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. This budget reflects a 48 percent increase from the 2024 budget of N410,132,225,272.
Themed “Changing Gears 2.0,” the budget emphasizes acceleration and execution, with 70 percent of its allocation focused on infrastructure, economic transformation, and human capital development, which are central to Soludo’s administration.
Recurrent expenditures are projected at N139.5 billion, showing a year-on-year growth of 45.0%. In contrast, capital expenditure is set at N467.5 billion with a year-on-year growth of 48.9%. The capital budget comprises 77% of the total budget, while recurrent expenditure accounts for 23%, maintaining the same ratios as the 2024 budget. The estimated budget deficit stands at N148.3 billion, representing 24% of the budget compared to 30% in the 2024 budget.
In a statement signed by Governor Soludo’s Chief Press Secretary, Christian Aburime, it was noted that the administration may not borrow to fund the deficit. However, several key sectors will see significant increases compared to 2024:
– Administrative sector: 45.5%
– Economic sector: 40.1%
– Judiciary sector: 51.3%
– Social sector: 82.7%
– Education: 101.4%
– Health: 57.1%
– Infrastructure investment: 38.9%.
The statement also mentioned that Soludo’s government will continue with the iconic projects initiated in 2024 while introducing new ones, including the development of three new cities: Awka 2.0, Onitsha 2.0, and a new Industrial City. Additionally, the Anambra Mixed-Use Industrial City Master Plan and the railway master plan feasibility study have been completed.
According to Soludo, his administration will further enhance the ease of doing business in the state, as highlighted during the recent second edition of the Anambra Investment Summit (ANinvest 2.0), where 10 elite companies signed Memoranda of Understanding (MOUs) with Anambra State.
In the plan for 2025, Soludo intends to extend power access to underserved communities and encourages private sector investment in the Anambra Electricity Market through a regulatory framework under the National Electricity Amendment Act of 2023. The administration also aims to significantly expand the state’s water projects.
Soludo emphasized that human capital development will remain a priority, with education and health receiving the attention they deserve. This includes expanding the state’s “One-Youth-Two-Skills” program to empower more youths and the “One Million Digital Tribe” program, which provides digital skill training through the Solution Innovation District (SID).
Regarding budget funding, Governor Soludo explained that the state will adhere to its mantra of “Doing More with Less.” An average monthly revenue of ₦5 billion is projected, totaling an Internally Generated Revenue (IGR) of ₦60 billion in 2025. He affirmed that this could be increased through renewed efforts to enhance revenue generation capacity, potentially reaching ₦10-15 billion monthly.
Administrator and Writer
