Soludo Presents N607bn Budget Estimate for 2025
Governor Chukwuma Soludo of Anambra State on Tuesday presented a budget estimate of N607billion for the year 2025, to the State House of Assembly.
The governor while presenting the budget estimate tagged: Changing Gears 2.0, at the state Assembly, said while politicians were focusing on politics, his government was busy executing projects.
He said: “From the foregoing, it is evident that there is no stopping our consistent acceleration in a steadfast execution mode. For sure, 2025 is a governorship election year in Anambra State. While politicians will be focusing on politics, we will be intensely and intentionally focusing 100% on the execution of our multi-faceted agenda with a deadline.
“Consequently, we have titled this budget: “Changing Gears 2.0” with emphasis on acceleration and execution. The proposed budget size is N606,991,849,118 for the fiscal year 2025.
“Compared to the 2024 budget of N410,132,225,272, this represents a 48.0% increase. Recurrent expenditures account for N139.5 billion (YoY growth of 45.0%), while capital expenditure is N467.5 billion (YoY growth of 48.9%).
“The Capital Budget constitutes 77% of the total budget size, while recurrent expenditures account for 23% (the same ratios as for the 2024 budget). The budget deficit is estimated at N148.3 billion (24% of the budget compared to 30% in the 2024 budget).”
The governor further said his administration is building upon the iconic projects it initiated in 2024 while introducing new ones.
He said infrastructure and economic transformation as well as Human Capital Development remain the kernel of this administration, and, significantly, at least 70% of the budget is allocated to these sectors.
“We are progressing the development of three new cities: Awka 2.0, Onitsha 2.0, and a new Industrial City. The Anambra Mixed-Use Industrial City Master Plan and the railway master plan/feasibility study have been completed.
“Afreximbank and AFDB remain committed to supporting the development of the Industrial City. We will continue to enhance the Ease of Doing Business in Anambra to ensure the State becomes the preferred destination for investors. We recently concluded the second edition of the Anambra Investment Summit (ANinvest 2.0), where 10 elite companies signed Memoranda of Understanding (MOUs).
“Our vision to turn Anambra into a destination rather than a departure lounge is fully on course. The Solution Fun City, primed to be the biggest in West Africa, is quickly becoming a dream come true and will be commissioned in some weeks to come,” the governor said.
Appreciating the lawmakers for their support and cooperation, the governor described them as strong and progressive partner in his administration’s drive to lay solid foundations for the state as a livable and prosperous smart mega city.
“History will indeed be kind to this 8th Assembly for your commitment, hard work, and productivity,” he added.
Commissioner for Budget and Economic Planning, Hon Chiamaka Nnake while addressing newsmen on budget breakdown, said government had prioritized security with lots being invested in the sector.
She said the government was also developing four heritage sites in the state.
“Government is prioritizing security. Infact, we’re not waiting for 2025 budget to come through; there’s so much of investment currently going on in that sector.
“The Ministry of Homeland Affairs which is one segment of the security outfit had a budget of 1.2bn in 2024, but currently 2.7bn.
“There’s also governors security votes which was 17bn in 2024 budget, but currently 25bn. There’s lot of efforts in improving security in Anambra State.
“We don’t just prepare budget for preparation sake, but we know what we set out to achieve in the 2025 budget, and these are the things we have listed to you,” she added.
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