Thursday, 29 February, 2024

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2024 budget will explore Anambra’s N5trn economy — Soludo


Anambra Governor, Chukwuma Soludo says the proposed 2024 budget estimate if passed into law would explore the State’s five trillion naira economy to the fullest.

Soludo disclosed this through the State Commissioner for Economic Planning and Budget, Mrs Chiamaka Nnake while fielding questions from journalists during a budget breakdown session at the Government House, Awka, revealed that it can change the fortunes of the state if taken advantage of.

Recall that Governor Chukwuma Soludo last Tuesday presented a budget estimate of over N410b to Anambra State House of Assembly.

According to Mrs Nnake, the proposed budget size is N410,132,225,272, compared to the 2023 approved budget of N258,984,875,905.

The recurrent expenditure amounts to N96,201,936,746 compared to N95,476,462,873 of the 2023 budget, while the capital expenditure amounts to N313,930,288,526 compared to N163, 508,413,032 in the 2023 budget with a deficit of N120,840,513,618.

While explaining the government’s strategy to balance the budget and reduce the deficit, the Commissioner pointed out that a concessionary loan that will place emphasis on project financing will be acquired citing the agreement entered by the Anambra State Government with Afrexim Bank to the tune of $200 million.

She noted that the budget has various sources of income, stressing that the current administration is only interested in loan facility options that have the ability to repay itself.

According to her, the Ministry of Works and Infrastructure will get N141 billion to complete ongoing and new road projects, including single and dual roads, as well as N2.5 billion for urban regeneration for Anambra iconic designs, road mapping, among others.

Four billion naira according to her will go into the Airport, Industrial Cities, New Cities, Branded Hotel, SID, among others, while the Ministry of Housing is proposed to get N10,525,000,000 for the completion of Anambra State Government House, Lodge and commissioners quarters, construction of old People’s home and other buildings.

To revamp of Education System, the Ministry of Education is projected to get N20, o34, 078,600 while the Ministry of Culture, Entertainment and Tourism will get N10 billion for the development of leisure/entertainment centres across the State.

The Ministry of Health will get N16,722,033,554 to revamp the healthcare system, Ministry of Power and Water Resources is projected to get N8,195,000,000 for revamping of urban water schemes.

Also, the Ministry of Youth Development and Solution Innovation District voted to get N4,134,358,500 for Youth Innovation and Empowerment Programmes and well as Solution Innovation District.

In order to pursue the agenda of everything technology and technology everywhere, the ICT Agency will gulp N2,762,500,000, while the Ministry of Transport will get N5,378,790,000 to improve the transport infrastructure, revamping water transport with boats and buses for mass transit.

Ministries of Information, Women Affairs, Agriculture, Economic Planning and Budget as well as the Sports Development Commission are all captured in the budget as well.

The Media conference was also attended by the Commissioner for Information, Sir Paul Nwosu and Press Secretary to Governor Chukwuma Soludo, Mr. Christian Aburime.

Credit: Nigerian Tribune

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