8.4 C
New York
Monday, December 11, 2023

Soludo presents N410bn 2024 budget for Anambra



- Advertisement -

Gov. Charles Soludo of Anambra on Tuesday presented N410 billion 2024 budget to the state House of Assembly for approval.

Speaking at the ceremony, Soludo said the budget tagged- ‘Changing Gears: the transformation agenda begins’, was aimed at beginning the transformation agenda and implementing a new master to build a liveable and prosperous homeland.

He said that the budget was made up of N313.9 billion capital expenditure, representing 77 per cent and N 96.2 billion recurrent expenditure, representing 23.46 per cent.

The governor said that the budget had a deficit of N120 billion expected to be funded through a facility from financial institutions.

“We recorded an estimated 66 per cent budget performance in 2023 and today Anambra is ranked number one among the 17 southern state on ease of doing business and number two with lowest impact mortality rate.

READ ALSO  270 Injured, 35 Die, As Anambra Records 97 Road Accident in Eleven Months

“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 N2billion.

“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,” he said.

Receiving the budget, the Speaker of the House, Mr Somtochukwu Udeze, appreciated the governor for the massive transformation projects in the state.

READ ALSO  Anambra Journalists Lose Colleague, Anoliefo, Rally Support for Her Children

Udeze assured that the budget would receive expeditious consideration.

NAN reports that the difference between the 2023 budget (N260 billion) and that of 2024 (N410 billion) is N150 billion, reflecting a 57.8 per cent increase.

Hey there! Exciting news - we've deactivated our website's comment provider to focus on more interactive channels! Join the conversation on our stories through Facebook, Twitter, and other social media pages, and let's chat, share, and connect in the best way possible!

Join or social media

For even more exclusive content!

Of The Week


- Advertisement -

Of The Week

247Ureports Protects its' news articles from plagiarism as an important part of maintaining the integrity of our website.