Governor Peter Obi of Anambra State has presented a budget proposal of N67 billion for the 2010 fiscal year to the State House of Assembly which is N8.534 billion or 11.3% less than the 2009 budget.
The expenditure profile of the budget christened “People’s budget for integrated development 111,” showed that N39.508 billion is for capital projects, while N27.492 billion is for recurrent items.
On the capital estimate, the economic sector has the highest single allocation of N19.84 billion or 50.22 %, followed by the environmental sector, with N7. 628 billion or 19.31%. General administration has N6.553 billion or 16.59 %, while social sector has N5. 487 billion or 13.89 %.
Under the economic sector, the highest single capital allocation of N12.8 billion went to roads and bridges, while finance and investment followed with N3.04 billion. Others are education – N2. 891 billion; health – N1.218 billion; environmental development, sewage and drainage – N2. 08 billion; finance and investment – N 3. 04 billion; housing development- N2.494 billion; commerce, industry and tourism – N1.6 billion; rural electrification – N1.06 billion; water supply and resources – N1.44 billion and lands – N1.205 billion.
According to the Governor, the state’s expected projected revenue earning of N30 billion, is made up of Internally Generated Revenue of N12 billion and state’s share from the federation account, N18 billion.
The total recurrent expenditure of N27.492 showed a decrease of 1.3 % over that of 2009. The breakdown of the recurrent expenditure is made up of consolidated fund charges of N7.138 billion, personnel cost of N11 .133 billion, overhead cost of N7.206 billion and subvention to parastatals and tertiary institutions, N2.015 billion.
Obi said that major projects to be executed within the period includes the completion of on-going road projects and award of new contracts in the urban towns of Onitsha, Awka and Nnewi.
Others are the completion of the second phase of the State Secretariat complex by the first quarter of next year, completion of some buildings at the new Anambra State University Teaching Hospital and upgrading of facilities at the Ekwulobia General Hospital to solve the problem of accreditation.