Anambra Budgets N110.8bn For 2013

| December 19, 2012 | 0 Comments

Anambra State Governor, Mr. Peter Obi yesterday presented an appropriation bill of N110.890 Billion for 2013 fiscal year to the State House of Assembly. The amount represents an increase of 33.28 percent over the budget of the out-going year, which was N 83.200 billion.

The budget christened: “Sixth Budget of Integrated Development”, has N70.895 billion  for capital expenditure and N39.995 billion for recurrent expenditure.

While presenting the budget estimate, Governor Obi stated that the state revenue earning for the fiscal year is projected at N66.500 billion, the bulk of which would come from the state share of federation account amounting to N54.000 billion, representing 81.20 percent, while N12.500 billion, representing 18.80 percent is expected from the Internally Generated Revenue.

He said that emphasis would be on poverty reduction, while prioritisation of projects and programmes was the guiding principle in allocation of funds to each sector and sub-sector.

Governor Obi explained that the budget reflects the critical development needs of the people of the state and is anchored on the need to intensify the on-going reforms in the public financial sector.

According to him, going by sectoral allocation, the General Administration, with N26.836 billion  comes first; followed by economic sector, with N22.966 billion; the social sector, with N13.562 billion while the Environment Sector was allocated N7.531 billion.

The Governor explained the highest allocation to economic sector was borne  out of the  capital intensive nature of its component sub-sectors such as Land Transport (N16.172 Billion); Education (N10.224 Billion); MDGs programme and projects across selected sub-sectors (N9.777 Billion); Finance and Investment (N3.060 Billion); Environmental Development, Sewerage and drainage (N2.483 Billion), Water Supply and Resources (N2.470 Billion); Housing and Urban Development (N1.407 Billion).

Governor Obi said that Government would target constructing at least 100 kms of asphalted roads with drains and culverts in 2013. “We shall continue to ensure that all communities are linked up to further boost socio economic activities,” he said.

On housing, the Governor said the state intended to partner with the private sector in providing more residential accommodation to the people.

 And to sustain the policy of his administration in making the state attractive to industrialists, the Governor said the state government would continue to improve the business climate while microfinance credit would be provided to viable financial institutions for onward-lending to small and medium scale businesses within the real and productive sectors of the economy.

 

Culled from :Here

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