Anambra State Governor, Chukwuma Soludo on Monday signed the State 2025 Appropriation Bill of N607 billion into law. Speaking during the event at the Governor’s Lodge, Awka, Soludo expressed optimism that the budget would catalyse change in the state in the coming year.
“With this signing, Anambra State will be ready to begin the journey of implementing the 2025 budget with effect from January 1, 2025″, he said.
He thanked the Speaker of the State House of Assembly, Dr Somtochukwu Udeze, and all members of the assembly for their cooperation and commitment, which ensured the expeditious consideration and passage of the budget.
Recall that the budget size is N606,991,849,118 for the fiscal year 2025. While the recurrent expenditures account for N139.5 billion, capital expenditure stood at N467.5 billion.
The Capital expenditure constitutes 77% of the total budget size, while the recurrent expenditure accounts for 23%. The budget had a deficit of N148.3 billion, which would be raised from revenue growth or borrowing from financial institutions.
The budget tagged ‘Changing Gears 2.0’, had 48% increase over the budget of 2024 which was N410 billion.
