Ondo Assembly Passes ₦524.4bn 2026 Budget into Law
By Oyeniwa Elizabeth
The Ondo State House of Assembly has passed into law the ₦524.41 billion 2026 Appropriation Bill, marking a significant milestone in the state’s fiscal planning for the coming year.
The approved budget, christened the “Budget of Economic Consolidation”, reflects an increase of ₦31.61 billion over the original proposal submitted by Governor Lucky Aiyedatiwa.
The budget allocates ₦220,830,941,200.00 (42.11%) for recurrent expenditure and ₦303,579,649,739.00 (57.89%) for capital projects.
The chairman House Committee on Finance and Appropriation, Hon Oluwole Ogunmolasuyi, presented the committee’s report at the floor of the House which contained a detailed review of the budget proposal, considering current economic realities and 2025 budget performance.
The committee noted changes in fiscal priorities due to the failure to secure some contributory funds from donor partners and the impact of fluctuating exchange rates.
The committee urged Ministries, Departments, Establishments, Tertiary Institutions, and Agencies (MDEAs) to strengthen their revenue drive mechanisms to boost Internally Generated Revenue (IGR).
A notable allocation in the budget is ₦14.84 billion to the Ondo State Oil Producing Areas Development Commission (OSOPADEC) for both recurrent and capital expenditure in 2026.
The Assembly 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.
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.
The Speaker, Rt. Hon. Olamide Oladiji commended lawmakers for their improved legislative performance, citing regular attendance, robust debates, and effective committee deliberations.
The Speaker said the Assembly recorded significant legislative achievements during the just-concluded session, with the passage of several people-oriented and life-impacting bills.
Among the key legislations passed were bills prohibiting harmful traditional practices, kidnapping, and illegal adoption, as well as a law providing for domestic staff registration.
The Assembly also passed bills establishing the Ondo State Road Fund and the Ondo State Coastal and Waterways Management Agency.
Oladiji while wishing the Lawmakers and residents a merry Christmas and a prosperous New Year in advance, assuring oversight of budget implementation, announced a six-week recess for the House, effective immediately, with plenary sessions scheduled to resume on February 9, 2026.
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