Anambra State Governor, Chief Willie Obiano, on Thursday presented a budget estimate of N141.9 billion for 2022 fiscal year to the State House of Assembly.
The budget which is the last of his eight year’ administration was less than the N143.65billion presented for 2021 fiscal year tagged budget of “Economic Recovery and/Consolidation”.
Obiano while presenting the budget estimate said the 2022 budget estimate was based on realistic projections of all sources of revenue, both external and internal, taking into consideration, the state’s revenue and expenditure trend.
Obiano said the recurrent expenditure was projected to gulp 43 per cent of the the total budget size, translating to N60.9billion .
“The remaining 57 per cent which translates to N81.0 billion is for capital expenditure.
“This is expected to drive the 2022 budget theme of continuity, sustainability and development of the new Anambra.
“This budget will be geared towards sustaining our past performance over the last seven years and ensure that we maintain our status as a hub business and a destination for new investments,” Obiano affirmed.
According to him, internally generated revenue is projected at N3.35 billion monthly and N40.36 billion annually for 2022, compared to N3.04 billion annually last year.
“We plan to achieve this through instituted reforms as well as continuous strengthening of our enforcement initiatives and sustaining the growth of our tax database. We have no plan to increase taxes or levies in the coming year.”
The governor stated that other adopted macro-economic assumptions for the budget estimates included capital receipts at N23.38 billion compared to N18 billion of last year and personnel costs at N1.8 billion monthly compared to N1.56 billion last year.
Highlights of capital plan including road works and infrastructure are N23.0 billon earmarked for roads and bridges, N12.16 billion on new roads, agriculture N3 billion, environment N3.42 billion, education N3.23 billion, youth empowered and creative economy N2.08 billion
Others are health – N5.88 billion, small & medium enterprises development – N1.0 billion, water resources and public utilities – N2.01 billion, community and social development program – N1.billion.
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Obiano presents N141.9b appropriation bill for 2022