You are here
Home > Anambra State > Obiano presents N157.1b 2019 Appropriation Bill to Anambra Assembly

Obiano presents N157.1b 2019 Appropriation Bill to Anambra Assembly

Obiano presents N157.1b 2019 Appropriation Bill to Anambra Assembly

Please follow and like us:

  • 0
  • Share

Geoffrey Anyanwu, Awka

Governor Willie Obiano of Anambra State, on Wednesday, presented the 2019 Appropriation Bill of N157.1 billion to the state’s House of Assembly with a plea for its speedy consideration.

Tagged ‘Budget for sustained Economic Growth and Youth Empowerment’, the 2019 budget estimate was N9.6 billion lower than that of 2018, which was N166.7 billion.

The N157.1 billion estimate is made up of 41.3 per cent recurrent expenditure and 58.7 per cent capital expenditure.

Governor Obiano, while presenting the budget estimate, said it clearly demonstrated his administration’s determination to continue delivering good governance and purposeful leadership to the people.

Noting that Anambra State, under his leadership, has improved tremendously in all indices of development despite dwindling resources from the centre, Governor Obiano said the estimate was created in line with the policy thrusts of; resource planning and data optimisation, increased internally generated revenues, public-private partnership, strategic collaboration and economic diversification and empowerment.

Breaking down the bases and assumptions for the draft estimate he said would be targeting N36 billion from the IGR of  N3 billion monthly, just as it expects a projected annual FAAC of N40 billion as against 2018 figure of N29.7 billion.

READ ALSO: 8,861 athletes for National Sport Festival – Dalung

Others are VAT revenue of NN12.0 billion, Capital receipts, N19.8 billion, Reimbursements from federal government, N26 billion, Personnel coast , N1.66 billion; Total overheads, N2.08 billion and provision of N14 billion in domestic debt financing.

The budget estimate went through first reading done by the clerk of the House, Pius Udo after the Majority leader, Hon Victor Okoye moved the motion and was seconded by Lawrence Ezeudu.

Responding to the governor’s address, the embattled Speaker, Hon. Rita Maduagwu, assured Governor Obiano and  the people of the state that the lawmakers would immediately commence deliberations on the 2019 budget.

She, however, called on Ministries, Departments and Agencies to be ready for the bilateral budget discussion immediately to ensure early passage of the budget, possibly before the Christmas break.

Speaking to newsmen shortly after the presentation, the Senior Special Assistant to Obiano on Legislative and Legal Matters,  Chief Edozie Ezeugwa said the budget was based on consolidation, with Education having the largest chunk of N11.9 billion because according to him, the state needed to be where it used to be academically instead of sliding.

Ezeugwa further said that Obiano’s administration would also continue to focus on infrastructural developments, why it would maintain its economic policies that would better the lives of the people of the state.

Facebook Comments

Please follow and like us:

  • 0
  • Share

Leave a Reply