The governor said that the budget had a deficit of ₦120 billion expected to be funded through a facility from financial institutions.
Gov Charles Soludo of Anambra on Tuesday presented ₦410 billion 2024 budget to the state House of Assembly for approval.
Speaking at the ceremony, Soludo said the budget tagged- ‘Changing Gears: the transformation agenda begins’, was aimed at beginning the transformation agenda and implementing a new master to build a livable and prosperous homeland.
He said that the budget was made up of ₦313.9 billion capital expenditure, representing 77% and ₦96.2 billion recurrent expenditure, representing 23.46%. The governor said that the budget had a deficit of ₦120 billion expected to be funded through a facility from financial institutions.
“We recorded an estimated 66% budget performance in 2023 and today Anambra is ranked number one among the 17 southern state on ease of doing business and number two with lowest impact mortality rate.
“Internally Generated Revenue remains a fundamental challenge. In the 2023 budget, we expected a monthly revenue of about ₦4billion, so far, we are averaging ₦2billion.
“We are projecting ₦4.2 billion as monthly IGR in the 2024 budget and this is a wake-up call to all residents that we cannot build a livable and prosperous homeland if we do not pay tax.
“With the 2024 proposed budget, we hope to consolidate on ongoing projects. Our teachers, students, poor and vulnerable will smile because we are determined to maximise value for the people of Anambra,” he said.
Receiving the budget, the Speaker of the House, Somtochukwu Udeze, appreciated the governor for the massive transformation projects in the state. Udeze assured that the budget would receive expeditious consideration.
NAN reports that the difference between the 2023 budget (₦260 billion) and that of 2024 (₦410 billion) is ₦150 billion, reflecting a 57.8% increase.