David-Chyddy Eleke in Awka
Anambra State government has said funding for the N170 billion 2022 revised budget for the state would not be a challenge for the state governor, Prof Chukwuma Soludo.
The State Commissioner for Budget and Economic Planning, Ms. Chiamaka Nnake, stated this during a press conference on budget breakdown at the government house, Awka.
Soludo had last week presented a revised budget for 2022 to the Anambra State House of Assembly, with a size of N170 billion as against the existing appropriation of N142 billion, which was presented last year by former governor, Chief Willie Obiano.
The Budget and Economic Planning Commissioner who addressed journalists, said the budget would be financed through Internally Generated Revenue (IGR), loans and federal allocations.
Nnake said: “The budget will be funded 24 per cent by Anambra’s IGR, 36 per cent federal allocation and 40 per cent from loan.
“The revised budget size is about N170 billion versus the existing appropriation of N142 billion (with the capital expenditure accounting for 64 per cent compared to 57 per cent previously).
“Capital expenditure increased by 33 per cent, from N81 billion to N108 billion while recurrent expenditure increased marginally by 0.79 per cent from N60.9 billion to N61.4 billion.
“Budget allocation across our priorities include: works, transport, water and power, agriculture and healthcare, youths, security, ICT, security, Law and order.”
In the breakdown, Nnake said about N54 billion or about 50 per cent of the Capital budget is for the Ministry of Works and Infrastructure and the government intends to simultaneously invest in roads in most of the local governments, paying special attention to urban regeneration agenda.
The commissioner also gave details of how the budget would be spent on other priority areas.
