Soludo presents N260bn 2023 budget proposal
GOVERNOR Chukwuma Soludo of Anambra state Thursday presented a draft budget of about N260 billion estimation for 2023 fiscal year to the State Assembly.
Soludo said the budget tagged “Budget of Acceleration” was embodied on single-minded focus and determination to continue to press the accelerator pedals in spite of the risky bumps on the way.
The budget passed second reading with a motion by the Hon. Emeka Aforka, deputy Majority Leader, representing Orumba North LGA of the state.
He sited several relevant legislative laws to move the motion which the Speaker, Hon. Uche Okafor had the majority House members’ supported for acceleration hearing.
Continuing, Soludo said the budget compared to 2022 budget of N170billion had the capital budget of N164.2 billion accounting for 63.2% while the recurrent expenditure of N95.5 billion accounts for 36.8 percent. It has a deficit of N13 billion.
“We have indeed taken off from the blocks and there is no looking back. Ours is an agenda with a deadline and there will be no excuses.
Soludo, who assumed duties eight months ago said that the House had approved for the state government to borrow N100 billion to part-finance the revised 2022 budget.
“So far, we have not borrowed a kobo. We have however applied for N90billion out of the approved N100 billion, and when it comes (we expect so in a few weeks’ time), we plan to roll it over as part of the 2023 financing.
“As a reflection of our people’s priority needs, about N91.8 billion or 56% of the total capital expenditure is devoted to roads, transport, power and urban regeneration that the average citizen can feel, see, or use and which have the highest developmental impact within the shortest possible time.
“The Education, health, youths, and women/vulnerable groups have their capital votes more than doubled. We appropriately budgeted for counterpart funding to catalyze resource inflows from our partners.
“Expenditure on security remains barely unchanged in spite of increased challenges, although some enforcements for law and order will receive increased spending.
“Our goal is to transform Anambra into a livable and prosperous smart megacity that is the preferred destination to live, invest, learn, work and relax/enjoy. Every one of the five pillars of our agenda is receiving systematic attention: security, law and order; robust economic transformation from an informal economy into a new industrial-techleisure hub.
On security, we launched the citizen-security partnership to “take back our State” and today, the eight local governments that were literally under the occupation of the criminals when we assumed office have been liberated.
The governor promised to declare a state of emergency on roads and transform Anambra into one large construction site once the dry season begins.