From Chuks Moses, Awka
The Anambra State Governor, Chief Willie Obiano, Thursday presented the 2020 fiscal estimates of N137.1billion to the State Assembly for consideration and approval.
Christened ‘’Accelerating Infrastructural Development and Youth Empowerment”, the governor stated that the budget was designed to sustain past performance and ensure that the state continues to lead as a business hub and destination for new investments.
Forty-three percent of the total budget, which is about N58.69billion, is meant for Recurrent expenditure; while Fifty-seven percent, which is about N78.3 billion, is for Capital expenditure.
The larger chunk of the estimates were for proposed Roads construction, Education and a Cargo Airport. Road construction and rehabilitation got N22.2bn, out of which N15.15bn would be spent on the construction of new roads as well as the rehabilitation of existing ones, Education got N8.3bn, while the Anambra International Airport would get N6bn.
Gov Obiano noted that when approved the budget would drive massive development in the state generally. He said construction of roads and bridges would remain the major focus of his administration.
The estimate represents a 20 billion naira reduction from the 2019 appropriation which totalled N157.1 billion.
Gov Obiano also said the State recorded over 83 percent in the implementation of the 2019 budget, adding that the new year’s draft aims to accelerate industrial development and youths development. It was predicated on crude oil bench price of 55 dollar per barrel; annual Federal Allocation of 43.5 billion Naira, annual Value Added Tax of 15.5 billion Naira and annual IGR of 30 billion Naira.
Commending the governor for the early presentation, the Speaker of the Anambra State House of Assembly, Uche Okafor, assured on accelerated work on it for quick passage.