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Obiano presents N164.5bn as 2015 budget to lawmakers

Governor of Anambra State,Chief Willie Obiano,yesterday said the state government will spend the sum of N164.496 billion for 2015. Obiano said next year’s budget of N164.496 billion represents only a marginal increase of 3.17 percent over the figure of N159.469 billion for 2014. The Governor who announced this development while presenting the 2015 Budget to members of Anambra State House of Assembly in Awka,yesterday stated that the sum of N1.8 billion has been approved for the initial take-off of the Contributory Pension Scheme for the workers. Giving the details of 2015 Budget titled,”Budget of Wealth Creation and Social Cohesion” before the House of Assembly members, the Governor said that the estimated amount for Capital Expenditure stands at N110.979 billion, while the sum of N53.517 billion has been set aside for recurrent expenditure. He also announced that the total recurrent revenue earning for 2015 was projected at N102.039 billion, comprising the sum of N48.040 billion derivable from Statutory Allocations, and the sum of N54 billion expected from the internally generated revenue. He stated that the policy direction of next year’s budget is consistent with the broad policy thrust of providing adequate support for what he described as “Economic Pillars and Enablers”,and ensuring /;’ that the cost of governance is adequately provided for. Obiano further announced that the government was already experiencing a decline in the State’s share of revenue from Federation Accounts Allocation Committee,a development that was expected to continue in 2015. He stated that in 2015 Fiscal Year, that the government would strive to develop more agricultural land across the State to enhance food security, investment in education will be further enhanced by the vigorous implementation of UNIDO-Assistant Entrepreneurship education for Senior Secondary Schools, as well as by the State Education Programme Investment Project,a World Bank Assisted Project. Next years budget will be the very first by the Obiano administration as he has all along since his swearing in been working on that bequeathed him by the Obi administration, which is tagged, budget of integrated development VI.

Ifeizu

Ifeizu is a seasoned journalist and Managing Editor of TheRazor. He has wide knowledge of Anambra State and has reported the state objectively for over a decade.

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