On July 17th, 2024, Miva Open University hosted a masterclass titled “Budgeting for Development: The Ekiti State Case Study.” with the distinguished Honorable Akin Oyebode, the current Commissioner for Finance and Economic Development of Ekiti State in Nigeria.
This blog post explores the key takeaways from the masterclass, focusing on Hon. Oyebode’s insights into how Ekiti State structures its budget to achieve development goals.
Ekiti State stands out for its long-term development plan, spanning 30 years from 2022 to 2051. This plan provides a framework for guiding budget decisions across multiple administrations.
Ekiti State prioritizes human capital development, with a focus on healthcare and education. Investments are made in areas like primary healthcare infrastructure, staffing, and ensuring access to essential services like vaccinations and maternal care.
Hon. Oyebode highlighted the importance of broadband penetration for development. Broadband access can improve access to education, healthcare (through telemedicine), and economic opportunities.
The budgeting process in Ekiti State involves consultations with local communities. These consultations allow residents to voice their priorities, which are then considered when allocating resources.
Budget decisions are guided by data analysis. For instance, the high prevalence of breast cancer in Ekiti State informed the investment in mammogram machines for early detection.
Hon. Oyebode emphasized the importance of recurrent expenditure. Budget allocations are made not just for building infrastructure but also for ensuring its upkeep and staffing with qualified personnel.
The discussion moved beyond the traditional debate of capital versus recurrent spending. Hon. Oyebode argued that the focus should be on the substance of what the state is trying to achieve, with both capital and recurrent expenditures playing a role.
Ekiti State faces challenges, including limited internal revenue generation and the need for improved infrastructure, particularly roads. However, Hon. Oyebode expressed optimism about the state’s future, particularly due to the long-term development plan and a focus on efficient resource allocation.
The masterclass with Hon. Oyebode provided valuable insights into how Ekiti State budgets for development. The state’s long-term vision, focus on human capital, community engagement, and data-driven decision-making offer useful lessons for other regions aiming to achieve sustainable development.
