Obiano presents N115.5 billion budget proposal for 2017
The Anambra State Governor has presented a budget of N115.5 billion for 2017 fiscal year to the state House of Assembly for consideration.
Presenting the budget tagged: ‘Budget for Economic Recovery and Inclusive Growth’, on Wednesday at the floor of the House in Awka, Governor Willie Obiano explained that out of the amount, the state will spend N56.6 billion on Recurrent Expenditure while N59.9 billion is on Capital Expenditure which would reflect significant infrastructural development next year with a view to stimulating economic recovery.
He said that the 2017 Budget package is 11 per cent higher than the budget of 2016, declaring that it is a bold attempt to lift the state out of the corrosive effects of recession in the country.
According to him, the budget lays emphasis on prioritising a creative means of ensuring impact and effectiveness in a recessional economy and would guide the activities of government in these trying times into a new phase of economic prosperity.
He emphasized that the 2017 budget is projected on crude oil price bench of $42 per barrel, while it anchored on the policy thrust of his administration.
Giving the breakdown, Governor Obiano said, works and infrastructure would gulp N24 billion to be focused on completion of on-going contracts awarded by the immediate and current administration in line with the continuity policy promised to Anambra people, Reform of government and governance N5.5 billion and Agriculture would take N5.4 billion.
He added that Education ,water resources/rural development were allocated N3.4 billion and N3.2 billion respectively etc.
The Speaker, Barrister Rita Maduagwu assured that the 2017 appropriation bill would be given accelerated passage and called on commissioners , departments, agencies and parastatals to be ready for their budget defence as the House Committee on Finance and Appropriation as well as other committees would commence the budget defence soon.