The Anambra State Government has proposed a budget size of N140.8bn for the 2021 fiscal year.
The State Commissioner for Economic Planning, Budget and Development Partners, Mr Mark Okoye, stated this on Wednesday during Stakeholders Consultative Forum for 2021 draft annual budget, held in Awka.
He said, “The 2021 draft annual budget expenditure outlay, other things being equal, is estimated at N140.8bn. The increase in the budget size is N25.9bn from the 2020 revised budget of N114.9bn, representing an 18.3 per cent increase.”
Okoye said that personnel costs were estimated at N18bn for the fiscal year 2021 compared with 2020 revised budgeted figure of N17.4bn.
He added, “This figure accommodates new and important hires into the civil service, such as the replacement of retired teachers, promotions and a projected salary increment in line with the new minimum wage.
“Total overheads are estimated at N22bn for the fiscal year 2021. This figure accommodates the provision of subvention to new MDAs and other associated costs. Social Benefits and Contributions including pensions, gratuities and group life insurance, are projected at N12bn in 2021 compared to N10.4bn as revised in the 2020 budget.
“Total budget revenue for the fiscal year 2021 is estimated at N130bn broken into N46bn for statutory allocation; N20bn for Value Added Tax; N36bn for Internally Generated Revenue; N0.68bn for Excess Crude/Other Revenue; N10bn for Grants; N10bn for other Capital Receipts.
For debt financing, Okoye said the State provided N11bn in domestic debt financing, comprising single-digit concessionary programme lending for interventions in Agriculture, Manufacturing and Youth Entrepreneurship.
He said, ‘‘As the 2021 budget will be the last full fiscal budget year it will implement, the state government is prioritizing the completion of critical projects across numerous sectors of the economy. Thus, N15.6bn has been earmarked for the Anambra International Cargo Airport and N18bn for the completion of strategic roads and bridges.”
A further breakdown showed a recurrent expenditure estimated at N52bn, representing 37 per cent of the budget size, while the capital expenditure is estimated at N86.24bn indicating 63 per cent of the budget size which implied that significant funds would be channelled to capital projects in the critical sectors of the economy.
Okoye said in order to reflect the yearnings of the populace in its 2021 appropriation bill, the state government had to interface with stakeholders’ to seek their inputs on the 2021 draft annual budget.
Tribune Online gathered that the forum had in attendance heads of the various state ministries, departments and agencies, the state budget team and representatives from the civil society organizations, including the Manufacturers Association of Nigeria, the State Traders Association, persons living with a disability, youth associations among others.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
The All Progressives Congress (APC) has told a Federal High Court in Abuja, that the Comrade Adams Oshiomhole-led National Working Committee (NWC) was sacked to solve the internal leadership crises rocking the party.
The party also said that immediately the Caretaker/Extraordinary Convention Planning Committee was put in place after the NWC’s dissolution, the crises that had characterised its affairs were laid to rest…Anambra govt budgets Anambra govt budgets
The Emir of Zazzau, in Kaduna State, Alhaji Shehu Idris has died in his palace at the age of 84.
His son, Aminu Shehu Idris, confirmed in an interview with the Tribune Online that his late father who was appointed on 15th February, 1975 and spent 45 years in the throne died on Sunday after a protracted illness…Anambra govt budgets Anambra govt budgets
Post COVID-19: Kano based industrialist tasks FG on economy
A Kano based industrialist, Chief Kalu Ogbonnaya, has advised the Federal Government to take necessary steps to stimulate the nation’s economy to prevent a recession post COVID-19…Anambra govt budgets
and then