12th July 2024
Business & Economy Eastern News News

Anambra Assembly passes budget of N137.1bn for 2020

Anambra Assembly passes budget of N137.1bn for 2020

Agency Reporter

The Anambra State House of Assembly on Friday passed the state’s 2020 Appropriation Bill of N317.1bn for 2019.

The approval came more than 28 days after Gov. Willie Obiano had presented the 2020 appropriation bill of N137.1 billion on Sept. 26 to the House of Assembly.

The passage followed the adoption of the report and recommendations of the House Committee on Budget Finance and Appropriation, headed by  Mr. Obinna Emeneka (Onitsha East).

The budget totaling, N137.135,743,439 billion has  N78, 363,003,525 billion for capital expenditure, translating to 57 percent of the budget, while N58, 772,739,914 billion or 43 percent is for recurrent expenditure.

The House approved the sum of N137,135,743,439 billion budget size as presented by Obiano.

“After scrutiny, we recommended that the budget size be retained except for some little adjustments in some ministries and agencies.

The Speaker of the House, Mr. Uche Okafor, commended Emeneka and members of his committee for thorough scrutiny of the budget.

“That a bill for a law to provide for the sum of N58,772,739,914 from the Consolidated Revenue Fund for recurrent expenditure and N78,363,003,525 from Development Fund for capital expenditure thereby totalling a budget size of N137,135,743,439 billion for the services of the government of Anambra State of Nigeria for the year ending, 31 December, 2020 and for related purposes, be passed into law,” Okafor said.

The House passed the bill Okafor had conducted a voice-vote on each of the allocations for ministries, departments, and agencies.

Okafor directed the Clerk of the House, Mr. Pius Udoh, to send a copy of the bill to Obiano for his assent into law.

The News Agency of Nigeria (NAN) reports that the 2020 budget is N20 billion lesser than that of 2019 which stood at N 157.1 billion.

–  (NAN)

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