Anambra State Government has presented the 2019 Budget estimate of N157.1 billion, entitled “Budget for sustained Economic Growth and Youth Empowerment’’.
The budget proposal has 41.3per cent of the total earmarked as recurrent expenditure, while 58.7 per cent is for capital expenditure.
This is less than N166.9 billion budget estimate for 2018 fiscal year.
Gov. Willie Obiano made the presentation during the legislative sitting at the Anambra State House of Assembly at Awka.
Addressing members of the Assembly, Gov. Obiano said that the budget had spending ratio of N65.33 billion for recurrent expenditure and N91.8 billion on capital expenditure.
The Governor noted that N22.4 billion had been estimated for roads, saying construction of new roads would gulp N20.9 billion.
Meanwhile, N1.5 billion would be earmarked for ongoing rehabilitation of roads as well as construction of rural roads.
In Education, a total capital expenditure of N11.9 billion had been projected with N1.5 billion allotted for World Bank Assisted State Education Programme and Intervention Project (SEPIP).
The state also earmarked N3.0 billion for infrastructure development and capital improvements in state-owned universities, colleges and polytechnics.
In other areas of development, the budget captured N1.4 billion for youths empowerment with an additional N100 million for job creation in film village, while N9 billion has been budgeted for strategic intervention in the health sector.
Obiano, then, pointed out that N4.8 billion was factored in the budget for Community Social Development Programme, while N2.8 billion has been allotted for the third phase of community development projects.
“The 2018 Budget offered us a great opportunity to distil the promise of my Economic Blueprint further in pursuit of a better Anambra State.
“I am happy to report that even in the face of adversity, we remain firmly focused on our goals.
“We stayed true to our Vision of making Anambra State the First Choice Investment Destination and a hub for industrialisation and commercial activities.
“We also kept to our Mission of making Anambra State a socially stable, business-friendly environment that will attract both indigenes and foreigners to seek wealth-creating opportunities.
“In the 2019 fiscal year, we plan to review our four year State Development Plan and finalise the preparation 2019-2021 medium term sector strategies across key MDAs.
“We also plan to ensure increased capacity building for officers involved in the budget preparation and execution,’’ the governor said.
“This will strengthen the resource allocation and utilisation process and ultimately ensure that we achieve more in sectors that will benefit the populace.
“Presently, we are working in collaboration with BudgiT to simplify our annual budget to ensure that Ndi Anambra understand the allocations to areas that affect their lives and fully participate in monitoring the implementation of the budget.
“Also in 2019, focus will be on diversifying the economy by investing heavily in the creative economy, agriculture, technology and tourism.
“This will ensure that jobs are created for the teeming youths of Anambra State,’’ Gov. Obiano vowed.
“We also intend to intervene in the areas of job-creation through youth empowerment and skills acquisition in partnership with the private sector.
“This will assist in improving the means of livelihood for the poor and vulnerable,’’ Obiano added.
– Dec. 7, 2018 @ 12:52 GMT |