2025.
The financial blueprint, which Governor Adeleke named the “Budget of Economic Transformation,” allocates a substantial 55 percent of the total figure to capital expenditure, with the remaining 45 percent designated for recurrent expenditure.
Presenting the proposal to the lawmakers at the Assembly complex in Osogbo, the Governor emphasized that the budget is built upon the successes achieved over the past three years, following substantial progress in executing the 2025 budget.
Governor Adeleke detailed the revenue sources, stating:
“The total revenue consists of recurrent revenue, where government’s share of FAAC is ₦221,680,000,000 and independent revenue is ₦199,573,229,320.”
He further noted that other receipts amount to ₦268,348,518,860, which brings the total proposed budget to ₦705 billion for the 2026 fiscal year.
Regarding the planned spending, the Governor explained the breakdown of the recurrent funds: “The expenditure comprises recurrent expenditure of ₦317,414,353,350, representing 45 percent of the total budget. Recurrent expenditure is divided into personnel costs of ₦135,005,722,430 and overhead costs of ₦182,408,630,920, covering salaries, allowances, pensions, and gratuities,” he said.
He confirmed that the majority of the funding, ₦388,379,695,320, accounts for the 55 percent allocated to capital expenditure. Adeleke stressed that the budget adheres to legal requirements:
“The 2026 budget proposal is prepared based on the projection of the 2026–2028 Medium-Term Expenditure Framework (MTEF), as required by the Osun State Fiscal Responsibility Law 2012,” he added.
The Governor highlighted that infrastructure development has seen remarkable improvements since his administration took office, expressing his firm determination to sustain progress across all sectors. He noted significant achievements in road works:
“With the construction of over 300 kilometres of roads across the three senatorial districts and flyovers to ease traffic congestion, we have delivered over 75 percent of our road infrastructure projects. We will not leave any project uncompleted.”
Adeleke reiterated his strong commitment to the well-being of the state’s workforce and retirees:
“Our administration will continue to ensure prompt payment of full salaries and pensions to Osun workers and retirees, which we have maintained since assuming office in 2022,” he said.
In the health sector, the Governor detailed recent initiatives: “We embarked on the Imole Medical and Surgical Outreach across all six federal constituencies between January and February 2025, continuing from December 2024. Additionally, we inaugurated 10,000 youths into the Imole Youth Corps Scheme to tackle unemployment and poverty.”
He also took time to commend philanthropist Folorunso Alakija for donating a Medical Research and Training Hospital to the state, stating:
“I want to sincerely appreciate the Alakija family for this gesture. The UNIOSUN Teaching Hospital has also witnessed infrastructural renewal, digital innovation, and improved staff welfare,” he noted.
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The Speaker of the House of Assembly, Adewale Egbedun, welcomed the Governor, praising him for his transparency, prudence, and accountability in managing state finances. Speaker Egbedun affirmed the positive impact of the current administration’s fiscal policies:
“The implementation of the 2024 and 2025 budgets has produced measurable outcomes in infrastructure, education, healthcare, social inclusion, and workers’ welfare. These reflect a government committed to transforming policy into tangible benefits,” Egbedun said.
He also commended the Governor’s handling of local government administration disputes, adding: “Your approach, grounded in fairness, dialogue, and the rule of law, demonstrates statesmanship of the highest order,” he added.
The Speaker gave an assurance that the Assembly will conduct a thorough scrutiny of the budget, confirming that
“Every allocation must serve the public interest and contribute meaningfully to sustainable development across all sectors,” Egbedun added.