Osun State House Of Assembly Approves ₦723 Billion Budget For 2026

According to Ireporter Online, the Osun State House of Assembly has approved the 2026 Appropriation Bill totaling ₦723,454,988,670, following weeks of legislative scrutiny and deliberation. The budget, earlier presented to the lawmakers by Governor Ademola Adeleke and tagged “Budget of Economic Transformation,” was passed after a comprehensive review by the House Committee on Finance and Appropriation, alongside inputs from relevant Ministries, Departments, and Agencies.

The Speaker of the Assembly, Adewale Egbedun, confirmed that lawmakers subjected the proposal to extensive debates to ensure alignment with the developmental goals and socio-economic priorities of Osun State. He noted that the fiscal plan underscores accountability, transparency, and prudent management of public funds.

The approved revenue framework comprises an opening balance of ₦16.19 billion, projected recurrent revenue of ₦421.25 billion, and capital receipts estimated at ₦286.01 billion, bringing the total expected inflow to ₦723.45 billion. On the expenditure side, ₦135.01 billion has been earmarked for personnel costs, while ₦185.77 billion is allocated for other recurrent expenses, resulting in total recurrent expenditure of ₦320.77 billion. Capital expenditure stands at ₦402.68 billion, matching the overall budget size. The Speaker commended his colleagues for the swift passage of the appropriation bill.

Meanwhile, in Cross River State, Governor Bassey Otu has signed the ₦961 billion 2026 Appropriation Bill into law. The signing ceremony was held at the Government House in Calabar, with members of the State House of Assembly in attendance.

Governor Otu described the budget as a clear declaration of intent and a firm commitment to social stability, inclusion, and shared prosperity. He explained that the fiscal plan was carefully designed to address present challenges while establishing a strong foundation for sustainable economic growth.

He further stated that the budget prioritizes capital development, with substantial investments directed toward infrastructure, healthcare, education, energy, and social protection. According to the governor, projects such as roads, bridges, urban renewal, and rural connectivity are expected to stimulate economic opportunities across the state.

Emphasizing the importance of human capital development, Otu said education remains a central pillar of his administration’s agenda. He added that provisions have been made for improved learning infrastructure, teacher development, and enhanced educational outcomes aimed at preparing young people for a modern and competitive economy. The governor also praised lawmakers for their diligence, transparency, and commitment throughout the budget process.