EKSG presents breakdown of 2026 budget, unveils major sectoral allocation.

EKSG presents breakdown of 2026 budget, unveils major sectoral allocation.

…as state’s GDP for 2026 is projected at N8.8trillion.

Ekiti State Government, on Wednesday, presented the analysis of the ₦415.572billion 2026 Budget of impactful Governance affirming a projection of 8.8trillion naira Gross Domestic Product (GDP) for the year. 

Presenting the highlights of the budget to a cross section of government officials, financial experts and media representatives at Jibowu Hall, Government House, Ado-Ekiti, the State’s Commissioner for Budget and Economic Planning, Mr Femi Ajayi, stressed that the budget is expected to strengthen the State’s economy through key strategic interventions in the agriculture, arts, education, infrastructure and tourism and the informal sectors. He added that it signalled the administration's commitment to prudent fiscal management and  implementation of economic reforms essential for unlocking the potentials and opportunities of the economy. 

While noting that the budget was prepared in consonance with the 2026-2028 MTEF and 30 years Development plan, Ajayi explained that MTEF enables the Government to efficiently allocate available resources rationally towards the completion of projects within a medium-term period as it contains the key parameters and other macroeconomic projections driving the medium-term revenue and expenditure framework which were estimated based on emergent realities with a ceiling of ₦570,048,520,552.00 for the projected year.

He added that the fiscal document contains the blueprints to achieve the administration’s vision of Shared Prosperity by adopting zero-Based Budgeting approach and focuses essentially on the completion of all on-going projects to improve the economy.

The Commissioner disclosed that the revenue to finance the 2026 budget would be sourced from the state revenue estimate for the year including, the federal allocation, 30%, Value Added Tax (VAT) 19%, Grants from Domestic and Foreign Development partners 29%, State Independent revenue, 11%, and loan from domestic or foreign borrowing 2%.

While adding that the recurrent expenditure of the budget would be distributed into personnel cost (28%); overhead cost, 28%; grants and subsidy, 18%; debt servicing, 0.2% among others, the commissioner also highlighted the capital expenditure allocation by sector to include economic, 72%; administrative, 13%; social. 14% and law and justice, 1%. Ajayi also revealed that the capital expenditure based on the six pillars of the administration include governance, 9%; agriculture and rural development, 22%; arts, culture and tourism, 1%; youth development and job creation, 2%; human capital development, 9% and infrastructure and industrial development, 57%.

Ajayi reaffirmed the commitment of the Biodun Abayomi  Oyebanji administration’s  commitment to fiscal accountability and transparency to achieve fiscal sustainability and macro-fiscal objectives of government.

He said government remains committed to sustainable growth and development, aimed at improving the well-being of the people by providing safety nets to cushion the impact of any reform measures on the vulnerable segments of the population. 

He added  that through the Six Pillars, the present administration will sustain the philosophy of shared prosperity as well as ensure that all sectors of the economy would be addressed within the ambit of the available resources.

Earlier in his remarks, the Chief of Staff to the Governor, Mr Niyi Adebayo, commended Governor Oyebanji for providing the necessary impetus that has assisted the state at ensuring unbridled development to the state through various people-friendly reforms and programmes.

Adebayo said the success of the past budgets under the administration was hinged on the government’s policy of inclusivity through responsible and responsive governance, promotion of fiscal transparency and accountability essential to the shared prosperity agenda of government.

Top government officials at the event were the Secretary to the State Government, Prof. Habibat Adubiaro, Head of Service, Dr Folakemi Olomojobi, Members of the State executive council, the body of permanent secretaries, traditional rulers, journalists, representatives of financial institutions among others.

A Call for Action: Hon. Ibrahim Condemns Erinmope Kidnappings.

A Call for Action: Hon. Ibrahim Condemns Erinmope Kidnappings.

Hon. Ibrahim Kunle Olanrewaju, the Senior Special Assistant to President Bola Ahmed Tinubu on National Assembly Matters and former representative of the constituency, has condemned the recent abduction of five women in Erinmope-Ekiti, describing it as a "deeply distressing assault on humanity."

In a formal statement released to the public, Hon. Olanrewaju expressed his heartfelt sympathies to the Okanlawon family. He emphasized that the abduction of a nursing mother and a woman in the final stages of pregnancy is an attack on the very fabric of the community. "No family should have to endure the trauma of seeing their home invaded and loved ones spirited away into the wilderness," he stated, acknowledging the profound pain felt by Muhammad Saliu Okanlawon and his entire household.

Drawing from his experience as a leader who has served at both the grassroots of this constituency and the highest levels of federal legislative engagement, Hon. Olanrewaju viewed the incident with the utmost gravity. While commending the swift initial response of the Nigeria Police Force, Civil Defence, and the Amotekun Corps, he stressed the urgent need to intensify intelligence-gathering efforts. He specifically highlighted suspicions that the assailants may be mingling within the community to evade capture, calling for a sophisticated, community-policing approach to smoke them out.

Hon. Olanrewaju reaffirmed that the administrations of President Bola Ahmed Tinubu and Governor Biodun Abayomi Oyebanji remain resolutely committed to the safety of every resident in Nigeria and Ekiti State respectively. He noted that the protection of lives and property remains the primary purpose of governance and will not be compromised.

Furthermore, he urged members of the community to remain vigilant and act as their brother’s keeper by coming forward with any information regarding the whereabouts of Kehinde, Adijat, Hawawu, and the two Fatimas. Offering a message of hope, he prayed for the strength of those in captivity and the divine protection of the expectant and nursing mothers. He vowed that the government would not remain silent while citizens are used as pawns for greed, standing in total solidarity with the people of Moba Local Government to ensure the victims are returned safely and that such "strange incidents" do not become a recurring nightmare in the state.

ALLEGED COLLECTION OF ARTWORKS: MR. ABEJIDE’S MISREPRESENTATION OF FACTS.

ALLEGED COLLECTION OF ARTWORKS: MR. ABEJIDE’S MISREPRESENTATION OF FACTS.

The attention of the Ekiti State Ministry of Arts, Culture and Creative Economy has been drawn to a recent publication by Sahara Reporters, containing allegations credited to Mr. Abejide, an Ekiti-based artist, concerning the alleged collection of his artworks by the former First Lady of Ekiti State, Her Excellency, Erelu Bisi Fayemi.

The Ministry considers it necessary to set the record straight by stating the verified facts of the matter.

The art exhibition in question was generously sponsored by Her Excellency, Erelu Bisi Fayemi, and was held at Adetiloye Hall, Ado-Ekiti, from 14th to 17th October, 2020. 

On 16th October, 2020, Erelu Fayemi visited the exhibition venue, where she awarded monetary gifts to ten (10) artists whose works were adjudged outstanding.

During the visit, Erelu Fayemi expressed interest in two artworks by Mr. Abejide and requested that he bring the works to her office after the conclusion of the exhibition for the purpose of purchase. 

No artwork was collected from Mr. Abejide at the venue, nor was any negotiation made with Mr Abejide for his works. The exhibition formally ended in the evening of 17th October, 2020. 

Contrary to expectations, Mr. Abejide neither delivered the artworks to the former First Lady’s office nor handed them over to any designated official or representative. Instead, he left the artworks unattended in the exhibition hall and vacated the venue without notifying anyone or making further contact.

At no point did Erelu Bisi Fayemi purchase or take possession of any artwork belonging to Mr. Abejide.

 While an intention to purchase was clearly expressed, the necessary follow-up actions—delivery of the artworks and negotiation of prices—were never undertaken by the artist. Indeed, Mr. Abejide did not negotiate or communicate the prices of the artworks to anyone.

When questioned regarding his recent claims however, Mr. Abejide reportedly stated that he merely assumed that staff of the former First Lady would return to the exhibition venue days later to collect the artworks.

 The Ministry finds this assumption unfounded and illogical, as no prior communication, authorization, or arrangement was made to that effect.

It is therefore misleading and unjustifiable for Mr. Abejide, six years after the event, to attribute blame to the former First Lady for circumstances arising from his own inaction. The allegations, as published, are a clear misrepresentation of facts. The Ministry considers them malicious and a calculated attempt to unfairly malign the person and office of Her Excellency, Erelu Bisi Fayemi, who is a great lover and supporter of Arts.

It is very troubling that Sahara Reporters could  publish these allegations without due verification, thereby giving currency to an unfounded narrative against the former First Lady.

While urging Sahara Reporters to uphold the principles of responsible journalism by not always being too quick to besmirch people's reputation and by going further to correct the record in line with the facts stated above, the Ministry urges members of the public to disregard the false narrative and rely on the verified facts as hereby presented.

Reduction in prices of food commodities in Ekiti, testament to Oyebanji's impactful interventions - Agric commissioner.

Reduction in prices of food commodities in Ekiti, testament to Oyebanji's impactful interventions - Agric commissioner.

Ekiti State Commissioner for Agriculture and Food Security, Ebenezer Boluwade, has attributed the reduction in prices of food commodities in the state to Governor Biodun Oyebanji's impactful interventions in the agric sector. 

Boluwade said that the state is making tangible progress towards food security and that the state government's interventions are beginning to stabilise markets and reduction of food prices. 

The commissioner stated this, on Tuesday, in Ado-Ekiti, during the interactive S'etigbo multicast, anchored by the Bureau of Community Communications. 

According to him, "A lot has happened and we have data to support some of the impacts. The market is also getting a positive response and we have been having the slowest prices in food items for the past three or four months. This shows that our productivity is also increasing, food items are available and very well secured." 

He revealed that the state government has cleared over 5,000 hectares of land to support local farmers including subsidy of essential agricultural products adding that these efforts are geared towards transforming the agricultural sector from a primarily subsistence model to an export-driven industry.

He explained that in recognition of the state’s progress, the Federal Government has designated Ekiti as an agro-processing zone, a move that promises to further boost the local economy. 

The commissioner emphasised that the partnership between the state government and higher institutions in the state is aimed at fostering research and innovation in agriculture, creating job opportunities for young people by clearing thousands of hectares of land for farming and facilitating a sustainable job market for youth in the state.

The Agric commissioner said that the state is actively encouraging young people to venture into agriculture, with specific investments in poultry farming adding that it has already resulted in the establishment of nine poultry centers across the state, with plans to expand to two more.

Why Cavista Holdings’ Investment in Matna Foods Matters for Nigeria’s Cassava Economy.

Why Cavista Holdings’ Investment in Matna Foods Matters for Nigeria’s Cassava Economy.

The recent acquisition of Matna Foods Company Limited by Agbeyewa Industries Limited, an agribusiness subsidiary of Cavista Holdings, represents a strategic intervention in Nigeria’s cassava value chain—one that goes beyond ownership change to address long-standing structural gaps in production, processing, and industrial utilization.

Cassava is one of Nigeria’s most abundant and strategic crops, yet the sector has historically suffered from weak integration between farming and processing, leading to inefficiencies, post-harvest losses, and limited value capture for farmers. 

Cavista Holdings’ investment in Matna Foods is designed to help close this gap by linking large-scale cassava cultivation with established industrial processing capacity, creating a more resilient and efficient value chain.

Through Agbeyewa, which operates Nigeria’s largest cassava farm, Cavista Holdings has built a strong production base and an innovative in-grower/out-grower scheme that brings thousands of farmers into a reliable, well-organised supply network.

Matna Foods brings over two decades of processing experience and technical expertise in producing international-standard cassava starch for food and industrial use. Together, they form an integrated platform capable of stabilising supply, expanding processing capacity and reducing reliance on imports.

Chairman of Cavista Holdings, Mr. Niyi John Olajide, said the investment reflects its long-term approach to value creation:

“Cavista Holdings has a strong history of identifying under-utilised or distressed assets and repositioning them for sustainable growth. The iconic Ikogosi Warm Springs Resort, (which was transformed from an abandoned resort into the best holiday resort in Nigeria) is proof of our ability.  Our investment in Matna Foods follows this same discipline strengthening capacity, improving efficiency, and creating jobs, jobs, jobs. 

This is how we build businesses that deliver real economic impact while supporting food security and industrial development.”

Beyond processing, the acquisition is expected to have a direct impact on farmers by increasing cassava offtake, providing more predictable demand, and strengthening rural livelihoods, especially for smallholder and out-grower farmers across the Southwest.

Importantly, Matna Foods remains fully operational and open for business, with plans underway to scale capacity, modernise operations where required, and deepen engagement with farmers, suppliers, and industrial customers.

For Cavista Holdings, the transaction reinforces a consistent investment thesis: that well-structured capital, strong execution, and long-term vision can unlock value in critical sectors—and that business, when done right, remains a force for good.

About Cavista Holdings

Guided by the belief that business is a force for good, Cavista Holdings is a global investment and holding company committed to creating value and transforming lives through strategic investments.

Operating across four continents, our portfolio of companies delivers innovative products and services in key sectors including Agriculture, Financial Services, Healthcare, Hospitality and Technology.

For more information, please visit www.cavistaholdings.com or contact Uchenna Ibemere at uibemere@cavistaholdings.com

Agbeyewa Farms Hosts MATNA Foods Leadership on Strategic Farm Tour.

Agbeyewa Farms Hosts MATNA Foods Leadership on Strategic Farm Tour.

Agbeyewa Farms hosted the leadership and technical team of MATNA Foods on a familiarisation tour following Agbeyewa’s recent acquisition of the cassava processing company, as part of post-acquisition integration efforts.

Welcomed by VP Operations Anthonia Attoh and management, MD Mr. Oska Seyi Aiyeleso described the acquisition as a strategic step toward building a fully integrated cassava value chain, assuring consistent feedstock for MATNA and enabling expanded processing capacity.

GM Agronomy Mr. Babatunde Akinsinde noted Agbeyewa’s over 7,000 hectares across Ipao, Gede and Iyemero, with plans to scale to 10,000 hectares and beyond. The team toured farm sites and the mechanisation workshop, where Head of Engineering Mr. Christopher Suberu showcased Agbeyewa’s operational equipment.

MATNA Team Lead Mr. Tosin Ojuko commended the engagement, affirming confidence in Agbeyewa’s capacity to guarantee uninterrupted cassava supply.

The visit ended with strategic discussions on operational alignment, marking another milestone in strengthening Nigeria’s cassava value chain.

#AgbeyewaFarms #MATNAFoods #CassavaValueChain #Agribusiness #FoodSecurity NigeriaAgriculture

Oyebanji receives DG Law School, urges stakeholders involvement in infrastructure development.

Oyebanji receives DG Law School, urges stakeholders involvement in infrastructure development.

Ekiti State Governor, Mr Biodun Oyebanji has assured the management of the Nigerian Law School of his administration’s commitment to effective collaboration in its effort to strengthen infrastructure development in its campuses.

Governor Oyebanji, who stated this on Monday while receiving the management of the Nigerian Law School, led by its Director General, Dr Olugbemisola Titilayo Odusote, stressed the need for strategic collaboration between the institution and various stakeholders including State Governments, private sector players and alumni associations of the institution to drive development.

The Governor expressed the state’s appreciation to President Bola Ahmed Tinubu on the appointment an illustrious Ekiti daughter to such an exalted position, urged Dr Odusote to leverage on the various stakeholders in the drive to reposition the institution for improved service delivery and better infrastructure across its campuses nationwide.

He commended the Director General for exhibiting the Ekiti virtues of competence, integrity and character, urging her to bring all that to bear in her service to the institution and drive development that will leave a lasting legacy. 

Governor Oyebanji assured the management of the institution of the state government’s continued support for the new management.

“I have no doubt in my mind that it is the Ekiti virtues of competence, integrity, character and diligence that has taken you this far. I have listened to you and one thing i can assure you is that we are in this together. We are ready to collaborate with you and we’ll do everything humanly possible to ensure that you succeed and live a lasting legacy. 

“The Law School is so critical to national development because the quality of lawyers you turn out have a direct impact on the tone of law and order in the country and the administration of justice itself.

“And I'm talking to my colleagues, to the other governors, to see if we can collaboratively do something about the law school and we will do that. I also want to suggest that in addition to what we can do, the Law School should also leverage on collaboration with the private sector. You know, you have a lot of product all over the country and they are doing well. 

“I think there should be a structure to collaborate with the private sector to see if they can, as a form of Corporate Social Responsibility, take on some of these projects, and they can brand it in their own colour. You also have to look into your alumni association. It's a great resource, because I have a lot of friends that are lawyers and that are going great, and they went through this school and if you don’t ask them for help, they will not come to you. So there must be a structure to pull your best resources together and ensure that they give back to the law school. He stated.

Earlier, the Director-General, Dr Odusote thanked Governor Oyebanji for his encouragement and support and for the exciting manner the state celebrated her her appointment as DG of the Nigerian Law School. She and assured that she will do all within her best not to disappoint her well-wishers.

Dr Odusote, who described her visit to the Governor as “ Home Coming”,  called for increased collaboration with stakeholders to promote institutional growth, improve staff and student welfare, and advance human capital development within the Nigerian Law School.

She hinted on her desire to hold a retreat for staff of the institution as part of efforts to reflect and improve on teaching quality.

Present at the meeting were the Speaker, Ekiti state House of Assembly, Rt. Hon. Adeoye Aribasoye, Chief of Staff, Mr Niyi Adebayo, Attorney General and Commissioners for Justice, Mr Dayo Apata, SAN; Information, Rt. Hon. Taiwo Olatunbosun, Special Adviser on Media, Mr Yinka Oyebode; Special Adviser, Legal Matters, Mr Niyi Idowu and Director General, Community Communication, Mrs Mary Oso-Omotoso.