Thursday, July 7, 2022

Budget Breakdown: Anambra State Government Explains The N170 Billion Contained In The 2022 Revised Budget Draft

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Anambra State Government through the ministry of Budget and Economic Planning has given the breakdown of 170 billion naira which is the budget size of the 2022 revised draft budget.

Recall that Governor Chukwuma Soludo presented the revised budget before the members of the state House of Assembly May 19.

The Commissioner for Budget and Economic planning, Ms Chiamaka Nnake who did the breakdown today during a press briefing revealed that the Recurrent expenditure accounts for 36 percent of the total budget while the capital expenditure accounts for the remaining 64 percent.

She went further to explain that about 60 percent of the capital expenditure is targeted at delivering infrastructure that the average citizens can feel, see, use or touch and which will have highest developmental impact.

Ms Nnake also gave the breakdown of the budget allocations across the priorities of the state which include works, transport, security, community choose your project, youth development, water and power, education, health, agriculture, ICT, reforming and digitizing revenue collection in the state, airport work in progress among others.

She also explained that the budget will be funded by 24 percent Internally generated revenue, 36 percent Federal allocation and 40 percent loan.

N108 billion was allocated to capital expenditure while N61.4 billion was allocated to recurrent expenditure for the year ending 2022.

The Commissioner for Information, Mr Paul Nwosu and the permanent secretary in the ministry of Budget and Economic planning, Mrs Stephanie Kerry-Uzo were present during the briefing.

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