Anambra State Governor, Professor Charles Chukwuma Soludo has presented a revised 2022 Budget of N170 billion to the State House of Assembly.
The Assembly had on Dec.9, 2021, passed the 2022 Appropriation Bill of N141.9 billion, presented by the immediate past governor, Dr Willie Obiano, for approval
The difference between the former budget (N141.9 billion) and the revised budget (N170 billion) is N27.7 billion.
According to Governor Soludo, the revised 2022 budget tagged: “Taking Off from the Blocks” is to reflect current realities, challenges, and priorities of the new administration and Ndi Anambra.
He said his government is undaunted by the state of the treasury and have seriously started reforming the system of tax administration to significantly ramp up the internally generated revenue over the coming years.
“ In the meantime, the dire needs of Ndi Anambra and our transformation agenda cannot wait. We are working on a mixture of financing options (including debt that is ring-fenced to fund bankable projects and/or infrastructure with impacts on the economy) to guarantee efficient and effective service delivery to our people while ensuring fiscal sustainability over the medium to longer terms. The details of these will be laid out in our 2023 budget.”
“The revised budget size is about N170 billion versus the existing appropriation of N142 billion (with the capital expenditure accounting for 64% compared to 57% previously).
“Capital expenditure increased by 33% from N81 billion to N108 billion while Recurrent expenditure increased marginally by 0.79% from N60 billion.
“We left the budget on security unchanged while we count on off budget resources from donations to augment. As a reflection of our Agenda, about 60% of the Capital Expenditure is targeted at delivering infrastructure that the average citizen can feel, see, use or touch and which have the highest developmental impact within the shortest possible time.
“ This Revised Budget 2022 sign-posts some of the key deliverables for this year as we Kick-off from the Blocks. It is also a call to collective action and lifestyle of Value for Money. The foundation of Anambra as a Smart Mega City will be tasking all of us to the limit. ”
The breakdown indicated that the Ministry of Works had the highest allocation, from N23 billion in the previous budget to N54 billion, followed by healthcare which was reduced from N4.4 billion to N2.9 billion.
Ministries of Agriculture and Education were allocated N1.5 billion and N1.1 billion respectively, while Youth Development and Transportation got N2.4 billion and N1.6 billion, respectively.
Ministry of Power and Water Resources got N2.3 billion while the Ministry of Culture, Entertainment and Tourism got N2.7 billion.
Soludo said his administration would continue with the ‘Community Choose Your Project’ initiative of his predecessor, which was increased to N25 million from N20 million per community.
“The 2022 Revised budget seeks to achieve four pillars of economic transformation, social agenda, governance, rule of law and value as well as greener and healthier environment.
“We inherited challenges of which red treasury and insecurity were the most acute. But I am emboldened by the massive support and solidarity of the people. We are Anambra people, and together, we shall overcome.
“Give us the budget urgently, and by the time our people come home for Christmas, we will all be proud that we are serving the people well,” he said.
Soludo informed the House that security agencies were working round the clock to secure the release of the kidnapped lawmaker, Dr Okechukwu Okoye, representing Aguata Constituency Il.
Receiving the budget, the Speaker of the House, Mr Uche Okafor, said the legislature would partner with the Governor by enacting laws that would ensure his administration succeed in all fronts and improve the living standard of the people.
He also assured the governor that the draft budget would receive expeditious consideration.
