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Friday, December 04, 2015

Obiano proposes N101.4bn budget for 2016



Governor Willie Obiano of Anambra State Thursday presented a budget of N101.4bn to the State House of Assembly in Awka, the state capital, reports ITRealms.

Obiano also said that the proposed budget represents a significant decrease of 38 per cent over the current fiscal year’s budget estimate.

The decrease, he said, further stresses the need for prioritization and doing more with less in the 2016, just as works and infrastructure tops his budget witn N30bn.

“In the coming fiscal year, Capital Expenditure is projected at N52.8bn while Recurrent Expenditure will be N48.6bn,” he said, stressing that these figures imply a Capital to Recurrent Expenditure ratio of 52:48 as against 67:33 in the current year. 

Equally, during the 2016 fisca year, Gov. Obiano said his administration will be totally focused and committed to aggressive development of the “Economic Pillars and Enablers.”

Obiano assured he would continue to partner with the private sector to deliver on economic objectives in the areas of agriculture, industry, trade and commerce as well as oil  and gas.

“While our economic enablers will require a great deal of public sector financing and support; we shall not relent in this area,” he assured.

Some key budgetary allocations for Gov. Obiano in 2016 include “ Works & Infrastructure – N30.0 billion;  Education – N3.0 billion;   Health – N2.45 billion; Public Utilities – N1.8 billion; and Agriculture (Rural Development) – N1.02 billion.”

 

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