Ekiti IGR Now Covers Monthly Salaries as State Targets Full Recurrent Expenditure

Ekiti State’s internally generated revenue (IGR) now covers the government’s monthly salary bill, according to Mr Oyebode, who said the state is targeting further growth to finance its entire recurrent expenditure from internally generated funds.

Oyebode said achieving that target would allow revenue received from the Federation Account Allocation Committee (FAAC) to be directed mainly towards capital projects and other development programmes across the state.

“Ekiti’s internal revenue now covers our monthly salaries, but we must move to the next frontier where the IGR covers all the recurrent expenditure,” he said.

He added that the shift would free FAAC revenue for investments expected to have direct impacts on residents. Oyebode also linked the state’s progress over the past four years to Governor Biodun Oyebanji’s shared prosperity agenda and reforms introduced by President Bola Tinubu.

The comments were made during a public hearing organised to examine Ekiti State’s 30-year journey, including its achievements, challenges and prospects for future development.

Former governor Segun Oni congratulated the Ekiti State House of Assembly and residents on the anniversary, saying the state had recorded considerable stability and growth since its creation. He also urged residents to support the Oyebanji administration and promote the state’s development aspirations.
The Speaker of the House of Assembly, Adeoye Aribasoye, said the public hearing was designed to identify challenges confronting Ekiti and generate practical measures for its future. He said recommendations from the exercise would contribute to the legislative agenda of the Seventh Assembly and guide future legislatures.

Delivering the keynote address, lawyer and philanthropist Tope Adebayo said Ekiti’s development should be measured not only by the number of successful people produced by the state but also by the opportunities available to more citizens. Former Finance Commissioner Afolabi Ogunlayi also recalled the agitation that preceded Ekiti’s creation in 1996, attributing it to what he described as the marginalisation of Ekiti people in the old Ondo State.