Soludo presents revised draft budget of N170 billion, says inherited red account

Governor of Anambra State, Prof. Charles Soludo has presented a revised draft budget of N170 billion for 2022 to the State House of Assembly for approval.

Soludo who presented the revised draft budget yesterday said the purpose was to reflect current realities, challenges, priorities of the new administration and the needs of residents in Anambra.

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He said that the budget was made up of N108 billion in capital expenditure, accounting for 64 per cent compared to 57 per cent previously and N61.3 billion in recurrent expenditure, translating to 36 per cent compared to 43 per cent in the previous budget.

Soludo said that N19 billion would be spent on personnel costs while N23 billion would be spent on overheads.

The breakdown indicated that the Ministry of Works has the highest allocation, from N23 billion in the previous budget of N54 billion, followed by healthcare, which was reduced from N4.4 billion to N2.9 billion.

Ministries of Agriculture and Education were allocated N1.5 billion and N1.1 billion respectively, while Youth Development and Transportation got N2.4 billion and N1.6 billion respectively.

Ministry of Power and Water Resources got N2.3 billion while the Ministry of Culture, Entertainment and Tourism got N2.7 billion.