Obiano presents N143. 65bn Budget estimate for 2021 fiscal year to Anambra Assembly

0

… Allocates N200m to victims of defunct SARS

… Promises no increase in tax or levy in 2021

The Governor of Anambra State, Chief Willie Obiano has presented a budget estimate of N143.65bn to the Anambra State House of Assembly for the 2021 fiscal year.

The 2021 budget estimate projected a recurrent expenditure of 39.5% (N56.77bn) and a capital expenditure of 60.5% (86.88bn).

Governor Obiano made the presentation, Tuesday at the House of Assembly Chambers, Anambra State House of Assembly Complex, Awka.

Presenting the budget estimate themed: “Economic Recovery and Consolidation”, Governor Obiano declared that the budget will help to sustain and maintain the achievements of his administration.

According to him, “This budget is based on realistic projections of all sources of revenue both external and internal, taking into consideration the state’s revenue and expenditure trend.

“It will drive the budget theme and help to sustain our past achievements. It will also ensure that we maintain our status as a hub for business and a destination for new investments”.

Going further, he listed the basis and assumptions for the budget estimate to include a projected sum of N46.7bn from federal allocations and N36.6bn from projected internally generated revenue. The Governor however stated clearly that taxes and levies will not be increased by his administration in the coming year.

Other indices for the basis and assumptions for the budget estimate include capital receipts projected at N20.9bn, personnel costs estimated at 17.6bn for the year, total overheads estimated at 22.9bn for the year (2021) and social benefits, including pensions, gratuities, group life insurance and loan repayments estimated at N16.2bn. Debt financing was also listed with an estimate of N11.0bn.

The budget estimate earmarked a total of N32bn for infrastructural development and construction of roads and bridges. N19.44bn out of this sum is proposed to be spent on constructing new roads and rehabilitating existing ones.

The Anambra Road Maintenance Agency (ARMA), attracted N1.2bn for effective road rehabilitation and maintenance in the state.

In the same vein, about 50 ongoing road projects in the three senatorial zones of the state as well as access roads to agricultural communities and settlements will be completed and constructed.

This section of the budget proposal equally captured the completion of some legacy projects of the Obiano administration and the development of sports facilities in the state.

Under it, the proposed International cargo airport, Umueri attracted N5.8bn to aid its completion while the International conference centre, Awka attracted N500m.

To aid sports development, the sum of N500m was earmarked for the development of sports stadia in Awka, Ekwulobia and Otuocha.

Further breakdown of the budget estimate indicated allocation of funds to key ministries as follows: Agriculture and related sectors – N2.5bn, Education – N5.0bn, Health – N6.8bn, Water Resources and Public Utilities – N3.77bn as well as Youth Empowerment and Creative Economy – N5.4bn.

Of special note is the provision of N200m for the compensation of ndi Anambra who have proven cases of gross human rights violation, torture and death from activities of the defunct Special Anti-Robbery Squad (SARS) in Anambra state.

The budget proposal also allocated funds for small and medium enterprises development, community social development and disability inclusive programmes.

Credit: Ikenna Aniagboso

Photo: Governor Willie Obiano of Anambra State during the presentation of the budget estimate for the 2021 fiscal year to the Anambra State House of Assembly.

Send your news, press releases/articles to augustinenwadinamuo@yahoo.com. Also, follow us on Twitter @ptreporters and on Facebook on facebook.com/primetimereporters or call the editor on 07030661526, 08053908817.

 

Share.

Leave A Reply