Obiano
Anambra State Governor on Tuesday presented a budget proposal of N115.5 billion for 2017 to the Anambra State House of Assembly.
Willie Obiano
Obiano said a total of N58.9 billion would be spent on capital projects, while N56.6 billion would go to recurrent expenditure.
This, he noted, represents a ratio of 51 to 49 respectively just as the previous year.
He said the estimate was premised on the basis of N305 per dollar exchange rate and a projected price of $42 per barrel of crude oil.
The governor said that N40.2 billion was projected to come from the Federation Account while N20.4 billion would be raised from Internally Generated Revenue (IGR).
Obiano said that a sum of N12 billion was projected to come from development partners as counterpart fund.
On personnel expenditure, he said that N17.7 billion would be spent as salaries and wages, N10.2 billion would be spent on pensions and gratuities of retirees, while N18.4 billion would be spent on overheads.
Obiano said the state government would revamp the more than 160 moribund water schemes in Anambra. He further said that the state would spend N610 million on the 61 major markets in the area to enable traders to operate in a healthy and friendly environment.
The speaker of the House, Rita Mmaduagwu, admitted the document for deliberations following the motion moved by the Majority Leader of the House, Victor Okoye.(NAN)
