Obiano presents 166.9Bn budget to State Assembly

The 2018 draft estimate titled "the budget for value for money, economic diversification and job creation"...

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Gov Willie Obiano this morning presented life changing and policies, infrastructure sustaining 2018 budget estimates to the Anambra State House of Assembly.

The 2018 draft estimate titled “the budget for value for money, economic diversification and job creation”, has a proposed size of 166. 9 billion naira representing an increase of 44 percent on the 2017 budget.

In the proposal, the State government would spend N103.03 billion on Capital Expenditures and N63.8 billion on Recurrent Expenditures with major policy thrusts aimed at achieving value for money, economic diversification, job creation, strategic collaboration with the Federal government and the Development Partners as well as Public Private Partnerships.

The estimates are predicated on a projected monthly Federal allocation for the state put at N2.52 billion; value-added tax income projected at N1 billion; monthly internally generated revenue(IGR) receipts of about N2.5billion; grants and counterpart funds estimated at N20 billion; receipts of concessionary debt financing for social sectors put at N18.4 billion and reimbursements and refunds from the Federal government and the Paris Club payments estimated at N50 billion.

Presenting the budget estimate, Gov Obiano said that his administration had done well in implementing the 2017 budget, setting new records in entrenching accountability and transparency governance.

He therefore said the 2018 draft estimate illustrates the 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 N9.5 billion; Health N7.8 billion; Water Resources/Public Utilities N5.1 billion and community social development program N7.5 billion.

The governor expressed confidence that the budget would effectively guide the activities of the state government and steer conversations and actions in relevant areas that will lead to growth and productivity in the state economy. He called on the State Assembly for an accelerated consideration and passage of the budget to ensure its timely implementation.

Earlier in her remarks, the Speaker of the State Assembly, Rita Maduagwu said consideration of bills remain 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 to the governor.

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 would commence the budget defence soon.

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