Skip to main content

Capital projects get 73.5% of Anambra’s ₦4bn 2024 budget

Giving a breakdown of sectoral allocations as a percentage of capital expenditure, Nnake said the Administrative Sector would take 5.5%.

Anambra plans to spend 76.5 per cent of its ₦4.1 billion 2024 budget on capital projects.

Commissioner for Economic Planning, Mrs Chiamaka Nnake, made the declaration in Awka on Saturday while giving the budget breakdown.

She explained that ₦313.9 billion of the budget would go to capital projects as proposed to the House of Assembly by Governor Chukwuma Soludo on Nov. 21.

Nnake noted that the 2024 proposal for capital projects showed a remarkable 80 per cent increase over what was obtained in 2003 when ₦163.5 billion of the ₦259 billion budget went to capital projects.

She noted that capital projects accounted for 63.1 per cent of the 2023 budget.

The commissioner told newsmen that recurrent expenditure would gulp ₦96.2 billion in 2024, a slight increase of 8 per cent over the 2023 estimate of ₦95.5 billion.

The 2024 budget, she said, had a deficit component of ₦120.8 billion.

“Recurrent expenditure accounts for 23.5 per cent of the 2024 budget.

“From the recurrent expenditure of ₦96.2 billion, salaries and allowances will take 30.3 per cent; social benefits, 16.7 per cent; overhead 38.2 per cent and others 15 per cent,’’ she explained.

Giving a breakdown of sectoral allocations as a percentage of capital expenditure, Nnake said the Administrative Sector would take 5.5 per cent, while, Economic Sector would take 76.5 per cent.

Law and Justice Sector would take 2.2 per cent, while the Social Sector would take 15.9 per cent, she added.

She said the Ministry of Education would get ₦20 billion while that of Health would get ₦16.7 billion.

The Ministry of Culture, Entertainment and Tourism gets ₦10 billion; the Ministry of Information gets ₦1.5 billion; the Ministry of Youth Development gets ₦4.1 billion, while the Ministry of Transport gets ₦5.4 billion.

The Ministry of Sports would get ₦1.7 billion; the Ministry of Women Affairs would get ₦1.5 billion; the Agriculture would get ₦2 billion, and the Information and Communication Technology Agency would get ₦2.8 billion.

Ministry of Housing would get ₦10.5 billion for the completion of the Government House and commissioners quarters and the construction of an Old Peoples Home.

Ministry of Works and Infrastructure would get ₦141 billion for the completion of ongoing and new road projects.

Nnake also said ₦2.5 billion would be spent on urban regeneration, while ₦44 billion would be spent on an airport, industrial cities, new cities, branded hotels and others.

The Ministry of Power and Water Resources get ₦8.2 billion to revamp urban water schemes while the Ministry of Budget and Economic Planning would get ₦2 billion.

Anambra’s 2024 budget is christened: “Budget of Acceleration’’.

ridoola.blogspot.com.ng
Labels:

Comments

Post a Comment

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...
Post a Comment
Read more

Family Homes Funds, TETFund & Private Investors Lead National PPP Drive for Renewed Hope Student Housing Projects

The Renewed Hope Student Housing Project is a Public Private Partnership initiative of His Excellency Bola Ahmed Tinubu GCFR that is set to improve the living standards and revitalize infrastructure across Tertiary Institutions in the country with a plan to deliver 38,400 world class student hostel bed spaces across a total of 24 locations: 12 Universities, 6 Polytechnics & 6 Colleges of Education. The Renewed Hope Student Hostel Project in each of the 24 locations will boast 1,600 bed spaces, 400 ensuite rooms with study table and chairs, 4 reading rooms, common room, cafeteria & restaurants, laundromat, grocery shops, salons, public toilets etc.  Family Homes Funds Limited (FHFL), in partnership with the Federal Government of Nigeria, the Tertiary Education Trust Fund (TETFund) and Africa Plus Partners Nigeria Limited is set to deliver on Mr. President’s promise to transform student accommodation nationwide through the Public Private Partnership (PPP) Renewed Hope Stude...
Post a Comment
Read more

NYSC Mobilisation & Academic Standards – Raising quality or adding pressure on students?

On September 29, 2025, President Bola Ahmed Tinubu approved a reform linking the National Youth Service Corps (NYSC) mobilisation process to the National Policy for the Nigeria Education Repository and Databank (NERD). By invoking Sections 2(4)(4) and 16(1)(C) of the NYSC Act, Tinubu stated that no graduate, whether from a Nigerian or foreign institution, will be mobilised for or exempted from NYSC without proof of compliance with the NERD policy. In a common man's understanding, the Federal Government has announced that Nigerian students must now submit their final-year projects or thesis before they can be mobilised for the National Youth Service Corps (NYSC). This policy aims to improve academic standards, ensuring that no student skips essential academic requirements before entering the NYSC scheme . On the surface, this sounds like a laudable idea, but a deeper look reveals a different reality. In many universities, students are allowed to graduate and mobilised for NYSC  ...
Post a Comment
Read more