Governor Charles Soludo of Anambra State has presented a proposed N410 billion 2024 Appropriation Bill to the House of Assembly for approval.
During the ceremony, Governor Soludo highlighted that the budget, titled ‘Changing Gears: The Transformation Agenda Begins,’ aims to initiate a transformation agenda and implement a new master plan to create a prosperous and livable homeland.
The budget comprises N313.9 billion for capital expenditure, accounting for 77 percent, and N96.2 billion for recurrent expenditure, representing 23.46 percent.
Governor Soludo mentioned that the budget has a deficit of N120 billion, which is expected to be financed through a facility from financial institutions.
He emphasized the state’s achievements, including a 66 percent estimated budget performance in 2023, Anambra’s leading position among the 17 southern states in ease of doing business, and the state’s second lowest infant mortality rate.
The governor acknowledged the challenge of internally generated revenue (IGR) and stated that the 2024 budget aims to address this. He projected a monthly IGR of about N4.2 billion, signaling the importance of tax payment for building a prosperous state.
Governor Soludo expressed his commitment to maximizing value for the people of Anambra and ensuring the well-being of teachers, students, and the poor and vulnerable.
Upon receiving the budget proposal, the Speaker of the House, Mr. Somtochukwu Udeze, expressed appreciation for the governor’s transformative projects in the state and assured that the budget would undergo prompt consideration.
The 2024 budget of N410 billion reflects a significant increase of N150 billion (57.8 percent) compared to the 2023 budget of N260 billion.
Note: The information provided is based on the given context, and any further developments or updates on the budget may not be reflected in this response.