2020: Obiano Presents N137.1b Appropriation To State Assembly

KINGSLEY EZEKWELU 

The Executive Governor of Anambra State, Chief Willie Obiano, has presented a draft appropriation of N137.1 billion for the 2020 fiscal year to the Anambra State House of Assembly for consideration and approval.

The estimate has a proposed Capital expenditure of N78.3 billion and a Recurrent Expenditure proposal of N58.69 billion, with major spending targeted in the areas of Education, Health, Agriculture, Youths Empowerment and Support to MSMEs. It represents a 20 billion Naira reduction from the state’s 2019 budget which was N157.1 billion.

Presenting the budget, Gov Obiano said the State recorded over 83 percent in the implementation of the 2019 budget, adding that the New Year’s draft aims to accelerate industrial development and youth’s development.

The Speaker of the Assembly, Hon. Uche Okafor, observed that presenting the budget early will enable thorough bilateral budget interactions with Ministries, Departments and Agencies.

This draft estimate was majorly predicated on crude oil bench price of 55 Dollar per barrel; annual Federal Allocation of 43.5 billion Naira, annual Value Added Tax of 15.5 billion Naira and annual IGR of 30 billion Naira.