Anambra state governor, Mr. Peter Obi, has presented the 2014 fiscal year budget of N140 billion to the State House of Assembly.
The amount represents an increase of 21.8% of last year’s budget of N110 billion.
The budget is made up of N100.2 billion for re-current expenditure.
Governor Obi said an estimated total sum of N100.5 billion was expected from capital receipts explaining that the budget is targeted at poverty alleviation and the achievement of the millennium development goals in all sectors.
The economic sector has been allocated 42.82% of the total budget, while the social sector takes 14.33%, environment takes 17.21% and general administration gulping 25.64%.
The governor said 72.61% of the budget will come from the state’s share of the federation account while 27.39% is expected from the internally generated revenue.
The Speaker of the State House of Assembly, Rt. Honorable Chinwe Nweabili assured of accelerated passage of the budget.
The proposal has passed the first reading and has been referred to the Finance and Appropriation committees.
