Anambra State Governor Charles Soludo has presented to the House of Assembly, the proposed N410 billion 2024 Appropriations Bill for approval on Tuesday.
During the event, Soludo stated that the budget, titled “Changing Gears: The Transformation Agenda Begins,” was intended to start the transformation agenda and put a new master plan into place to create a successful and livable country.
He said that the budget contains N313.9 billion in capital expenditure, representing 77 per cent and N96.2 billion in recurring spending, or 23.46 per cent.
The governor added that a financial institution facility is anticipated to cover the N120 billion budget gap.
According to him:
“We recorded an estimated 66 per cent budget performance in 2023 and today Anambra is ranked number one among the 17 southern states on ease of doing business and number two with lowest impact mortality rate.
“Internally Generated Revenue remains a fundamental challenge. In the 2023 budget, we expected a monthly revenue of about N4 billion, so far, we are averaging N2 billion.
“We are projecting N4.2 billion as monthly IGR in the 2024 budget and this is a wake-up call to all residents that we cannot build a liveable and prosperous homeland if we do not pay tax.
“With the 2024 proposed budget, we hope to consolidate on ongoing projects. Our teachers, students, poor and vulnerable will smile because we are determined to maximise value for the people of Anambra.”
The Speaker of the House, Mr Somtochukwu Udeze, thanked the governor for the state’s enormous development programmes in the state.
Udeze promised that the budget will be reviewed as soon as possible.
According to NAN, there is a 57.8% rise in budget between 2023 (N260 billion) and 2024 (N410 billion), totalling N150 billion.
cc: Daily Post Ng