Maduako Igbokwe I Wednesday, Nov. 22, 2023
AWKA, Nigeria – Anambra State Governor, Prof Charles Soludo has stated that his administration will borrow N120 billion from financial institution to fund 2024 budget deficit.
He also urged Anambra State residents to wake up for revenue payment as the administration will not run with saliva.
This was captured in the 2024 annual budget he presented to Anambra State House of Assembly on Tuesday.
Soludo had on Tuesday presented a budget of N410 billion to the Anambra State House of Assembly for approval.
In the budget Soludo did not specify how much will go to each ministry and parastal.
According to the governor, the budget deficits would be funded through borrowing from financial institutions and internally generated revenue.
“In the proposed 2024 budget, there is a deficit of N120 billion expected to be funded through a facility from financial institution(s)” he said .
The Governor asked every residents to wake up for the challenges.
“Our Internally Generated Revenue (IGR) remains a fundamental challenge. In the 2023 budget, we expected a monthly revenue of N4 billion. So far, we are averaging N2 billion, and we are still projecting N4.2 billion per month in 2024.
This is a wake-up call to all residents of Anambra, and all Ndi Anambra wherever they may live. We can’t build the envisioned livable and prosperous homeland with our saliva.
With the abundant resources that God has blessed Ndi Anambra with, there is literally nothing that we collectively set our minds to that we cannot achieve for our homeland.
“We have the plan and the organization to execute. But we need resources. If each of us pays just 5-10% of our annual income as tax to the state, the Anambra of our dream will be fast-tracked” he said .
According to the governor,the proposed 2024 budget, recurrent expenditure is only 23% while capital expenditure is 77%.
