*A state budget in Nigeria is a statement of intent, not a record of spending. The number signed in December is routinely revised mid-year and rarely implemented above 70% on the capital side. Read the figures below as the size of the claim, and the IGR line as the size of what the state can raise without Abuja.*
The numbers#
- 2025 approved budget: ₦698,659,000,000 (signed 30 December 2024, revised up from ₦655.23 billion as presented)
- 2026 approved budget: ₦524,400,000,000 (signed 29 December 2025)
- Debt stock (31 December 2025, provisional): ₦8,415,296,774.51 domestic
Note#
Ondo carries one of the smallest domestic debt stocks in the federation, which is a fact about borrowing appetite rather than about revenue. IGR, external debt and the monthly Federation Account receipt are omitted: no primary NBS, DMO or Accountant-General line for the state was confirmed in this pass.
References
Sources#
- Ondo State Government, 2025 and 2026 Appropriation Laws (signing releases, 30 December 2024 and 29 December 2025)
- Debt Management Office, States and FCT Domestic Debt Stock as at 31 December 2025 (provisional)