Willie Obiano, the governor of Anambra State, on Thursday, October 14, 2021, presented a budget estimate of N141.9 billion for the 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 the 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 revenue and expenditure trend.
Obiano said the recurrent expenditure was projected to gulp 43 percent of the total budget size, translating to N60.9 billion.
According to him, “The remaining 57 percent which translates to N81.0 billion is for capital expenditure. This is expected to drive the 2022 budget which has the 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 business hub and a destination for new investments.”
The governor said 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, “he stated.
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.
He said the capital plan of the state included road works and infrastructure N23.0 billion 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 and medium enterprises development N1.0 billion, water resources and public utilities N2.01 billion, and community and social development programme N1.billion.