Obiano presents N115.5b budget to House of Assembly
Governor Willie Obiano of Anambra State yesterday presented a budget of N115.5 billion to the State House of Assembly for 2017 fiscal year .
In the budget tagged ‘Budget for Economic Recovery and Inclusive Growth’, at the floor of the State House of Assembly Awka, Governor Obiano said that out of the amount, the state is to spend N56.6 billion on Recurrent Expenditure, while N59.9 billion is on Capital Expenditure which would reflect significant increase in infrastructural development next year with a view to stimulating economic recovery.
Obiano stated that the 2017 budget package showed 11 percent increase as against the budget of 2016, declaring that it was a bold attempt to lift the state out of the corrosive effects of recession in the country.
He said the budget emphasised “prioritization of a creative means of ensuring impact and effectiveness in a recessional economy and would guide the activities of government in these trying times into a new phase of economic prosperity”.
He emphasized that the 2017 budget was projected on crude oil bench price of $42 per barrel, while it was anchored on the policy thrust of his administration.
Giving the breakdown, Obiano said, works and infrastructure would gulp N24 billion to be focused on completion of on-going contracts awarded by the immediate and current administration in line with the continuity policy promised to Anambra people, reform of government and governance N5.5 billion and agriculture would take N5.4 billion.
In the budget tagged ‘Budget for Economic Recovery and Inclusive Growth’, at the floor of the State House of Assembly Awka, Governor Obiano said that out of the amount, the state is to spend N56.6 billion on Recurrent Expenditure, while N59.9 billion is on Capital Expenditure which would reflect significant increase in infrastructural development next year with a view to stimulating economic recovery.
Obiano stated that the 2017 budget package showed 11 percent increase as against the budget of 2016, declaring that it was a bold attempt to lift the state out of the corrosive effects of recession in the country.
He said the budget emphasised “prioritization of a creative means of ensuring impact and effectiveness in a recessional economy and would guide the activities of government in these trying times into a new phase of economic prosperity”.
He emphasized that the 2017 budget was projected on crude oil bench price of $42 per barrel, while it was anchored on the policy thrust of his administration.
Giving the breakdown, Obiano said, works and infrastructure would gulp N24 billion to be focused on completion of on-going contracts awarded by the immediate and current administration in line with the continuity policy promised to Anambra people, reform of government and governance N5.5 billion and agriculture would take N5.4 billion.
Education ,water resources/rural development he said were allocated N3.4 billion and N3.2 billion respectively.
The Speaker of the State House of Assembly, Mrs.Rita Maduagwu assured that the 2017 Appropriation Bill would be given accelerated passage and called on Ministries, departments and agencies (MDAs) to be ready for their budget defence as the House Committee on Finance and Appropriation as well as other committees would commence the budget defence soon.
