WRITTEN BY EMEKA ARINZE
On Thursday last week, Governor Willie Obiano made history again by the early presentation of the 2018 Budget estimate to the Members of the Anambra State House of Assembly.

It is Historic in the sense that the plan is the first meaningful step towards consolidation of previous performances to transform Anambra into a hub for business and investments.
The proposed size of the fiscal plan, christened “Budget for Value-for-Money, Economic Diversification and Job Creation”, is one hundred and sixty-six point nine billion naira, representing a forty-seven per cent increase on the 2017 budget. The aim of the document is to build a greater tomorrow. This expansionary budget also illustrates the state government’s resolve to continue to deliver the dividends of good governance to Ndi Anambra
Of the total sum, the state plans to spend sixty-three point nine billion naira on Recurrent Expenditure and one hundred and three point one billion naira on Capital Expenditure. It also highlights the significant infrastructural development expected in 2018.
The budget will be financed through Federation Account with the projection of crude oil benchmark of forty-three dollars per barrel and an average daily production of two point one million barrels per day. Another source of financing the budget will be Value Added Tax, Internally Generated Revenue, IGR, projected at two point five billion naira monthly compared with the 2017 run rate of one point three billion naira monthly. To achieve this, the government expects to aggressively focus on growing its tax database, optimizing its IGR windows while eliminating leakages through the deployment of technology. This is commendable, especially when it is noted in the plan that there will be no increases in taxes & levies.
Other sources are Grants and Counterpart funds; Capital Receipts, comprising concessionary debt financing for social sectors; refunds from Federal Government for works done on Federal roads and Paris Club payments. Of the recurrent expenditure, Personnel costs are estimated at twenty-one point six billion naira, indicating about one point two billion naira increase from the 2017 budget. The figure will accommodate new hires into the civil service, replacement of retired teachers, promotions and appointments.
On capital expenditure, Anambra State government, in 2018, plans to spend a whooping one hundred and three point one billion naira to drive its policy thrusts of “Value-for-Money, Economic Diversification and Job Creation”. Suffice it to say that more roads & infrastructure will be provided, while the government has also budgeted over one billion naira to procure earthmoving equipment and support on-going reconstruction and rehabilitation of rural/community roads. It equally made provision for the installation of more street lights and Traffic Lights on strategic roads to reduce traffic congestion.
Other sectors that gulped huge capital investment are Agriculture, education; Youth Empowerment & Development; Health; Small & Medium Enterprises Development; Water Resources and Public Utilities as well as Community Social Development Program. There are plans in 2018 to develop many hectares of land across the state, procure agro inputs, including seedlings and fertilizers for farmers. Funds are to be expended also on the improvement of infrastructures in the education sector
Employment will be provided for youths too in 2018, while the state government plans to boost Anambra State Universal Health Insurance Scheme. In addition, the government will develop a modern all-inclusive SME Industrial Parks in the state as well as invest heavily in Rural Water Rehabilitation Scheme. The Community-choose-your-project initiative will be taken to the next level next year with the budget of seven point five billion naira for the second phase in the 181 communities in the state.
Governor Obiano, in presenting the draft, promised to carefully assess all activities and make difficult trade-offs to ensure his regime focuses solely on implementing projects and programs that would provide commensurate value to Ndi Anambra. According to him, the underlying principle shall be… “Doing Even More with Less”, assuring that there would be a ZERO tolerance for corruption and corrupt practices as any government official found wanting would face the full weight of the law.
No doubt, this is a budget of hope. The thirty wise men are therefore appealed to give the fiscal plan accelerated consideration and eventual passage for timely take off of implementation.

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