Obiano Proposes N157Bn Budget Estimates For 2019 

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The Anambra State governor, Willie Obiano has presented 2019 budget estimate of N157.1 billion to the State House of Assembly.

The 2019 draft estimate represents a lower figure than that of the 2018 fiscal year by about N9.8 billion.

Tagged “Budget for Sustained Economic Growth and Youths Empowerment “, the estimates show that 58.7 percent is for Capital Expenditure while the remaining 41.3 percent is for Recurrent Expenditure.

The budget, according to the governor was predicated on macro-economic assumptions of $60 per barrel of Crude Oil sales as Benchmark price.

Consequently it projected the state’s 2019 Federal revenue receipts at about N40 billion; the Value Added Tax Revenue at N12 billion, while the internally generated revenue(IGR)estimates are N36 billion.

Ministries of Roads Infrastructure, Agriculture, Health, Education, Youths Empowerment and Small and Medium Enterprises Development were among those that got high allocation projections for the fiscal year.

Gov Obiano said the estimate clearly demonstrates his administration’s determination to continue delivering good governance and purposeful leadership to the people.

The lawmakers pledged to commence work on the bill immediately.

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