Sunday, February 5, 2023
MARKET UPDATE
Advertisement

TheCable

Advertisement
Cable Ads

Soludo signs 2022 revised budget, borrows N100bn to fix ‘critical’ infrastructure

Soludo signs 2022 revised budget, borrows N100bn to fix ‘critical’ infrastructure
July 22
12:44 2022

Chukwuma Soludo, governor of Anambra, has signed the 2022 revised budget of N170 billion into law.

A revised budget means a budget through which major changes are made in respect of receipts or payments for which either no provision is available or the provision available is inadequate in the current year’s budget.

Aburime Christain, press secretary to the governor, disclosed this in a statement on Friday.

Soludo said that the budget fell short of N250 billion estimates for building critical infrastructure in the state.

Advertisement

Soludo further said though the resources at the government’s disposal were abysmally lean and earnings from the oil sector were so low, his administration would bridge the deficit through multiple strategies, including cutting expenditure and a prudent procurement process.

He also appreciated the approval and understanding of the state assembly members in carrying out the borrowing proposal.

He said the approval of the N100 billion borrowing plan would boost the effective execution of critical infrastructure.

Advertisement

“Not all the borrowed money will be spent this year; it will be re-fenced and used for critical infrastructure development, particularly in building roads, bridges and others,” the governor said.

“There will be absolute prudence in making sure the people of Anambra get value for the money borrowed and every kobo judiciously used to create wealth.

“My administration is currently cleaning up the state wage bill and the payroll system.”

He further commended the Anambra lawmakers for being diligent, responsible and responsive, adding that there should be a stronger synergy between the legislature and other arms of government.

Advertisement

“There were no underhand dealings in signing the budget, rather the process was conducted with integrity, patriotism and responsiveness,” he added.

The governor also thanked the people of the state for their support and sacrifices through tax payments and other civic duties.

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment