LG Chairman presents ₦6.95bn 2026 budget

News Update

THE Chairman of Olorunda local government council elected under the All Progressives Congress, APC, administration of Adegboyega Oyetola, Mojeed Adekunle Kudayisi, has presented a proposed budget of ₦6.95 billion for the 2026 fiscal year.

The budget tagged, “Budget of Renewed Hope” was presented by Kudayisi to the Honourable House of Olorunda local government council on Monday.

Presenting the budget, during a council session, the Chairman said the document was prepared in line with the Osun State Local Government Financial Management Guidelines.

Kudayisi said the proposed budget was designed to address current economic realities while meeting the expectations of residents at the grassroots and advancing sustainable development across the local government.

He described the 2026 budget as people-centred and development-driven, “with focus areas including infrastructure improvement, healthcare and education delivery, youth empowerment, agriculture, social welfare, and fiscal discipline.”

According to the chairman, “the total budget size stands at ₦6,950,000,000, with projected revenue sources comprising ₦6.1 billion from federal allocation and VAT, ₦650 million from internally generated revenue, and ₦200 million from other sources and interventions.”

He said the revenue projections were conservative and achievable, adding that they were structured to avoid placing additional pressure on residents of the local government.

Kudayisi explained that the proposed expenditure framework allocated “40 per cent to capital projects, 35 per cent to community development, 20 per cent to overhead costs, and five per cent to a contingency fund.”

He said the structure was aimed at ensuring that the majority of available resources were channeled towards visible development projects with direct community impact.

The chairman listed key interventions under the proposed budget to include, “road and drainage rehabilitation, upgrading of primary healthcare centres, improvement of primary schools and ECCDE facilities, youth empowerment programmes, agricultural support initiatives, and monthly social welfare schemes.”

While assuring the council of his administration’s commitment to transparency and accountability, he said, “We shall ensure proper monitoring and evaluation of projects, value for money in all expenditures, and regular reporting to the Council House.”

He called for unity of purpose to deliver a financial plan that reflects the aspirations of the people of Olorunda local government.