Governor Charles Soludo of Anambra has presented a N140 billion proposed budget for the 2023 appropriation before the State House of Assembly, on Tuesday, in Awka.
Tagged: ‘Changing Gears: The Transformation Agenda Begins’, the budget Soludo said the budget was aimed at beginning the transformation agenda and implementing a new masterplan to build a liveable and prosperous
The budget was made up of N313.9 billion in capital expenditure, which accounts for 77 percent of the budget compared to 63.2 percent in the previous budget.
Also, N96.2 billion was allocated for recurrent expenditure, translating to 23.46 percent against 36.8 percent in the previous budget.
The Governor said that the budget had a deficit of N120 billion expected to be funded through a facility from financial institutions.
Soludo said: “We recorded an estimated 66 percent budget performance in 2023 and today Anambra is ranked number one among the 17 southern states on ease of doing business and number two with lowest impact mortality rate.
“Internally Generated Revenue remains a fundamental challenge. In the 2023 budget, we expected a monthly revenue of about N4 billion, so far, we are averaging N2 billion.
“We are projecting N4.2 billion as monthly IGR in the 2024 budget and this is a wake-up call to all residents that we cannot build a liveable and prosperous homeland if we do not pay tax.
“With the 2024 proposed budget, we hope to consolidate ongoing projects. Our teachers, students, poor and vulnerable will smile because we are determined to maximize value for the people of Anambra,” he said.
Receiving the budget, the Speaker of the House, Rt Hon Somtochukwu Udeze, thanked the Governor for the massive transformative projects going on in the State.
The Speaker assured the governor that the draft budget would receive expeditious consideration.
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