Professor Chukwuma Soludo, the governor of Anambra State, has submitted a N260 billion budget estimate titled “Budget of Acceleration” to the state House of Assembly for approval.
The budget is N90 billion greater than the governor’s earlier-in-the year proposed N170 billion amended 2022 budget.
The budget’s estimated capital expenditure is N164.2 billion, or 63.2% of the total, while the estimated recurring spending is N95.5 billion, or 36.8%.
The governor claims that the 2023 budget has a N13 billion deficit.
The state’s gross domestic product, or GDP, stands at 0.87%, making it one of the countries with the lowest tax receipts as a percentage of income, according to Soludo.
For instance, Soludo stated that Lagos State projected IGR to earn N1.1 trillion in 2023 (nearly N100 billion each month and 64% of its N1.7 trillion 2023 budget). IGR for Anambra in 2023 will only be 4.4% of IGR for Lagos State. Even 5% of Anambra’s GDP as IGR in 2023 would amount to N275 billion, which is significantly more than our whole budget. Just 5%, that’s right. You can read more of such stories at Credible News.
“As a nation, we must seriously consider how to pay for our dream of creating a hospitable and affluent country for a nomadic people. Our people are dispersed over the world, but they also have permanent addresses in Anambra, where they are buried at death (expecting government protection and infrastructural provision.
According to the governor, Anambra will be transformed into a livable, wealthy smart megacity that is the go-to location for people to invest in, learn, work, and unwind.
He claims that “each of the five pillars of our agenda is receiving systematic attention: security, law and order; robust economic transformation from an informal economy into a new industrial-tech-leisure hub; a comprehensive social agenda for a human capital bank that is productive at home and exportable abroad and leaves no one behind; transparent, prudent and accountable governance underpinned by a new value system; and a sustainable environment through clean energy.”
We have been working quickly over the past seven months to solve some of the fundamental problems.
You can read more of such stories at Credible News and The Cheer News
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