Governor Soludo presents N258.9 billion 2023 budget

The Governor of Anambra State, Prof Charles Soludo on Thursday presented N258.97 billion 2023 budget to the House of Assembly, tagged, ‘Budget of Acceleration’, which recorded a raise from the N170 billion revised 2022 budget presented by him in May.

Penpushing reports that, Soludo during the presentation, said that the 2023 budget embodied his administration’s singled-minded focus and determination to continue to press the accelerator pedals in spite of the risky bumps on the way.

The Governor explained that  the budget has a capital expenditure of N164 billion, accounting for 63.2 per cent, while recurrent expenditure at N95.5 billion accounts for 36.8 per cent, representing a budget deficit of N13 billion.

Penpushing further reports that, Soludo stated that the budget was a reflection of the peoples priority needs in the state, adding that  about N91.8 billion, representing 56 per cent of the total capital expenditure, was devoted to land transport, power generation and urban reintegration.

‘Ours is an agenda with a deadline and there will be no excuses. We plan to complete the building of the Anambra Airport within the 2023 fiscal year. A major emphasis is placed on environment – erosion control, desilting major drainage ways, tree planting, beautification, urban regeneration and preparations for emergency responses for the future,” Soludo stated.

Penpushing also reports that, the Governor disclosed that his administration will partner local communities to extend development to all parts of the state, while it is recalled that, the assembly in July, approved the Governor’s N100 billion loan request for the construction and refurbishment of key infrastructures in the state which were part of the 2022 revised budget.

The  Governor said he did not borrow the money despite the approval of the House of Assembly, stating that he has applied for N90 billion out of the 100 billion, and when it comes, expectedly in a few weeks’ time, the government  plan to roll it over as part of the 2023 (budget) financing

“We have, however, applied for N90 billion out of the 100 billion, and when it comes, expectedly in a few weeks’ time, we plan to roll it over as part of the 2023 (budget) financing. The key macroeconomic assumptions underpinning the budget could change after the 2023 general elections’, he said.

“If the changes are significant, we may have to come back with a revised budget (proposal). Under any scenario, our 2023 budget signposts our strategic direction and key deliverables as we march towards a liveable and prosperous homeland’, Soludo added.

The Speaker of the Assembly, Rt Hon Uche Okafor, earlier during the presentation commended the Governor’s efforts in transforming the state since he assumed office in March, stressing that he(Soludo) had justified the approval of N170 billion revised 2022 budget.

The Speaker pointed out that, the items added in the revised budget had been receiving commendable attention from the Governor, adding that residents of the state are all seeing the positive results of the revised 2022 budget in all sectors of the economy

‘We are all seeing the positive results of the revised 2022 budget in all sectors of the economy. I assure you, Mr Governor that this House will give this budget expeditious consideration and revert to you as soon as possible’ Okafor said

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