Capital projects take 68% as Okpebholo presents ₦940bn budget

Edo State Governor, Monday Okpebholo, has presented a ₦939.85 billion budget proposal for the 2026 financial year.

The proposed 2026 budget is ₦335 billion higher than the ₦606 billion budget for 2025.

Governor Okpebholo said the budget, tagged “Budget of Hope and Growth,” is designed to build on achievements from his first year in office, expand development across the state, and restore public confidence in governance.

According to the governor, the 2026 budget focuses on key areas such as security, infrastructure, agriculture, education, job creation, and healthcare to meet the needs of Edo people.

He explained that ₦637 billion (68 percent) is allocated for capital projects, while ₦302 billion (32 percent) is for recurrent expenditure.

The governor said the budget will be funded through ₦160 billionh from Internally Generated Revenue (IGR), ₦480 billion from federal allocations (FAAC), ₦153 billion from capital receipts and grants, and ₦146 billion from Public-Private Partnerships (PPP).

On sectoral allocation, the economic sector received ₦614.2 billion, the social sector ₦148.9 billion, the administrative sector ₦157.7 billion, and the justice sector ₦19 billion.

Governor Okpebholo said the state will continue to focus on major capital projects such as roads, schools, hospitals, water supply, housing, and other economic projects.

“Our people want development they can see and feel. We will also avoid placing unnecessary financial pressure on citizens and will instead improve systems and block revenue leakages,” he said.

He added that the goal of un 2026 budget is to create prosperity, unity, and renewed hope across Edo State.

Speaker of the Edo State House of Assembly, Blessing Agbebaku, assured the governor that the lawmakers would give the budget prompt consideration and speedy passage.