Obiano presents N166.9bn budget for 2018 fiscal year

Gov. Willie Obiano of Anambra state has presented budget of N166.9bn for the 2018 fiscal year.

Obiano while presenting the budget to the House of Assembly in Awka on Thursday said that the proposed budget represented a 43 per cent increase on the current year’s budget.

He said that N63.9bn would be spent on recurrent expenditure and N103.1bn on capital expenditure to drive the policy thrusts of “Value-for-Money, Economic Diversification and Job Creation”.

He said that the estimates were predicated on a projected monthly Federal allocation for the state of N2.52billion, value-added tax revenues projected at N1billion, monthly IGR of about N2.5 billion, grants and counterpart funds N20 billion.

The others are receipts of concessionary debt financing for social sectors of N18.4billion and reimbursements and refunds from the Federal government and the Paris Club payments of N50 billion.

Obiano said that his government had done well in implementing the 2017 budget, setting new records in entrenching accountability and transparency in the state governance.

He therefore said the 2018 draft estimate illustrates his administration’s resolve to sustain its efforts at providing dividends of good governance to the people as it looks beyond the overcast of the present recession, to a brighter future of possibilities and creativity.

According to him, sectoral capital plans were developed with their cost implications for key sectors namely roads and infrastructure N25.7 billion, agriculture and related sectors N3.8 billion, education N9.5billion, Health N7.8 billion, Water Resources and Public Utilities N5.1 billion and community social development program N7.5 billion.

The governor expressed confidence that the budget will effectively guide the activities of his government and steer conversations and actions in relevant areas that will lead to growth and productivity in the state economy, calling for accelerated consideration and passage of the budget to ensure its timely implementation.

Earlier in her remarks, the Speaker of the State Assembly, Mrs  Rita Maduagwu said consideration of bills is one of major responsibilities of the legislature and the 6th Assembly has done well in that regard, having passed over 30 bills since inception, commending the executive arm for efficiently implementing the 2017 budget which had resulted in the people’s recent renewal of the mandate they gave to the governor 3 years ago.

While assuring that the House will sacrifice their Christmas break to see to the speedy passage of the budget, Bar Maduagwu called on Ministries, Departments and Agencies to be ready for bilateral budget interactions as the House Committee on Finance and Appropriation will commence the budget defence soon.

The Bill also during the plenary passed first reading.