Soludo Presents N410b 2024 Budget for Anambra
Anambra State Governor, Charles Soludo, has presented a N410 billion budget for the year 2024 to the state House of Assembly for approval. With a focus on commencing the transformation agenda and implementing a new master plan, the budget aims to build a liveable and prosperous homeland for the people of Anambra.
The budget, which Soludo named Changing Gears: The transformation agenda begins, is divided into two major components. The capital expenditure stands at N313.9 billion, representing 77 percent of the budget, while the recurrent expenditure amounts to N96.2 billion, representing 23.46 percent.
To address the deficit of N120 billion in the budget, Soludo plans to secure a facility from financial institutions. In his speech, he highlighted the achievements of the previous year, stating that Anambra ranked number one among the 17 southern states in ease of doing business and number two with the lowest impact mortality rate.
However, the governor also expressed his concerns about the internally generated revenue, which remains a fundamental challenge for the state. Despite expecting a monthly revenue of about N4 billion in the 2023 budget, the state has been averaging only N2 billion.
We recorded an estimated 66 percent budget performance in 2023, said Soludo during the budget presentation ceremony. Today, Anambra is ranked number one among the 17 southern states on ease of doing business and number two with lowest impact mortality rate. Internally Generated Revenue remains a fundamental challenge.
Soludo’s proposed budget for 2024 takes into account the need for a holistic approach to economic development and improvement of the quality of life for the people of Anambra. The focus on capital expenditure reflects a commitment to investing in infrastructure and critical sectors that will drive economic growth.
The budget proposal will now undergo scrutiny by the state House of Assembly for approval. If passed, it is expected to contribute significantly to the development and transformation of Anambra State.
The presentation of the N410 billion 2024 budget by Governor Charles Soludo demonstrates his commitment to effecting positive change in Anambra. The budget’s focus on capital expenditure and development initiatives underscores the governor’s determination to build a prosperous and livable state.
Soludo’s plans to secure a facility from financial institutions to address the budget deficit and his concerns about internally generated revenue signal his recognition of the challenges faced by the state in sustaining economic growth. By presenting this budget, Soludo is demonstrating his resolve to tackle these challenges head-on and steer Anambra towards a brighter future.
The approval of this budget by the state House of Assembly will be a crucial step towards realizing Soludo’s vision for Anambra. As the budget undergoes scrutiny, it is essential that the interests and needs of the people remain at the forefront.
With its transformative agenda and focus on building a liveable and prosperous homeland, Soludo’s 2024 budget holds significant promise for the people of Anambra. As the state embarks on a new chapter of development, the effective implementation of this budget will be vital in bringing about the desired changes and improving the lives of the people.
Overall, Soludo’s budget proposal sets Anambra on a path towards growth and development. By prioritizing capital expenditure and addressing revenue challenges, the governor’s vision for the state can become a reality. As the budget undergoes the necessary processes, the people of Anambra eagerly await the outcome, hopeful for a better future that brings about positive transformation.
