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Governor Willie Obiano of Anambra, yesterday, presented a budget proposal of N137.1 billion for 2020 to the State House of Assembly for approval.
The breakdown showed that road works and infrastructure had the highest allocation of N22.2 billion followed by education, N8.3 billion.
Obiano, who tagged the budget “Accelerating Infrastructural Development and Youth Entrepreneurship’’ said it would promote agriculture, social infrastructure development as well as enhance job creation.
He said N78.3 billion will be spent on capital expenditure, translating to 57 per cent of the budget, while N58.69 billion or 43 per cent is for recurrent expenditure.
The estimate was premised on crude oil price benchmark of $55 per barrel.
Obiano put expected revenue from Value Added Tax at N15.5 billion, while other capital receipts would be N30 billion.
The governor said N10 billion was projected to come from reimbursement from Federal Government for works done on federal roads out of the amount owed the state, while N17.8 billion would be raised from Internally Generated Revenue (IGR).
On personnel expenditure, Obiano said that N22.82 billion would be spent on salaries and wages, N9.34 billion on pensions and gratuities of retirees, while N22.315 billion would be for overheads.
He said that N16 billion was provided for domestic debt financing, comprising single digit concessionary programme lending for interventions in agriculture, industrialisation, trade and commerce, and youth empowerment.
