The Ondo State House of Assembly has passed into law the ₦524.41 billion 2026 Appropriation Bill, marking a significant step in the state’s fiscal planning for the coming year.
With the passage of the budget, the Ondo State Government is projected to spend a total of ₦524,410,590,939.00 in the 2026 fiscal year. Of this amount, ₦220,830,941,200.00, representing 42.11 per cent, is allocated to recurrent expenditure, while ₦303,579,649,739.00, representing 57.89 per cent, is earmarked for capital expenditure.
The approved budget reflects an increase of ₦31.61 billion over the original proposal submitted by Governor Lucky Aiyedatiwa, who had earlier presented a total sum of ₦492,795,667,939.00 to the House. The budget was christened the “Budget of Economic Consolidation.”
The House had previously committed the budget proposal to its Committee on Finance and Appropriation for detailed scrutiny and defence by Ministries, Departments, Establishments, Tertiary Institutions and Agencies (MDEAs).
Presenting the committee’s report at plenary presided over by the Speaker, Chief Olamide Oladiji, the Chairman of the House Committee on Finance and Appropriation, Oluwole Ogunmolasuyi, said the committee observed that the fiscal documents adequately reflected current economic realities.
According to him, the committee carefully examined all provisions of the bill and compared them with the 2025 budget performance, noting changes in fiscal priorities due to the failure to secure some contributory funds from donor partners and the impact of fluctuating exchange rates.
He explained that the committee exercised restraint in granting additional requests from MDAs, except in a few critical areas, which resulted in the upward review of the budget by ₦31.61 billion.
The committee also noted that capital project execution in 2025 was adversely affected by limited access to funds and urged MDAs to strengthen their revenue drive mechanisms to boost Internally Generated Revenue (IGR). It further stressed the need for improved funding for staff training and retraining in the public service.
In the approved budget, a sum of ₦14.84 billion was allocated to the Ondo State Oil Producing Areas Development Commission (OSOPADEC) for both recurrent and capital expenditure in 2026.
Following extensive debate, the report of the committee was subjected to third reading and unanimously adopted through a voice vote after a motion moved by the Leader of the House, Chief Olatunji Oshati, and seconded by the member representing Ilaje Constituency I, Prince Abayomi Akinruntan.
The House also passed into law the 2026 budget of the Ondo State Internal Revenue Service (ODIRS) with a total provision of ₦5,563,050,120.00, comprising ₦5,113,062,441.00 for recurrent expenditure and ₦449,987,679.00 for capital expenditure.
Meanwhile, three bills scaled through first reading at the plenary. They include a bill for a law to establish the Ondo State Competition and Consumer Protection Agency; a bill to amend the Ondo State Electric Power Sector Law, 2020; and a bill to establish the Ondo State Honours Roll and Merit Awards, among other related matters.
In his remarks, Speaker Oladiji said the 2026 budget would further stimulate economic growth in the state, assuring that harmonious collaboration between the executive and legislature would continue in the overall interest of Ondo State.
The Speaker said that the House recorded significant legislative achievements during the just-concluded session, with the passage of several people-oriented and life-impacting bills into law.
Oladiji noted that the Assembly took far-reaching decisions in critical areas affecting the welfare and security of residents of the state.
According to him, among the key legislations passed were bills prohibiting harmful traditional practices in local communities, kidnapping and illegal adoption, as well as a law providing for the registration of domestic staff across Ondo State.
He also said the House passed into law a bill establishing the Ondo State Road Fund to support the management, development and rehabilitation of Class C and Class D roads, alongside the maintenance of Class V roads.
In addition, the Speaker noted that the Assembly passed the bill establishing the Ondo State Coastal and Waterways Management Agency to regulate and manage coastal and inland waterways activities in the state.
The Speaker further disclosed that the House amended the Ondo State Public Order (Amendment) Law, 2021, among several other legislations, while many more bills are currently at different stages of consideration.
Oladiji commended members of the House for what he described as improved legislative performance, citing regular attendance, robust debates and effective committee deliberations as evidence of quality representation.
He recalled that the governor had presented the 2026 Appropriation Bill, christened the “Budget of Economic Consolidation,” with a proposed sum of ₦492.79 billion, aimed at consolidating the gains of the 2025 budget, strengthening economic recovery and accelerating development across the state.
The Speaker expressed satisfaction that the House passed the budget into law with a revised total of ₦524.41 billion, applauding the House Committee on Finance and Appropriation and all lawmakers for their commitment to the timely passage of the bill.
He assured the people of Ondo State that the Assembly would ensure proper oversight of the budget’s implementation to guarantee that its provisions translate into tangible benefits for citizens.
Oladiji thereafter announced a six-week recess for the House, effective immediately, with plenary sessions scheduled to resume on February 9, 2026. He also wished lawmakers and residents of the state a merry Christmas and a prosperous New Year in advance.
Credit : [The Hope]
