Anambra State is expected to enjoy massive and robust road construction and reconstruction in 2019. This follows a lion allocation of twenty-two point four billion naira to that sector by the Anambra state government in its 2019 fiscal estimate. The proposed size of the budget, christened, ‘‘Budget for Sustained Economic Growth and Youth Empowerment’’, which was presented to the State House of Assembly by Governor Willie Obiano last week, is one hundred and fifty-seven point one billion naira. Capital projects will gulp ninety-one point eight billion naira or fifty-eight point seven per cent of the sum, while sixty-five point three billion naira or forty-one point three per cent is earmarked for recurrent expenditures.
The budget is a balanced one as the expected income equals proposed expenditure; meaning that the government will not borrow to service the budget. The Anambra state government expects to service the budget from various sources. Its planned income is based on the crude oil price benchmark of sixty dollars per barrel and an average daily production of one point nine million barrels, against the Federal Government’s production benchmark of two point three million barrels per day, translating to a projected annual Federal allocation of forty billion naira next year. Other sources of income are Internally Generated Revenues, which are projected at three billion naira monthly, compared with the current rate of one point three billion naira monthly; Value Added Tax (VAT) and other Capital Receipts.
Out of the twenty-two point four billion naira earmarked for Road Works & Infrastructure, construction of new roads will gulp about twenty-one billion naira. One point five billion naira is mapped out to support on-going rehabilitation and construction of rural and community roads. The state government equally plans to continue the installation of traffic lights in 2019.
In agriculture, Governor Obiano’s administration intends to develop additional 2,000 hectares of land across the three senatorial zones in the state. It will also increase support to businesses engaged in export-driven large scale agro-allied investments with focus on creating jobs.
In addition, the state government will, in 2019, continue its collaboration with development partners to support increased farming activities and access to farmlands to ensure that its programmes and policies are implemented. It promises to sustain the implementation of a number of youth-orientated empowerment schemes such as the Youth Empowerment Scheme for fish farming, animal husbandry and crop production.
In 2019, the commitment of Governor Obiano is to deliver a globally competitive education. Thus, his government is projecting about twelve billion naira for Education. One point five billion naira is earmarked for the World Bank Assisted State Education Programme & Intervention Project (SEPIP); while over three billion naira has been allocated to infrastructure and capacity improvement in the state-owned university, college of education and polytechnic.
In the coming year, the state government will be partnering with the Cambridge Innovation Centre in the Massachusetts Institute of Technology to set up a world class innovation hub in the State. This investment is expected to train, incubate and empower over 1,000 youths annually. In the 2019 Fiscal Year, Youth Empowerment will be a key focus of the state. This will increase employment opportunities for our youths and ensure the socio-economic growth of the State.
The main driver towards achieving this is the Youth Entrepreneurship & Empowerment Programme where the state allocated four billion naira to empower up to 10,000 youths through vocational, agricultural and artisan training programmes as well as the provision of interest-free start-up capital to commence their businesses. There is also an additional 100 million naira earmarked for the film village to facilitate job creation in the creative sector.
On health, next year, an additional two billion naira has been earmarked to boost the Anambra State Health Insurance Scheme to ensure adequate implementation of the programme state-wide, while over one billion naira will be for the Construction and Equipping of the Chukwuemeka Odumegwu Ojukwu University Teaching Hospital and two billion naira in the rehabilitation and re-equipment of general hospitals respectively. Nine billion naira has been budgeted to achieve this and other strategic interventions in Health.
Equally, the state has allocated five hundred million naira to the Micro, Small & Medium Enterprise Funding Programmes to be implemented through the Anambra State Small Business Agency (ASBA) for 2019. Four point eight billion naira is set aside for the “Light-Up Anambra Program” and other Rural Electrification Schemes in 2019.
Next year, two point eight billion naira has been set aside by the government for the “N20 Million Community-Choose-Your-Own-Project” initiative for the third Phase. The government has also set up the Community Social Development Agency with support from the World Bank to improve infrastructural development across poor and vulnerable communities.
Admittedly, the 2019 budget of Anambra state seeks to provide a new phase of development for the State. Members of the state House of Assembly are therefore urged to give the proposal speedy consideration and passage to ensure a sustained and steady advancement of the state.
Commentary: Anambra State’s 2019 Budget For Sustained Economic Growth And Youth Empowerment
More
Comments are closed for this post.