Anambra State Governor, Chukwuma Soludo, has signed the State 2025 Appropriation Bill of N607 billion into law.
Speaking during the event at the Governor’s Lodge, Awka, on Monday, Soludo expressed the confidence that the budget would catalyze 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.
The State House of Assembly last Thursday passed the 2025 budget of N607 billion into law.
The governor appreciated 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.
DAILY POST recalls 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.
According to the budget projections, the Capital expenditure constitutes 77 per cent of the total budget size, while the recurrent expenditure accounts for 23 per cent.
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 per cent increase over the budget of 2024 which was N410 billion.