Governor Willie Obiano of Anambra State
Gov. Obiano proposes N141.9 billion for 2022 fiscal year in Anambra
[From CHINEDU NWAFOR, Abakaliki]
Governor Willie Obiano of Anambra State on Thursday presented a budget proposal of N141.9 billion for the 2022 fiscal year to the state House of Assembly for consideration.
The budget was christened, “Budget of Continuity, Sustainability and Development of a New Anambra”, which the Governor said would help sustain past performance in the last seven years and ensure the state maintained it status as a business hub and investment destination.
Obiano said: “The 2022 budget proposal will be the last annual budget of this administration. The budget seeks to consolidate and sustain the development aspirations of Anambra state. It is our hope, that it will be given speedy consideration and passage to ensure a steady advancement of our dear state.”
A breakdown of the budget showed that a lion share of N81 billion representing 57 per cent of the budget was allocated to capital expenditure while N60.9 billion or 43 per cent was allocated to recurrent expenditure.
The budget estimate Obiano maintained was premised on the crude oil price benchmark of $50 per barrel.
The revenue expected from Value Added Tax (VAT) stands at N19.8 billion, while other capital receipts would be N23.38 billion.
Also, the sum of N40.36 billion is proposed to be raised from Internally Generated Revenue (IGR).
Obiano said that N21.67billion would be spent as salaries and wages.
The budget proposal further showed that N18.3 billion would be spent on group life insurance, loan, pensions and gratuities of retirees, while N23.78 billion would be spent on overheads.
The sum of N13.4 billion was provided for domestic debt financing, comprising of single digit concessionary programme lending for interventions in healthcare, social investments, agriculture, manufacturing and youth entrepreneurship.
Road works and infrastructure has N23 billion followed by healthcare which had N5.8 billion, Environment and education were allocated N3.42 billion and N3.23 billion respectively.
The agriculture and youth empowerment and creative economy got N3 billion and N2.08 billion respectively.
Water resources and public utilities got N2.1 billion while community social development projects got N1.4 billion and medium enterprises development N 1billion.
A further look at the budget proposal showed that N10 billion was earmarked for the completion of the Anambra International cargo Airport, N2.8 billion for the completion of the International Convention Centre, Awka and 700 million for the completion of Awka City stadium.
Receiving the budget, the Speaker, State House of Assembly, Uche Okafor, expressed the preparedness of the House to continue to partner with the executive through passage of people-oriented and development driven legislation.
