Anambra govt gives detailed explanation of 2023 budget
3 min read
Governor Chukwuma Soludo
The Commissioner for Budget and Economic Planning, Ms Chiamaka Nnake has urged the people of Anambra State to watch out for the 2023 budget which shall focus on key deliverable projects.
The 2023 proposed budget is at a sum of N258,984,875,905 approximately at N259 billion. This is compared to the revised 2022 budget of N169.6 billion.
The capital expenditure increased by 51.1% from N108.2 billion in the 2022 revised budget to N163.5 billion.
While the recurrent expenditure increased by 55.6% from N61.4 billion to N95.5 billion in the 2023 proposed estimate.
Every budget has its capital and recurrent. The capital expenditure accounts for 63.1% of the budget size while the recurrent accounts for 36.9% of the budget size.
Key infrastructural projects account for 55.4% of the capital expenditure and 35% of the entire budget size.
The composition of recurrent budget includes; salaries (21.6%) of the recurrent expenditure, social benefits (15.2%), overhead (30.5%), loan repayment (17.5%) amongst others.
Sectorial allocation covers four broad sectors which includes the administrative sector, economic sector, law & justice sector, social sector.
The capital expenditure within the administrative sector accounts for 6.8% of the capital budget.
The economic sector accounts for 72.5%.
Law and justice sector accounts for 2.1% while the social sector accounts for 15.2% of the capital budget size.
The 2023 budget will highlight key deliverable projects ndi Anambra can feel, touch and experience.
The Leisure park project that will be delivered by the Ministry of Culture, Entertainment and Industry has a budget of N7.5 billion.
Under the Ministry of Education, the state Government is revamping the educational system with a budget of N8.4 billion, a mass improvement of N2.2 billion estimated in budget appropriated in 2022.
The health system have a budget size of N6.2 billion.
The site design, preparation of industrial city and Export Processing Zone under the Ministry of Works has a budget of N2 billion.
Legal outreach and mass mobilization of ndi Anambra delivered by Ministry of Information has a budget of N200 million.
Completion of ongoing road projects and construction of new ones which will be delivered by the Ministry of Works is budgeted at N70 billion.
Urban regeneration for Anambra which shall come up with iconic designs, road mapping and giving Anambra a facelift is budgeted at N2.5 billion under the Ministry of Works.
For Ministry of Youths, two key projects shall be delivered; development of Anambra innovation and business district is budgeted at N1 billion while Youth innovation and empowerment program is budgeted at N2.5 billion.
Women Affairs shall have a solution based cooperative for economic empowerment budgeted at N1.5 billion.
For Housing projects; Government House, Government Lodge and Commissioners Quarters budgeted at N4.5 billion.
Sports development is budgeted at N1.5 billion.
In improving the transport infrastructure, the State Government shall revamp water transport with boats and buses for mass transit at a budget of N2.9 billion.
In sustaining security, security gadgets and armored personnel carrier shall be purchased at a budget of N500 Million.
Special intervention projects targeted at oil producing communities; Anambra is an oil producing state and based on 5% derivation for 2023 budget is at N500 Million.
Oil palm and coconut seedlings have a budget of N1.5 billion.
Looking towards a 24/7 power supply in the state, N5 billion is budgeted for the power project in 2023.
Revamping urban water scheme gulps N2 billion in estimate.
Desilting of drainages is budgeted at N1 billion.
Community Choose Your Project is budgeted at N2 billion.
Grants to Community Governance is budgeted at N1.2 billion.
Building and deploying a state owned data center will take a budget of N720 Million.
Lastly, counterpart fund sustained for 2023 will have a budget of N3 billion.
These sums up for N123 billion, 78% of the capital budget.
HOW WILL THIS BUDGET BE FUNDED
There’s an approved loan of N100 billion expected to be granted to Anambra State Government before the end of this year.
Statutory Allocation from Federal Government is N101 billion.
IGR is N48 billion.
Capital Receipts is N6.4 billion.
Total revenue is N155.9 billion.
