EconomyNewsGovernor Soludo Presents 2023 Anambra Budget, the Biggest in the State’s History

AWKA — Anambra State Governor, Prof. Chukwuma Soludo has submitted the 2023 appropriation bill to the State Assembly for consideration and eventual passage in due time. The appropriation bill titled, “Budget of Acceleration”, has a total budget size of N258, 970, 175 and as such, by far the biggest budget size ever submitted to the House by any governor of the state.

High point of the governor’s remarks during the budget presentation includes the fact that the state is expecting internally generated revenue to hit N48 billion in 2023. The governor also noted that he would soon be sending an amendment request to the Anambra State Independent Electoral Commission – ANSIEC law 2007, to enable local government elections in the state. However, it is unclear whether a local government election has been provided for, in the submitted budget.

Governor Soludo also hinted that the 2023 budget had made provision for the completion of Anambra Airport. The governor further remarked that although the House had approved for the government to borrow N100 billion, so far, the state has not borrowed a dime. Nevertheless, the governor said the state has applied to borrow N90 billion, which they expect soon.

According to the governor, his government will soon hand over five thousand appointment letters to five thousand recruited teachers. He reiterated his administration’s determination to revive massive industrialization in the state. The governor also informed the House that so far, the state had awarded 206 km of road scattered across the state and that by December, the state would have awarded 250 km of road across the 21 LGAs of the state.

Governor Soludo’s “Budget of Acceleration” has a total of about N160 billion earmarked for capital projects and about N95.5 billion earmarked for recurrent expenditure, for year 2023. The budget equally has a deficit of about N13 billion.

Reassuring ndi Anambra of his dedication to duty, “Ours is an agenda with deadline and there are no excuses”, Governor Soludo affirmed.

The draft estimate upon presentation was taken through the first and second reading, amidst fireworks by the legislators. This would be the first time in the Assembly, that a budget is undergoing first and second reading on the same day, right before the governor, just after the budget has been presented.

In the coming weeks, it is expected that the House would have gone through the process of budget defense at the committee level and if so, the “Budget of Acceleration”, might be accelerated into law before December break, in about the next seven weeks.

Ebuka Onyekwelu (Staff Writer)
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