Obiano presents N166.9bn budget

By Okey Chris

Awka

Governor Willie Obiano of Anambra State, yesterday presented a budget of N166.9 billion entitled “Budget for Value-for-Money, Economic Diversification and Job Creation” to the state House of Assembly for 2018 fiscal year.
Obiano explained that the proposed budget size represented a 43 percent increase on the current year’s budget which stood at N115.5 billion and tagged “Budget of Economic Recovery and Inclusive Growth.”
He said the estimate illustrates his administration’s resolve to continue to deliver the dividends of good governance to the people of Anambra, adding that the Value-for-Money in the budget entails that the state would “carefully assess all activities and make difficult trade-offs to ensure we focus solely on implementing projects and programmes that provide commensurate value to Ndi Anambra. The underlying principle going forward shall be “Doing Even More with Less.”
On ‘Economic Diversification’ Obiano added that his administration would ensure that Anambra attains fiscal independence over the next four years through her internally generated revenues, which he believed would cover “our recurrent expenditure with the balance to support capital interventions. We hope to aggressively embark on public finance reforms to optimize and strengthen our tax administration processes”.
Further, he averred that job creation was number three in his 2018 fiscal year with a view to ensuring that Anambra tackles unemployment, underemployment and more importantly, provide a means of livelihood for the poor and vulnerable.
A breakdown of the budget showed that in the next fiscal year, it shall be funded by the state Internally Generated Revenues projected at N2.5bn monthly compared with the current run rate of N1.35bn monthly as claimed by Governor Obiano, as well as through grants and counterpart funds estimated at N20bn; other capital receipts comprising of concessionary debt financing for the state social sectors estimated at N18.4bn.
Similarly, the state expect to receive reimbursements and refunds from federal government for works done on federal roads and Paris Club payments estimated at N28bn of the 43.8bn owed to the State; while personnel costs such as workers remuneration, replacement of retired teachers, promotions and appointments were estimated at N21.6bn vs. 2017E of N20.4bn.
It also showed that the state expects to spend N63.9bn on Recurrent Expenditure and N103.1bn on Capital Expenditure, even as N27.93bn would be spent on Roads & Infrastructure comprising completion of 150km of roads across the state, road constructions, rehabilitation, bridges construction, installation of Traffic Lights on strategic roads and others.
In Agriculture and related Sectors, N3.8bn was estimated for facilitating private sector and export-driven large scale agro-allied investments; empowerment of small scale farmers in the state, develop over 1,500 hectares of land across the three (3) senatorial zones of the state under Community Agriculture Land Development Project, procurement of agro inputs, including seedlings and fertilizers, to support farmers.
Similarly, a total capital expenditure spend of N9.5bn was budgeted for Education comprising N1.1bn counterpart fund for UBEC, creation of a N1bn Education Development Fund; and N1.2 World Bank Assisted State Education Program & Intervention Project (SEPIP), and others.
On Youth Empowerment & Development, the state allocated N5bn to empower up to 10,000 youths through vocational, agricultural and artisan training programmes as well as the provision of interest-free start-up capital to commence their businesses.
In the health sector, the state budgeted N7.8bn for achieving Anambra State Universal Health Insurance Scheme, providing cover for the downtrodden and most vulnerable, constructing & Equipping the Anambra State University Teaching Hospital and the Specialist Diagnostic Center, and others.
Earlier commending the governor, the Speaker, Anambra State House of Assembly, Rt. Hon. Rita Maguagwu, said that a good number of items budgeted for in 2017 running estimate was accomplished, and promised to give accelerating hearing on the new budget to fast track its passage.

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