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Friday, June 14, 2024

Anambra Govt Gives Breakdown of 2023 Budget, Reveals Funding Source 



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By Izunna Okafor, Awka
Anambra State Government has given a further-detailed explanation of the 2023 budget of the state, recently presented to the State House of Assembly by Governor Chukwuma Soludo, for consideration and approval.
The State Commissioner for Budget and Economic Planning, Ms Chiamaka Nnake, gave this further explanation on Saturday in Awka, alongside the State Commissioner for Information, Sir Paul Nwosu, and the Press Secretary to the Governor, Mr. Christian Aburime.
Recall that Governor Soludo had, on Thursday, November 10, presented a proposed budget sum of ₦258,984,875,905 (approximately ₦259 billion) before the House for consideration; which is comparably much higher than the state’s revised 2022 budget sum of ₦169.6 billion.
The trio of Nnake, Nwosu and Aburime, while giving the breakdown on Saturday, assured ndi Anambra that the 2023 budget shall focus on key deliverable projects.
According to them, the capital expenditure of the budget increased by 51.1% from ₦108.2 billion in the 2022 revised budget to ₦163.5 billion; while the recurrent expenditure increased by 55.6% from ₦61.4 billion in the 2022 budget to ₦95.5 billion in the 2023 proposed estimate.
They explained that “Every budget has its capital and recurrent. The capital expenditure accounts for 63.1% of the budget size, while the recurrent accounts for 36.9% of the budget size.
“Key infrastructural projects account for 55.4% of the capital expenditure and 35% of the entire budget size.
“The composition of recurrent budget includes: salaries (21.6%) of the recurrent expenditure, social benefits (15.2%), overhead (30.5%), loan repayment (17.5%) amongst others.”
The three top government functionaries added that “Sectorial allocation covers four broad sectors which includes the administrative sector, economic sector, law & justice sector, social sector.
“The capital expenditure within the administrative sector accounts for 6.8% of the capital budget. The economic sector accounts for 72.5%.
“Law and justice sector accounts for 2.1% while the social sector accounts for 15.2% of the capital budget size.
“The 2023 budget will highlight key deliverable projects ndi Anambra can feel, touch and experience.
“The Leisure park project that will be delivered by the Ministry of Culture, Entertainment and Industry has a budget of N7.5 billion.
“Under the Ministry of Education, the state Government is revamping the educational system with a budget of N8.4 billion —a mass improvement of N2.2 billion estimated in budget appropriated in 2022. The health system has a budget size of N6.2 billion.”
Going further, the said “The site design, preparation of industrial city and Export Processing Zone under the Ministry of Works has a budget of N2 billion.
“Legal outreach and mass mobilization of ndi Anambra delivered by Ministry of Information has a budget of N200 million.
“Completion of ongoing road projects and construction of new ones, which will be delivered by the Ministry of Works, is budgeted at N70 billion.
“Urban regeneration for Anambra, which shall come up with iconic designs, road mapping and giving Anambra a facelift, is budgeted at N2.5 billion under the Ministry of Works.
“For Ministry of Youths, two key projects shall be delivered: development of Anambra innovation and business district is budgeted at N1 billion while Youth innovation, and empowerment program is budgeted at N2.5 billion.
“Women Affairs shall have a solution-based cooperative for economic empowerment, budgeted at N1.5 billion.
“Housing projects —Government House, Government Lodge and Commissioners Quarters —is budgeted at N4.5 billion.
“Sports Development is budgeted at N1.5 billion.
“In improving the transport infrastructure, the State Government shall revamp water transport with boats and buses for mass transit at a budget of N2.9 billion.
“In sustaining security, security gadgets and armored personnel carrier shall be purchased at a budget of N500 Million.
“Special intervention projects targeted at oil producing communities: Anambra is an oil producing state and based on 5% derivation for 2023 budget, is at N500 Million.
“Oil palm and coconut seedlings have a budget of N1.5 billion.
“Looking towards a 24/7 power supply in the state, N5 billion is budgeted for the power project in 2023.
“Revamping urban water scheme gulps N2 billion in the estimate.
“Desilting of drainages is budgeted at N1 billion.
“Community Choose Your Project is budgeted at N2 billion.
“Grants to Community Governance is budgeted at N1.2 billion.
“Building and deploying a state-owned data center will take a budget of N720 Million.
“Lastly, counterpart fund sustained for 2023 will have a budget of N3 billion.
“These sum up for N123 billion (78%) of the capital budget.”
Revealing how the 2023 budget will be funded, the trio said there’s an approved loan of N100 billion expected to be granted to the state Government before the end of the year 2022.
On other sources of funding, they said “Statutory Allocation from Federal Government is N101 billion; IGR is N48 billion; Capital Receipts is N6.4 billion; total revenue is N155.9 billion.”

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