By Samuel Sunday
The Ekiti State Executive Council has approved major fiscal and policy decisions aimed at strengthening governance, expanding infrastructure and promoting sustainable economic development in the state.
The decisions were taken at the Eighth Meeting (2026) of the Council held on Wednesday, 7th October, 2026, at the Executive Council Chamber, New Governor’s Office, Ado-Ekiti, presided over by Governor Biodun Oyebanji.
Commissioner for Information, Rt. Hon. Taiwo Olatunbosun, disclosed this in a statement after the meeting.
According to the Commissioner, the Council approved five key items, including three major fiscal documents and two critical Bills.
The Council approved the 2027–2029 Medium-Term Expenditure Framework (MTEF) for presentation to the Ekiti State House of Assembly.
The framework, prepared in line with the Ekiti State Fiscal Responsibility Law, 2020, contains the Medium-Term Sectoral Strategy (MTSS) and Multi-Year Budget Framework (MYBF). It was developed using uniform macroeconomic parameters recommended by the Nigeria Governors’ Forum, including an oil price benchmark of $60 per barrel, exchange rate of N1,400 to $1, GDP projection of N545.81 trillion, crude oil production of 1.75 million barrels per day and inflation rate of 15.90 per cent.
Under the MTEF, total revenue is projected at N637.12 billion in 2027, N637.08 billion in 2028 and N610.51 billion in 2029. Total expenditure is projected at N630.12 billion in 2027, N630.08 billion in 2028 and N603.51 billion in 2029.
The Council noted that the framework aligns with the Ekiti State Development Plan 2021–2050 and will serve as the fiscal foundation for the 2027 Budget.
The Council also approved a proposed 2026 Revised Budget of N415.57 billion for transmission to the House of Assembly.
The revised estimate comprises N268.76 billion recurrent expenditure and N146.80 billion capital expenditure, representing a 65:35 ratio. The size essentially retains the original 2026 Appropriation Law signed on December 23, 2025, while accommodating priority projects.
The Council reviewed budget performance as of August 30, 2026, which showed total revenue of N322.92 billion, representing 109 per cent of the prorated target, driven by improved IGR and increased federal statutory inflows. Total expenditure as of same date stood at N242.86 billion, representing 58 per cent performance.
Furthermore, the Council approved a N490.74 billion 2027 Budget proposal for legislative processing.
The proposed budget, representing an 18 per cent increase over the 2026 budget, comprises N275.68 billion recurrent expenditure and N215.05 billion capital expenditure, with a 56:44 ratio.
The budget, prepared after town hall meetings across the three senatorial districts, prioritizes education, healthcare, infrastructure, agriculture and food security, job creation and effective public administration. It is aligned with the six pillars of the Oyebanji administration and the State Development Plan 2021–2050.
In a major ease-of-doing-business reform, the Council approved the Ekiti State Right of Way Bill, 2026, for presentation to the Assembly. The Bill seeks to provide a clear legal framework for the administration of Right of Way permits and regulation of network facilities.
The Council also approved the waiver of charges per linear metre for Right of Way and conversion of Base Transceiver Station (BTS) charges to annual charges, in line with the federal benchmark of N145 per linear metre. The decision is aimed at accelerating broadband deployment, attracting telecoms investment and meeting requirements under the State Action on Business Enabling Reforms (SABER) Programme.
The Council also approved the Ekiti State Pension Reform Law (Second Amendment) Bill, 2026, to strengthen the governance structure of the Ekiti State Pension Commission. The amendment seeks to enable the Commission to report directly to the Governor and allow the Governor to appoint either a Permanent Secretary or Director-General as its accounting officer for greater administrative flexibility.
Olatunbosun said all approved Bills and fiscal documents will be transmitted to the Ekiti State House of Assembly for legislative consideration, adding that the decisions demonstrate the administration’s commitment to prudent fiscal management, institutional efficiency and sustainable development.
