Anambra State Governor, Professor Chukwuma Charles Soludo has presented a budget proposal of Four Hundred and Ten Billion, One Hundred and Thirty Two Million, Two Hundred and Twenty Five Thousand, Two Hundred and Seventy Two Naira (N410,132, 225, 272) for the 2024 fiscal year to the State House of Assembly.
The budget which is 57.8 percent higher than the 2023 budget is focused on infrastructure development, education, and healthcare.
Key highlights of the budget include; a N96.2 billion allocation for recurrent expenditure, accounting for 23.46 percent of the total budget, N313.9 billion allocation for capital expenditure, accounting for 76.54 percent of the total budget.
There are significant increases in allocations for key sectors, such as Administration (50.85%), Economy (103.43%), Judiciary (72.9%), Social Sector (60.24%), Education (140.88%), and Health (169.55%).
Making the presentation, Governor Soludo also announced the following new initiatives; the development of three new cities: Awka 2.0, Onitsha 2.0, and a new Industrial City, the finalization of an industrial master plan and the completion of a railway master plan and feasibility study, the signing of a US$200 million project development, advisory, and financing agreement with Afreximbank, the continued implementation of the Ease of Doing Business initiative, the completion of the Fun City and the construction of a branded international hotel in Awka.
Other initiatives announced by the Governor include; the aggressive pursuit of urban regeneration, the acceleration of the Clean, Green, Planned, and Sustainable Anambra agenda, the targeting of the dualization of key highways and the modernization of mass transport systems, the creation of a new electricity market, the upgrading of security operations with high technology applications, significant investments in urban and semi-urban water schemes, the provision of 10 or more seedlings of coconut, palm, ukwa, pawpaw, soursop, and others per household to 100,000 households, among others.
The Governor emphasized the need for increased Internally Generated Revenue, IGR and called on all residents of Anambra to be patriotic by paying their taxes and thanked members of the Solution Team, the legislature, the judiciary, and all stakeholders for their sacrifice in the service of the state.
Earlier in his address, Speaker of the Anambra State House of Assembly, Rt. Hon. Somtochukwu Udeze, applauded Governor Soludo’s intensified efforts in infrastructure, education, health, and youth empowerment.
The Speaker said that such efforts reveals that Anambra belongs to all, irrespective of political affiliation, called on Ndi Anambra to join the Governor in taking the state to greater heights.
He assured the Governor of speedy approval of the budget once it passes first reading.
Secretary to the State Government, Prof. Solo Chukwulobelu, Chief of Staff to the Governor, Mr. Ernest Ezeajughi, Head of Service, Barr. Theodora Igwegbe, Commissioner for Budget and Economic Planning, Mrs. Chiamaka Nnake, and Principal Officers of the State Assembly, Members of Anambra Executive Council, APGA State Chairman, Barr. Ifeatu Obiokoye, Members of the Civil Society Organization, Traditional Rulers among others, attended the event.
Photo 1: Rt. Hon. Somtochukwu Udeze, Speaker, Abamba State House of Assembly.
Photo 2: Prof. Chukwuma Charles Soludo, Executive Governor of Anambra State, presenting the 2024 Appropriation Bill before the Anambra State House of Assembly Tuesday.
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