…Infrastructure, Economic Transformation, Human Capital Development, Top List
Governor Chukwuma Charles Soludo has presented the 2025 fiscal year budget of N606,991,849,118 to the Anambra State House of Assembly, in Awka, the State Capital, with a 48 percent increase from the 2024 budget of N410,132,225,272.
Themed “Changing Gears 2.0” with emphasis on acceleration and execution, 70 percent of the 2025 budget is focused on Infrastructure, economic transformation, and Human Capital Development, which remains the kernel of Governor Soludo’s administration.
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 expenditure accounts 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).
In a release signed by Governor Soludo’s Chief Press Secretary, Christian Aburime, the administration may still not borrow to fund the deficit, and 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%.
The statement states that Governor Soludo’s government will continue with the iconic projects initiated in 2024 while introducing new ones. These include the development of three new cities: Awka 2.0, Onitsha 2.0, and a new Industrial City, while the Anambra Mixed-Use Industrial City Master Plan and the railway master plan/feasibility study have been completed.
According to Governor Soludo, his administration will continue to enhance the ease of doing business in the State as articulated during the just concluded second edition of the Anambra Investment Summit (ANinvest 2.0), where 10 elite companies signed Memoranda of Understanding (MOUs) with Anambra State.
Soludo in his plan for 2025, will continue to extend power access to underserved communities, and through a regulatory framework, encourage private sector investment in the Anambra Electricity Market, under the National Electricity Amendment Act of 2023, and expand the state’s water projects considerably.
According to Governor Soludo, human capital will continue, with education and health receiving the pre-eminent attention they deserve. This also includes the expansion of the state’s ‘One-Youth-Two-Skill programme to accommodate more youths for empowerment, and a ‘One Million Digital Tribe’ for digital skill training programme through the Solution Innovation District (SID).
On the budget funding, Governor Soludo explained that the state will be propelled with its mantra of “Doing More with Less,” as it has projected an average monthly revenue of N5 billion, which will result in a total Internally Generated Revenue (IGR) of N60 billion in 2025. This, he affirmed, will be increased through renewed efforts towards revenue generation capacity that will see the Anambra earning less than N10-15 billion monthly.
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