Soludo presents N258.9 billion 2023 budget

Governor Charles Soludo of Anambra State has presented N258.97 billion 2023 budget to the House of Assembly.

Mr Soludo made the presentation on Thursday at the Assembly Chambers in Awka.

The budget, titled “budget of acceleration” recorded a raise from the N170 billion revised 2022 budget presented by Mr Soludo in May.

Mr 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”.

“Ours is an agenda with a deadline and there will be no excuses,” the governor said.

He said 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.

He also said about N91.8 billion, representing 56 per cent of the total capital expenditure, was devoted to land transport, power generation and urban reintegration.

This, he said, is a reflection of the “peoples’ priority needs” in the state.

“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,” Mr Soludo stated.

The governor said his administration will partner local communities to extend development to all parts of the state.

In July, the House 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.

But the governor said he did not borrow the money despite the approval of the House.

“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,” Mr Soludo said.

‘Revised budget possible’

The governor said the “key macroeconomic assumptions underpinning the budget could change after the 2023 general elections.

“If the changes are significant, we may have to come back with a revised budget (proposal),” he said.

“Under any scenario, our 2023 budget signposts our strategic direction and key deliverables as we march towards a liveable and prosperous homeland,” Mr Soludo added.

The 2023 budget represents nearly a 100 per cent increase from the sum of N141.9 billion approved by Governor Willie Obiano’s administration for 2022.

Earlier during the presentation, the Speaker of the Assembly, Uche Okafor, lauded the governor’s efforts in transforming the state since he assumed office in March.

Mr Okafor said Mr Soludo had justified the approval of N170 billion revised 2022 budget, saying the items added in the revised budget had been receiving “commendable attention” from the governor.

“We are all seeing the positive results of the revised 2022 budget in all sectors of the economy,” he said.

“I assure you, Mr governor, that this House will give this budget expeditious consideration and revert to you as soon as possible,” Mr Okafor stated.

‘Budget scales second reading’The budget initially passed first reading after Deputy Majority Leader of the House, Emeka Aforka, moved a motion for its adoption which was seconded by the Minority Leader, Onyebuchi Offor.

However, after a rigorous debate by the members of the assembly, the bill passed second reading.

“A bill for the law to provide for the sum of N258,970,175,905 for the service of Government of Anambra State of Nigeria for the year ending, December 31, 2023, and for related purposes. Second reading has been passed,” Mr Okafor, the speaker, declared.