The Commissioner for Economic Planning and Budget in Anambra State, Hon. Chiamaka Nnake has described the N606.99 billion budget presented by Governor Chukwuma Soludo to the State Assembly as a significant step toward consolidating the government’s industrialization agenda.
Speaking during the budget breakdown, aptly named “Changing Gears 2.0”, Nnake highlighted that the proposed 2025 budget represents a 48% increase from the N410 billion allocated in 2024. The new budget comprises a capital expenditure of N467.5 billion (77%) and a recurrent expenditure of N139.5 billion (23%).
She noted that the budget includes a deficit of N148.3 billion, which is 24% of the total budget. This deficit is expected to be addressed through increased revenue generation or borrowing from financial institutions.
“Governor Soludo’s vision of transforming Anambra from a departure lounge to a destination is fully on course,” Nnake said. She added that the budget allocates 12.7% to administration, 56.6% to the economic sector, 20.9% to the social sector, and 2.9% to the judiciary.
Key Allocations:
Infrastructure Development:
Ongoing and new road projects – N200 billion
New city developments in Awka, Onitsha, and Industrial City – N32 billion
Tourism and Microenterprise:
Leisure and entertainment centers – N10 billion
Microenterprises – N2 billion
Information, communication, and social orientation – N5 billion
Hospitality and Public Infrastructure:
4-star hotel development – N15 billion
New markets – N10 billion
Equipping the new Government House – N5 billion
Innovation and Security:
Completion of the Solution Innovation District – N3 billion
Armored personnel carriers and security equipment – N2 billion
Mass transit systems, including buses and boats – N2.5 billion
Agriculture and Energy:
Oil palm and coconut seedling program – N2 billion
Solar streetlights and government office electrification – N7 billion
Water Supply and Erosion Control:
Urban water schemes – N5 billion
Erosion control initiatives – N2 billion
Education Sector:
Education remains a priority, with allocations including:
Renovation and equipping of smart schools – N11 billion
Student loans and bursaries – N3 billion
Development of institutions – N22 billion
Transport support for schools – N250 million
Healthcare Sector:
Proposed healthcare improvements include:
Construction and equipping of general hospitals – N3 billion
Extension of free antenatal and delivery services – N1 billion
College of Nursing upgrades – N7 billion
Cancer Hospital construction – N5 billion
Standalone trauma center – N1.5 billion
Nnake concluded that the budget reflects Governor Soludo’s commitment to holistic development, emphasizing industrial growth, security, education, and healthcare as critical areas for Anambra’s transformation into an economic powerhouse.
