Anambra Headline Local News Nigeria

Obiano presents N141.97bn as Anambra’s 2022 budget

Governor Willie Obiano of Anambra State has presented a budget proposal of N141.97 billion to the State House of Assembly for approval.

Presenting the 2022 Appropriation bill at the floor of the house, the governor said the budget will sustain past performance and ensure the state maintained its status as a business hub and investment destination, hence the bill is tagged “budget for continuity, consolidation and economic prosperity,”. 

According to the Governor, a total of N81.5 billion will be spent on capital expenditure, while N60.9 billion is for recurrent expenditure, with the estimate premised on the crude oil price benchmark of $50 per barrel.

He said expected revenue from Value Added Tax is N19.8 billion, while other capital receipts is put at N23.38 billion.

Gov Obiano explained that the Internally Generated Revenue (IGR) is projected at N3.35 billion monthly and N40.36 billion annually for 2022 compared to N3 billion monthly and N36.6 billion annually for last year. 

On personnel expenditure, the Governor said N1.8 billion monthly would be spent for salaries and wages, while total overhead is estimated at N1.98 billion.

Meanwhile, the 2021 budget which stood at N143.65 billion is higher than 2022’s budget which stands at N141.97 billion.

Reporting by Onyinye Co; editing by Muzha Kucha