Soludo presents N170 billion revised draft budget to state assembly
The governor of Anambra State, yesterday, presented a revised draft budget of N170 billion for 2022 to the state House of Assembly for approval.
Soludo said the purpose of the revised budget was to reflect current realities, challenges, and priorities of the new administration and the dire needs of residents in Anambra.
He stressed that the budget was made up of N108 billion capital expenditure, which is 64 per cent compared to 57 per cent previously, while N61.3 billion is for recurrent expenditure, translating to 36 per cent compared to 43 per cent in the previous budget.
Giving the breakdown, he said that personnel cost would gulp N19 billion, while N23 billion would be spent on overheads. Ministry of Works has the highest allocation of N54 billion compared to N23 billion budgeted in the previous budget, followed by healthcare, which was reduced from N4.4 billion to N2.9 billion.
He added that ministries of Agriculture and Education were allocated N1.5 billion and N1.1 billion respectively. Youth Development and Transportation got N2.4 billion and N1.6 billion respectively, Ministry of Power and Water Resources got N2.3 billion while Ministry of Culture, Entertainment and Tourism got N2.7 billion.
He said: “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.”
The governor assured that his administration would continue with the ‘Community Choose Your Project’ initiative of his predecessor, which was increased from N20 million to N25 million per community.
The Speaker of the House, Mr. Uche Okafor, who received the budget, assured that the draft budget would be given immediate consideration, promising that the legislature would partner with the governor by enacting laws that would ensure his administration succeeds.