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The House of Representatives on Wednesday repealed and enacted the Appropriation Act, 2024, amounting to N35.06tn, to address possible legal gaps in the extant law. Of the total sum of N35.06tn, N1.74tn is for statutory transfers, N8.27tn for debt service, N11.26tn for recurrent (non-debt) expenditure, while N13.77tn is for contributions to the development fund for
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Anambra State governor, Prof. Chukwuma Soludo has presented a budget estimate of N607 billion for the 2025 fiscal year to the State House of Assembly. The governor, while presenting the budget estimate tagged ‘Changing Gears 2.0’, said while politicians are focusing on politics, his government is busy executing projects. The governor was obviously referring to
Soludo presents N607bn 2025 budget proposal to Anambra Assembly
Anambra State governor, Prof. Chukwuma Soludo has presented a budget estimate of N607 billion for the 2025 fiscal year to the State House of Assembly.
The governor, while presenting the budget estimate tagged ‘Changing Gears 2.0’, said while politicians are focusing on politics, his government is busy executing projects.
The governor was obviously referring to the Anambra State governorship election which is billed to hold in November 2025.
Soludo said: “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 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 his administration, with at least 70 percent of the budget allocated to the 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 added.
Commissioner for Budget and Economic Planning, Chiamaka Nnake who spoke to journalists during the budget breakdown said the government is also developing four heritage sites in the state.
She said: “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.
“We have also prioritized security, even though I may not be able to disclose to you all that we are doing in that area, but a lot is currently going on.”
Soludo presents N607bn 2025 budget proposal to Anambra Assembly
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