NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Anambra budgets N166.9bn for 2018 •Targets N2.5b monthly IGR

By Ifeoma Okafor, Awka on 01/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 620

•Governor Obiano
•Governor Obiano

Anambra State Governor, Chief Willie Obiano on Thursday presented a budget proposal of N166.9 billion budget for the 2018 fiscal year to the state House of Assembly

The budget, titled "Budget of Value for Money, Economic Diversification and Job Creation", showed that N63.9 billion or 38 percent would be for recurrent expenditure, while N103.1 billion or 62 percent would be for capital expenditure. 

According to the Governor, the budget would operate a deficit of N15 billion after deducting expected revenue estimates for the fiscal period.

He said the budget would highlight the significant infrastructural development expected in 2018, adding that it would leverage on the successful stability in the state’s domestic economy witnessed during the challenging periods of 2016/2017.

His words: “The 2018 budget would be the first meaningful step towards consolidation of previous efforts to transform the state into a hub for business and investments, as well as ensure sustainable development.

“Our continued intervention in roads and bridges will always be a key strategic focus of my administration, and we intend to complete approximately 150 kilometres of roads across the state within the year.

“We are also going to place emphasis on agriculture where we are aiming to sustain the current successes achieved in the last four years by implementing a two-pronged strategy of facilitating private sector and export-driven large scale agro-allied investments; and  empowerment of small scale farmers in the state so as to consequently alleviate poverty and create jobs.

“To achieve this, we have developed the Community Agriculture Land Development Project where we expect to develop over 1,500 hectares of land across the three senatorial zones of the state.

“We shall augment this by allocating over N700 million to the procurement of agro inputs, including seedlings and fertilisers. To support our farmers and to achieve this, we have allocated the sum of N3.8 billion to the agricultural sector.

“To deliver on credible and globally competitive education, we must ensure that this sector is properly funded and catered for. Hence, we are projecting a total capital expenditure of N9.5 billion in education.

“My administration shall also ensure that youth empowerment is a key covenant between us and the people we govern in the 2018 fiscal year. Providing meaningful employment opportunities to our teeming youths is vital towards ensuring the continued socio-economic growth of the state, as well as sustaining the current security narrative in the state.

“The main driver in achieving this would be through the Youth Entrepreneurship and Empowerment Programme where we have allocated N5 billion to empower up to 10,000 youths through vocational, agricultural and artisan training programmes and provision of interest-free start-up capital to commence their businesses.”

In the new budget, road construction and rehabilitation got the highest single allocation of N27.93 billion, followed by education with N9.5 billion.

Poverty alleviation, under which the Choose–Your–Project initiative for communities would be sustained got an allocation of N7.5 billion, while N533 million was voted for local government election in 2018.

The budget will be funded from Federation Account accruable to the state, donor agencies and estimated Internally Generated Revenue of N2.5 billion monthly, which is an increase from the current N1.3 billion monthly.

Breaking down the budget later, the Commissioner for Economic Planning and Budget, Mr. Mark Okoye said the budget had formed part of the package which would ensure Obiano’s promise that the state would be fiscally independent after the next four years of his administration.

The Commissioner said: “With the re-election victory, expectations are high in the state and we intend to re-tune and re-strategise government activities and place more emphasis on export.”

 

Source News Express

Posted 01/12/2017 12:51:10 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Senate summons British firm over $3.3bn oil deal...

Police to declare Dino Melaye wanted

EFCC nabs ‘investor’ for alleged $154,146 scam •Places...

500 women storm Abuja for maiden International Networking...

Edo: Obaseki spoils for action as Ize-Iyamu finally...

Group identifies reason for renewed Boko Haram attacks...

Biafra: Adhere to Ohanaeze’s advice, BSO tells IPOB...

Poll shift: I was not consulted —Jonathan

NCC to expand telecoms services

Army Chief commends NIMASA for combating piracy

Court affirms SERAP’s right to stop ‘double pay’...

Revenue Commission assesses other mineral resources in Bayelsa...

 

Latest News APC group, PDP, SDP, Obasanjo’s CNM, others to form new party Forex: IMF Seeks Unified Exchange Rate Regime Nigeria is playing with fire - IPOB threatens Lagos to unveil new statue of Gani Fawehinmi Few days to LG polls, fire guts Kaduna electoral commission office 2019 Guber: Anioma Nation endorses Okowa as sole candidate Security challenges loom over Buhari’s re-election bid Flood sweeps away 8-year-old girl in Anambra 23 cultists, 15 other suspected criminals in trouble 10 injured as rainstorm wreaks havoc in Delta Kogi recruits 1,800 caterers for school feeding programme Promoters of Alex intensify campaigns ahead of BBNaija grand finale

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,172 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,048 views) Shameless Genevieve Nnaji exposes breasts in public (267,319 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (219,765 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,815 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,733 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,526 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (154,895 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (146,846 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,571 views) Lagos plane crash: Journalist releases victims’ names (136,604 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,322 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,064) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (481) Features (568) Global Business Monitor (262) International (1,920) Interview (149) Live Commentary (28) Love Matters (116) News (34,645) Opinion (915) Pidgin (10) Politics (4,798) Religion (722) Sports (1,483) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement