Anambra state governor, Professor Chukwuma Soludo, Thursday, presented the revised 2022 Appropriation Act and 2022 Fiscal Framework before the State House of Assembly.
The bill raised the deficit in the state existing budget from 141.9 billion Naira to 170 billion Naira with the capital expenditure of 64% compared to 57% previously enacted at the administration of Governor Willie Obiano.
According to Soludo, the capital expenditure increased by 33% from N81 billion to N108 billion while recurrent expenditure increased marginally by 0.79% from N60 billion.
He explained that the revision became necessary to reflect the current realities, adding that N52 billion or 31% of the total budget were for the Ministry of Works as he had declared state of emergency on roads, including Airport, digitalisation of the ministry of finance, clearing of pension arears, payment of counterpart development funds, among others.
“The purpose of the 2022 Revised budget is to reflect current realities, challenges, and priorities of the new administration and Anambra. We are undaunted by the state of the treasury. We have seriously started reforming our system of tax administration to significantly ramp up our internally generated revenue over the coming years. We left the budget on security unchanged while we count on off budget resources from donations to augment,” he said.
The Speaker, Anambra State House of Assembly, Mr Uche Okafor, who presided over the plenary, directed the budget to the House of Assembly Committee on Appropriation, assuring of quick and accelerated hearing and passage.
