OBI PRESENTS N66.676BN BUDGET TO HOUSE

Governor Peter Obi of Anambra State yesterday presented a 2011 budget of N66.676bn to the state House of Assembly.

The budget, tagged ‘Peoples Budget of Integrated Development IV, represents a reduction of N1.66 per cent of the 2010 budget.

Presenting the budget, Governor Obi said the amount was made up of N33.691bn for capital, and N32.985 billion for recurrent expenditures.

A break down of the budget showed that the  economic sector got the highest allocation of N16.446bn on account of the capital intensive nature of its component sub-sectors, such as land transport, which received N10.9140bn

Other key sectors that received allocation included social sector N4.692bn, environmental sector N6.592bn,and general administration N5.961bn

Obi said the budget was a shift from the previous ones because it was no longer supply but demand-driven, saying government now wanted the people to make  demands on their needs.

He said the bulk of the revenue of seventy percent is expected to come from the state’s share of Federation Account and N12 billion from Internally Generated Revenue.

He said provisions had been made for the new greater Onitsha water scheme  and that of Nnewi and Awka
Appealing to the people of the state for support to enable government realize its objective, the governor called on the lawmakers to give the budget quick passage for the state to move ahead next year.

Accordingly, the budget was given a first hearing in line with the resolution of the House that the bill be given accelerated hearing.

The Committee on Finance and Appropriation was given one week to report to the House on the budget.