By Vincent Ujumadu
THE Anambra International Cargo and Passenger Airport expected to be completed soon is to gulp additional N10 billion as Governor Willie Obiano Thursday presented a budget of N141.9 billion for the 2022 fiscal year to the State House of Assembly for approval. This is the last budget for the governor who will complete his tenure in March next year.
The budget estimate was about N4 billion higher than the N137.1 billion for 2020, which was later scaled down to N114.9 billion due to COVID-19 pandemic
Tagged the budget “Continuity, Sustainability and Development of a New Anambra”, Obiano said it would help to sustain the achievements of his administration in the last seven years and ensure that the state maintained it status as a business hub and investment destination in the country.
The budget provided N81 billion for capital expenditure, which is 57 per cent and N60.9 billion for recurrent expenditure, which is 43 per cent.
According to him, the budget was premised on the crude oil price benchmark of US50 dollars per barrel.
The governor said the expected revenue from Value Added Tax is N19.8 billion, while other capital receipts would be N23.38 billion, adding that N40.36 billion was also expected to be generated through Internally Generated Revenue (IGR).
Details showed that N21.67billion would be spent as salaries and wages, while N18.3 billion would go to group life insurance, loan, pensions and gratuities of retirees, just as N23.78 billion would be spent on overheads.
He said that N13.4 billion was allocation for domestic debt financing, comprising of single-digit concessionary programme lending for interventions in healthcare, social investments, agriculture, manufacturing and youth entrepreneurship.
Further breakdown showed that road, works and infrastructure has the highest allocation of N23 billion, followed by healthcare with N5.8 billion.
Environment and education sectors were allocated N3.42 billion and N3.23 billion respectively, while agriculture and youth empowerment and the creative economy got N3 billion and N2.08 billion respectively.
Also, water resources and public utilities got N2.1 billion while community social development projects got N1.4 billion, while medium enterprises development got N1billion. N700 million was allocated for the completion of Awka City stadium.
Receiving the budget, the Speaker, Hon Uche Okafor, expressed readiness to continue to partner with the executive arm of government for peoples oriented projects in the state.
“As this is the final lap in the budgetary cycle of this administration, I assure Your Excellency that the House will give this budget expeditious consideration and will pass it as soon as possible,” the Speaker said.
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