Anambra State governor, Professor Chukwuma Soludo, Thursday, presented a budget estimate of N258,970,175,905 for the 2023 fiscal year.
The estimate, which is above the revised 2022 budget of N170 billion Soludo got approved from the House shortly after taking over the mantle of leadership.
His predecessor Willie Obiano had presented a capital budget of N164.2 billion.
Soludo, while presenting the estimate entitled budget for acceleration, before the State House of Assembly in Awka, argued that part of it would be funded from N100 billion borrowing he previously applied for and had been granted by the House.
He said, “Mr. Speaker, this House approved for us to borrow N100 billion to part-finance the revised 2022 budget. So far we have not borrowed a kobo. We have however applied for N90 billion out of the approved N100 billion, and when it comes (we expect so in a few weeks’ time), we plan to roll it over as part of the 2023 financing.
“As a reflection of our people’s priority needs, about N91.8 billion or 56% of the total capital expenditure is devoted to roads, transport, power and urban regeneration that the average citizen can feel, see, or use and which have the highest developmental impact within the shortest possible time. Education, health, youths, and women/vulnerable groups have their capital votes more than doubled.
“The size may be small relative to our needs and size of Anambra’s economy but we are determined to ensure full value for money for our people. We are constrained by the need to take measured steps to create value while ensuring fiscal sustainability. It is possible that the key macro economic assumptions underpinning the budget might change after the 2023 elections.
“If the changes are significant, we may have to come back with a revised budget.Under any scenario, our 2023 budget sign-posts our strategic direction and key deliverables as we march towards a livable and prosperous homeland. Yes, the road ahead is bumpy but Anambra is winning.”
The Speaker, Anambra State House of Assembly, Rt. Hon. Uche Okafor, who presided over the sitting, thanked the governor, referred it to a committee on Appropriation, assuring that the budget would be given accelerated debate and passage.
