Politics
THE Anambra State Government plans to spend N137.1 billion in 2020. Presenting the budget proposal to the lawmakers on the floor of the Anambra State House of Assembly, Awka on Thursday, Sept. 26, Gov. Willie Obiano said that the budget entitled: “Accelerating Infrastructural Development and Youth Entrepreneurship’’ was less than N157.1 billion budgeted in 2019.
“This is intended to consolidate the achievements of the 2019 budget, which came with the same economic diversifications, job creation and value for money,’’ he said.
The breakdown of the budget showed that N58.69 billion was earmarked for recurrent expenditure, while capital expenditure would gulp N78.3 billion.
According to the budget proposal, road and infrastructure will gulp N22.2 billion and that N15.15 billion of the figure would be spent on the construction of new roads as well as the rehabilitation of the existing roads.
Education received N8.3 billion, Environment N2.9 billion, Youth Empowerment and Creative Economy N250 million and N265 million was for the establishment of Creative Centre and Information and Communication (ICT) related projects, while Health was allocated N6.98 billion and water resources and public utilities got N3.75 billion.
The small and medium enterprises development was allocated N1.1 billion.
Speaking on the budget, Gov. Obiano said: “This year’s budget is based on realistic projections of all sources of revenue, both external and internal, taking into consideration the state’s revenue and expenditure trends.
“The budget plans to sustain our past performances and ensure that Anambra State continues to maintain its status, as a hub for business and destination for new investments.
“Our collaboration with development partners such as Central Bank of Nigeria (CBN), FADAMA, IFAD and RAAMP, to support increased farming activities and access to farmlands will continue.
“It is hoped that the N3.4 billion allotted to agriculture will ensure that our programmes and policies are effectively implemented.”
He stated that great efforts were made to grow the economy of Anambra State, tackle insecurity, “so as to preserve our reputation as Nigeria’s safest state”.
“Consequently, we have grown our GDP from N3.8 trillion in 2016 to 4.0 trillion in 2017 at the rate of 5.73 percent.
“It is expected to hit N4.2 trillion mark in 2018 GDP report based on the preliminary figures from National Bureau of Statistics.
“We have retained our position as the fourth-largest economy in Nigeria; our target is to Leap-frog into the number one position,’’ Obiano said.
The governor noted that the `N20 million Choose Your Projects Initiative’ of the state impacted greatly on the economy and that the government would kick start the third phase of the project.
-Sep 27, 2019 @13:24 GMT |
Tags: Anambra State Governor presents over N137bn budget proposal to lawmakers
