Governor Charles Soludo of Anambra State unveiled the ambitious N410 billion 2024 budget, themed ‘Changing Gears: The Transformation Agenda Begins,’ during a presentation to the state House of Assembly.
The budget, signaling the commencement of a transformative agenda, emphasizes a new master plan to foster a thriving and habitable homeland. Comprising N313.9 billion for capital expenditure (77%) and N96.2 billion for recurrent expenditure (23.46%), the budget anticipates a deficit of N120 billion, intended to be covered through financial institution facilities.
Governor Soludo highlighted achievements, citing a notable 66% budget performance in 2023, positioning Anambra as the top southern state for ease of doing business and the second lowest in mortality rate. Addressing challenges, he stressed the significance of increasing Internally Generated Revenue (IGR), revealing a monthly revenue target of N4.2 billion for 2024, emphasizing the pivotal role of tax contributions.
Expressing gratitude for the governor’s transformative initiatives, Speaker Somtochukwu Udeze acknowledged the budget’s reception and pledged expedited consideration. The budget’s substantial increase of N150 billion (57.8%) from 2023 reflects a commitment to consolidating ongoing projects and fostering positive outcomes for Anambra’s residents, particularly teachers, students, and the vulnerable population.