Soludo Presents 2025 Budget Of N606 Billion. Appropriates N42 Billion For Security

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Soludo Presents 2025 Budget Of N606 Billion. Appropriates N42 Billion For Security 


NKIRU NWAGBO


Gov Charles Soludo of Anambra on Tuesday presented the sum of N606 billion as appropriation for the year 2025 to the Anambra state House of Assembly.


Following the security challenges in the state the sum of N42 Billion was appropriated for security aimed at giving bite to the fight against insecurity in the state.


A break down of the security budget indicates that the sum of N 1.2 billion was appropriated for the 2024 while for the year 2025 the sum of N2.7 Billion was appropriated.


Similarly the budget for the governor's security vote was increased from N17  Billion in 2024 to N 25 Billion for 2025 .


According to Soludo while presenting the budget; 

"On November 21, 2023, I was here to present the 2024 Anambra State Budget entitled “Changing Gears: The Transformation Agenda Begins”, which you passed into law"


"We presented a modest budget of N410 billion for the fiscal year 2024, compared to N259 billion for 2023, which reflects an increase of approximately 57.8%. Recurrent expenditure accounted for N96.2 billion (23.46%), while capital expenditure totaled N313.9 billion (76.54%)"

"The proposed budget size is N606,991,849,118 for the fiscal year 2025. Compared to the 2024 budget of N410,132,225,272, this represents a 48.0% increase. Recurrent expenditures account for N139.5 billion (YoY growth of 45.0%), while capital expenditure is N467.5 billion (YoY growth of 48.9%). The Capital Budget constitutes 77% of the total budget size, while recurrent expenditures account for 23% (the same ratios as for the 2024 budget)"

"The budget deficit is estimated at N148.3 billion (24% of the budget compared to 30% in the 2024 budget)" 

"As in the 2024 budget, the deficit is expected to be funded through revenue growth or borrowing from financial institutions. So far in both 2023 and 2024, we did not borrow to finance budget deficits"

"Depending on the execution in 2025, we may still not borrow to fund the deficit.  Relative to 2024, several key sectors are seeing significant increases: the administrative sector by 45.5%; the Economic sector by 40.1%; the Judiciary sector by 51.3%; the social sector by 82.7%; Education by 101.4%; Health by 57.1%; and Infrastructure investment by 38.9%"

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