Anambra: Commissioner reveals how Soludo will fund revised 2022 budget

Anambra state governor Prof. Charles Soludo

Anambra state government, Tuesday, said it would finance its revised 2022 appropriation of N170 billion through loans, federal allocation and Internally Generated Revenue (IGR).

The state governor, Prof. Charles Soludo, had last week presented the revised budget to the state House of Assembly, as against the existing N142 billion appropriation which was presented last year by his predecessor, Chief Willie Obiano.

The state Commissioner for Budget and Economic Planning, Ms Chiamaka Nnake, who disclosed this at a budget breakdown in Awka, explained that 40% of the appropriation would be funded by loan, 36% (Federal Allocation) and 24% (IGR).

According to her, “The revised budget size is about N170billion 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.”

She further explained that N54 billion or 50% of the capital budget were penciled down for works with a view to provide infrastructural development in most of the local government areas, N4 billion for continuation of work at the Airport, N5 billion for payment of counterpart funding, to mention a few.

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