Governor of Osun state, Ademola Adeleke has signed the N723 billion 2026 budget into law, marking the final appropriation bill of his first term in office.
The signing ceremony took place on Monday in Osogbo, with the governor’s deputy, Kola Adewusi, and members of the state executive council in attendance.
The development was disclosed in a statement issued by the governor’s spokesperson, Malam Olawale Rasheed.
What they are saying
Governor Adeleke said the 2026 budget was signed into law to consolidate and expand governance and service delivery, in line with his administration’s five-point development agenda.
According to him, the budget will be deployed to complete ongoing projects and launch new initiatives across the state.
“Our administration has, in the last three budget years, laid a solid foundation for the sustainable development of our dear state,” he said.
“We completed many abandoned projects and launched new ones. We paid billions of naira in pension and salary debts. We targeted workers’ welfare, approved and implemented payments of promotions arrears, and paid many allowances which the previous government neglected”, he said.
Adeleke reeled out other achievements of his administration, adding that the outcomes and outputs of the budget in the last three years had been very positive.
In July, Osun State Government announced a significant reduction in the state’s debt profile, stating that Governor Adeleke has cut the debt burden by 43 percent between 2022 and 2025.
What this means
The signing of the N723 billion budget signals the Osun State government’s intention to consolidate past infrastructure and welfare gains while preparing the ground for new projects ahead of the end of Adeleke’s first term.
Originally proposed at N705 billion on November 12, the budget was later revised upward to N723 billion and passed by the Osun State House of Assembly on December 23, reflecting adjustments made during the legislative review process.
What you should know
According to the latest DMO data for Q1 2025, Osun State’s debt profile is N83.3 billion.
The data showed that the total debts owed by the 36 states and FCT stood at N3,87 trillion.
Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year increase of N27.72 trillion or 22.8% when compared to the N121.67 trillion recorded in the corresponding period of 2024.
In May, Governor Adeleke announced the approval of a N4 billion bond for the payment of retirees under the contributory pension scheme in the state.
