REPORTER: BEN ILECHUKWU
Anambra State Government says that the 2024 budget estimate will accelerate growth and development in all the key sectors of the state’s economy.
The Commissioner for Budget and Economic Planning, Mrs. Chiamaka Nnake, who stated this during the breakdown of the 2024 budget at Government House Awka, noted that the over N410 billion appropriation bill exceeded that of the 2023 draft budget of (N258,984,875,905.) amounting to total of 57.8% increase.
The 204 appropriation bill christened “Changing Gears: The Transformation Agenda Begins” has a capital expenditure of N313.9 billion naira representing 76.54% of the budget proposal while the recurrent expenditure of N96.2 billion naira accounts for 23.46% of the budget estimate.
Mrs. Nnake explained that the budget would be financed from the Internally Generated Revenue (IGR), federal allocations, and loans from financial institutions, adding that the state had a five trillion naira economy with an increasing IGR.
According to the Commissioner, the 2024 budget would be used for consolidating and expanding the ongoing programmes and projects in key sectors of the economy including infrastructure, education, agriculture and health.
Mrs. Nnake, while acknowledging a N120.8 billion deficit in the 2024 budget, explained that government had already attained a 60% implementation of the 2023 budget and was yet to borrow one kobo to finance the fiscal year.
On $200,000,000.00 dollars Memorandum of Understanding (MoU) Agreement between AFREXIM Bank and the Anambra State Government, the Budget Commissioner hinted that parts of the agreement was for AFREXIM Bank to champion the development of the industrial city in the state, through the mobilization of potential investors.
Contributing, the State Commissioner for Information, Mr. Paul Nwosu, pointed out that an increased allocation of NI.5 billion for media was quite impressive and a testament to the fact that the Soludo administration was deeply interested in the welfare of journalists in the state.
EDITED BY CHUKWUBUIKE MADU