Anambra State Governor, Prof. Chukwuma Soludo yesterday presented a budget proposal of N757 billion to the state house of assembly for approval for 2026 fiscal year.
Giving a breakdown, the governor said the budget was made up of N595.3 billion capital expenditure, accounting for 79 per cent of the total budget size, while N161.6 billion was allocated for recurrent expenditure, translating to 21 per cent of the total budget size.
The governor said the budget has a deficit of N225.7 billion, which is expected to be financed through hybrid funding options, public–private partnerships, improved internally generated revenue, concessions and support from financial institutions.
“I present to you the proposed 2026 budget, totalling N757,884,487,705. Compared to the 2025 budget of N606.99 billion, this represents a 24.1 per cent increase.
“We recorded over 60 per cent budget performance in 2025. Despite it being an election year, we remained focused and in execution mode.
“The 2026 budget framework is designed to drive growth across all sectors. We remain committed to responsible fiscal management, with no borrowing for consumption.
“I want to assure you that every kobo will be prudently utilised to maximise value for the people of Anambra and we will continue to lay the foundation for the prosperous, liveable and smart homeland we envisioned,” he said.
Soludo said the proposed budget is tagged- ‘Changing Gears 3.0: Solution Continues’, reflected intensified focus on the execution of his administration’s transformative agenda.
THISDAY reports that last year’s budget was N606 billion, with N151 billion difference, and 24.1 per cent increase.
Meanwhile, the Commissioner for Budget and Economic planning, Mrs Chiamaka Nnake during a press conference to breakdown the proposed budget said it will be financed through federal and internally revenue.
She lamented that the Anambra State government isn’t doing as much as it should be doing in internally generated revenues, but is more concerned about ensuring that it’s taxes are well structured to avoid abuse.
She added that: “As at October, our 2025 budget has performed up to 61 percent. Considering that it was an election year and we were into electioneering, you will know that we performed well.
“Despite the election, works went on and asphalting of roads continued even after the election all through and that is impressive. Last year we did 71 percent in budget performance, so this year I’m expecting that we will do better, if not for anything, we should be able to do 75 percent by December 31.”
David-Chyddy Eleke
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