The Commissioner for Budget & Economic Planning, Ms Chiamaka Nnake has urged Ndi Anambra to watch out for the 2023 budget which shall focus on key deliverable projects.

In company with her was the Commissioner for Information, Sir Paul Nwosu, and Press Secretary to the Governor, Mr Christian Aburime.

The 2023 proposed budget is at a sum of N258,984,875,905 approximately N259 billion. This is compared to the revised 2022 budget of N169.6 billion.

The capital expenditure increased by 51.1% from N108.2 billion in the 2022 revised budget to N163.5 billion, while the recurrent expenditure increased by 55.6% from N61.4 billion to N95.5 billion in the 2023 proposed estimate.

Every budget has its capital and recurrent. The capital expenditure accounts for 63.1% of the budget size while the recurrent accounts for 36.9% of the budget size.

Key infrastructural projects account for 55.4% of the capital expenditure and 35% of the entire budget size.

The composition of the recurrent budget includes; salaries (21.6%) of the recurrent expenditure, social benefits (15.2%), overhead (30.5%), and loan repayment (17.5%) amongst others.

Sectorial allocation covers four broad sectors which include the administrative sector, economic sector, law & justice sector, and social sector.

The capital expenditure within the administrative sector accounts for 6.8% of the capital budget.

The economic sector accounts for 72.5%.

The law and justice sector accounts for 2.1% while the social sector accounts for 15.2% of the capital budget size.

The 2023 budget will highlight key deliverable projects Ndi Anambra can feel, touch, and experience.

Entertainment and Industry has a budget of N7.5 billion.

Under the Ministry of Education, the state Government is revamping the educational system with a budget of N8.4 billion, a mass improvement of N2.2 billion estimated in the budget appropriated in 2022.

The health system has a budget size of N6.2 billion.

The site design and preparation of the industrial city and Export Processing Zone under the Ministry of Works has a budget of N2 billion.

Legal outreach and mass mobilization of Ndi Anambra delivered by the Ministry of Information has a budget of N200 million.

Completion of ongoing road projects and construction of new ones which will be delivered by the Ministry of Works is budgeted at N70 billion.

Urban regeneration for Anambra which shall come up with iconic designs, road mapping, and giving Anambra a facelift is budgeted at N2.5 billion under the Ministry of Works.

For the Ministry of Youths, two key projects shall be delivered; the development of Anambra innovation and business district is budgeted at N1 billion while the Youth innovation and empowerment program is budgeted at N2.5 billion.

Women Affairs shall have a solution-based cooperative for economic empowerment budgeted at N1.5 billion.

For Housing projects; the Government House, Government Lodge, and Commissioners Quarters were budgeted at N4.5 billion.

Sports development is budgeted at N1.5 billion.

In improving the transport infrastructure, the State Government shall revamp water transport with boats and buses for mass transit at a budget of N2.9 billion.

In sustaining security, security gadgets and armored personnel carriers shall be purchased at a budget of N500 Million.

Special intervention projects targeted at oil-producing communities; Anambra is an oil-producing state and based on 5% derivation for 2023 budget is at N500 Million.

Oil palm and coconut seedlings have a budget of N1.5 billion.

Looking towards a 24/7 power supply in the state, N5 billion is budgeted for the power project in 2023.

Revamping the urban water scheme gulps N2 billion in the estimate.

Desilting of drainages is budgeted at N1 billion.

Community Project is budgeted at N2 billion.

Grants to Community Governance are budgeted at N1.2 billion.

Building and deploying a state-owned data center will take a budget of N720 Million.

Lastly, the counterpart funds sustained for 2023 will have a budget of N3 billion.

These sum up to N123 billion, 78% of the capital budget.

HOW WILL THIS BUDGET BE FUNDED

There’s an approved loan of N100 billion expected to be granted to the Anambra State Government before the end of this year.

Statutory Allocation from Federal Government is N101 billion.

IGR is N48 billion.

Capital Receipts are N6.4 billion.

Total revenue is N155.9 billion.