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The Anambra State Government has opened up about funding for the ₦170 billion 2022 revised budget for the state which is not an issue for the state governor, Prof Chukwuma Soludo.
The State Commissioner for Budget and Economic Planning, Ms Chiamaka Nnake stated this during a press conference on a budget breakdown at the government house, Awka.
Soludo had last week presented a revised budget for 2022 to the Anambra State House of Assembly, with a size of ₦170 billion as against the existing appropriation of ₦142billion, which was presented last year by former governor, Chief Willie Obiano.
The Budget and Economic Planning Commissioner who addressed journalists said the budget would be financed through Internally Generated Revenue (IGR), loans and federal allocations.
Nnake said, “The Budget will be funded 24% by Anambra’s IGR, 36% Federal allocation and 40% from loan.
“The revised budget size is about N170 billion versus the existing appropriation of N142 billion (with the capital expenditure accounting for 64% compared to 57% previously).
“Capital expenditure increased by 33% from N81 billion to N108 billion while Recurrent expenditure increased marginally by 0.79% from N60.9 billion to N61.4 billion.
“Budget allocation across our priorities include; works, transport, water and power, agriculture and healthcare, youths, security, ICT, security, Law and order.”
In the breakdown, Nnake said about N54 billion or about 50% of the Capital budget is for the Ministry of Works and Infrastructure and the government intends to simultaneously invest in roads, in most of the local governments, paying special attention to the urban regeneration agenda.
The Commissioner also gave details of how the budget would be spent on other priority areas.