Anambra State governor, Prof Chukwuma Soludo has presented N410billion budget estimate for the 2024 fiscal year, to the state house of assembly.
Soludo presented the budget estimate yesterday at the plenary before the 30 lawmakers of the state assembly.
He said the estimate will help the state to achieve the transformation that he promised citizens of the state.
Soludo who addressed members of the assembly said: “I am here to present the draft 2024 budget. With this budget, we are making an announcement that Anambra is Changing Gear, and that the promised Transformation Agenda now begins…!
“The transformation agenda is one that intentionally executes a new Masterplan of the state designed to turn Anambra into a livable and prosperous smart megacity. We are determined to change Anambra’s narrative from its current status as a “departure lounge” to a “destination of choice”: preferred destination to live, work, invest, learn and relax and enjoy!
“Consequently, and in spite of the humongous need, we present a modest budget of N410,132,225,272 for fiscal year, 2024, compared to N258,984,875,905 for 2023 (about 57.8% increase).
“Recurrent expenditure accounts for N96.2 billion (23.46%) while capital expenditure is N313.9 billion (76.54%). Budget deficit is estimated at N120.8 billion. Relative to 2023, some key sectors have significant increases: Administrative sector (50.85%); Economic sector (103.43%); Judiciary Sector (72.9%); Social Sector (60.24%); Education (140.88%); Health (169.55%); Infrastructure investment (119.84%); overhead costs (34.1%); etc.
“Evidently, Nigeria’s macroeconomic environment remains challenging due largely to the missteps of the past. Sub-national governments are obviously constrained by the larger macro environment. However, we are determined to maximize the limited headroom available to create value for Ndi Anambra.”
Soludo listed some of his landmark achievements within his 20 months in the state as governor, listing his employment of 5,000 teachers, 3,000 medical personnel, 400 kilometers of roads and many more.
He added that though his government declared state on emergency on roads in the state, but stated that the rot he met on state of roads in the state was much. He also added that securitywise, he has secured the state.
“Our security is getting stronger by the day, and the eight local governments that were in total control by the so-called Unknown Gunmen have been largely liberated.
“Over 400 kilometres of roads plus two flyovers are under construction in all the 21 LGAs and in a few weeks we shall embark upon commissioning of the finished ones. Anambra had a severe road crisis, and I promised during the electioneering campaigns to declare a state of emergency on roads.
“With the state of decay, even if we spend the entire year’s budget on roads in one local government, it would still be a scratch. We are strategic in the choice of game-changing roads that impact on the productivity of our people, especially in connecting hitherto neglected/abandoned people, LGAs and communities,” Soludo said.
