A N939.85 billion budget estimate for the 2026 fiscal year christened the “Budget of Hope and Growth”, was on Tuesday presented to the Edo State House of Assembly by Governor Monday Okpebholo.
Newsmata.com.ng reports that Governor Okpebholo had on December 10, 2024, presented a budget estimate of N605 billion for the 2025 fiscal year to the legislature with N223 billion, or 37 per cent earmarked for recurrent expenditure and the remaining N381 billion, which represented 63 per cent, allocated to capital projects.
The budget was however jacked up to N675bn, an increase of N70bn, by the time it was passed by the House with N225bn allocated to recurrent expenditure and N451bn for capital expenses.
The figures were further reviewed upwards in September to N799.820bn, representing an increase of approximately N125 billion, or 18 per cent.
The 2026 budget, which is over N140bn bigger than that of 2025, represented an ambitious fiscal roadmap aimed at consolidating the gains of his first year in office and restoring public confidence in governance.
Presenting the budget, Governor Okpebholo said the 2026 fiscal plan was carefully designed to build on the foundation laid in 2025 while expanding the reach of government programmes to directly impact the lives of Edo people across all sectors of the economy.
According to the governor, the budget prioritises critical areas of sustainable development, including security, infrastructure, agriculture, education, job creation and healthcare, stressing that his administration remained committed to delivering “development the people can see and feel.”
A breakdown of the proposal showed a total expenditure of ₦939.85 billion, with N637 billion for capital expenditure, representing 68 per cent of the budget, while ₦302 billion is earmarked for recurrent expenditure, accounting for 32 per cent.
Governor Okpebholo explained that the strong emphasis on capital spending was a reflection of his administration’s determination to fast-track development through strategic investments in roads, schools, hospitals, water supply, housing and other high-impact economic projects across the state.
He disclosed that the 2026 budget would be funded through Internally Generated Revenue (IGR) estimated at ₦160 billion, Federation Account Allocation Committee (FAAC) allocations projected at ₦480 billion, capital receipts and grants of ₦153 billion, ₦146 billion from Public-Private Partnerships (PPP), as well as other viable revenue windows available to the state.
The governor assured Edo residents that the government would not impose unnecessary financial burdens on citizens, noting that the administration would instead intensify efforts to strengthen revenue systems, block leakages and improve public finance management.
Under sectoral allocations, the economic sector received the largest share with ₦614.2 billion allocated to agriculture, roads, transport, urban development and energy. Priority areas include rural and urban road construction, completion of two flyovers, drainage works, urban renewal, and expansion of farm estates and irrigation facilities.
The social sector was allocated ₦148.9 billion to cater for education, healthcare, youth development, women affairs and social welfare.
Planned interventions include extensive school renovations, recruitment and training of teachers, expansion of primary, secondary and tertiary healthcare facilities, as well as investments in youth skills, sports and entrepreneurship programmes.
For governance and service delivery, the administration sector received ₦157.7 billion to drive civil service reforms, staff training, deployment of digital tools, improved revenue collection systems, support for ministries, departments and agencies, and the full rollout of e-governance platforms.
The justice sector was allocated ₦19 billion to strengthen the courts, improve justice delivery and support legal reforms and access-to-justice programmes, while regional development and local government support will focus on grassroots empowerment, community road construction, rural electrification, water and sanitation projects, and security outposts in border communities.
Governor Okpebholo said the 2026’ Budget of Hope and Growth’ was anchored on his SHINE Agenda, built on five pillars—Security, Health, Infrastructure, Natural Resources/Agriculture and Education—with the overarching vision of creating a prosperous and united Edo State where every citizen feels the impact of governance.
Reflecting on the previous fiscal year, the governor noted that the 2025 budget recorded strong performance in both capital and recurrent expenditures, driven by improved Internally Generated Revenue following deliberate efforts to block leakages and strengthen collections, as well as notable achievements in security, roads, healthcare, agriculture, education and job creation.
On security, he said his administration inherited a grave situation marked by cult killings, kidnapping, robbery and cybercrime, with over 300 cult-related killings recorded in 2024 alone.
He highlighted measures taken, including the enactment of a stronger anti-cultism law, procurement of 80 Hilux vans and 400 motorcycles for security agencies, and the recruitment and absorption of 2,500 officers into the Edo State Security Corps, which he said have significantly reduced insecurity across the state.
In healthcare, Governor Okpebholo said his government was rebuilding a collapsed system from the ground up through the construction of new primary healthcare centres, provision of diagnostic equipment and the ongoing construction of a 150-bed specialist hospital in Edo Central Senatorial District.
He also outlined massive infrastructure interventions, including the award of 28 new road projects covering 255 kilometres, the construction of two flyovers in Benin City—at Ramat Park and Sapele Road by Adesuwa Junction—and the rehabilitation of critical roads linking communities across the state.
On agriculture, the governor said the sector’s budget was expanded from ₦6.9 billion to ₦57 billion, with over 400 hectares of farmland cultivated and harvesting already underway across several farm clusters, stressing that his administration was tackling food insecurity with action rather than rhetoric.
In the education sector, he said the government recruited 5,000 permanent teachers, upgraded 63 schools to modern standards, increased monthly subvention to Ambrose Alli University from ₦41 million to ₦500 million, and raised Edo State University, Iyamoh’s subvention from ₦25 million to ₦250 million monthly.
On economic growth and job creation, Governor Okpebholo disclosed that his administration created over 10,000 direct and indirect jobs, launched a ₦1 billion interest-free loan scheme for market women and traders, and is steadily reducing inherited foreign and domestic debts owed to contractors.
In governance and institutional reforms, the governor said public trust had been restored through a more participatory democratic process, including the swearing-in of three judges previously sidelined, re-establishment of the Customary Court system, and strengthened traditional institutions and inter-governmental relationships.
He expressed appreciation to President Bola Ahmed Tinubu for national reforms that have boosted revenue flows to states, commended the Speaker and members of the Edo State House of Assembly for their cooperation, and thanked traditional rulers, faith leaders, political appointees and civil servants for their support as he formally presented the 2026 Appropriation Bill for legislative consideration and approval.