October 17, (THEWILL) – The Anambra State Government has said that it will spend the sum of N141.9 billion in the 2022 fiscal year. The funds are to be sourced from federal allocations, grants and internally generated revenue.
This development was announced last Thursday by Governor Willie Obiano during the presentation of the annual budget for 2022.
Governor Obiano described the budget as a “budget of continuity, sustainability and development of a new Anambra” during a special plenary held by members of the Anambra State House of Assembly at the Assembly complex in Awka.
The budget, which is the last one to be presented by the governor in his eight years in office, comprised the sum of N60.9 billion for recurrent expenditures, representing 43 percent of the total budget cost, while N81 billion is meant for capital expenditure, representing 57 percent of the overall budget cost.
Another major component of the budget is to the effect that the projected revenue to be generated from the internal revenue sources stands at N3.35 billion monthly and N40.36 billion for 2022.
It should also be noted that capital receipts, including grants and other FAAC transfers are estimated at N23.38 billion,while personnel costs are expected to take N1.8 billion monthly and N21.67 billion for the year, representing an increase in the figures for 2021.
Obiano had during the budget presentation listed some projects, which were described as legacy projects. They include the Anambra State International Cargo and Passenger Airport in Umueri, which is scheduled to begin operation later this month, the International Conference Centre, designed to accommodate 10,000 persons at a time and the Awka City Stadium project.
With the conclusion of the budget presentation, the entire estimates were submitted to the House Speaker for scrutiny by the House of Assembly members at the end of which an approved version will be sent to the governor for his assent, to give it validity.
About the Author
