Anambra State Governor, Prof. Chukwuma Soludo, presented the state’s N607 billion budget proposal for 2025 to the House of Assembly on Tuesday, highlighting a 48% increase over the 2024 budget of N410 billion.
The budget, dubbed “Changing Gears 2.0,” is centered on accelerating growth and ensuring execution, with a clear focus on capital development and infrastructure.
Of the total budget, N467.5 billion (48.9%) is allocated to capital expenditure, while N139.5 billion (45%) is earmarked for recurrent costs.
Soludo noted that the capital expenditure continues to account for 77% of the total budget, similar to the previous year.
The state expects a budget deficit of N148.3 billion, roughly 24% of the total, down from 30% in 2024.
Despite this, the governor expressed confidence that, as with the previous two years, the deficit would be covered through revenue generation and borrowing, if necessary.
In his speech, Governor Soludo emphasized that 2025, a governorship election year, would remain focused on project execution, rather than political campaigning.
He underscored the administration’s ongoing commitment to driving economic transformation and improving human capital.
“The focus will remain 100% on delivering our multi-faceted agenda,” he said.
Soludo also highlighted that key sectors, including education, health, infrastructure, and social services, would see substantial increases in funding for 2025.
Notably, the education sector is receiving a 101% boost, and health funding will rise by 57.1%.
A significant portion of the budget will go towards ongoing and new infrastructure projects, such as the development of Awka 2.0, Onitsha 2.0, and a new industrial city, which are part of the administration’s broader vision for economic revitalization.
The state government has also made progress in its investment initiatives.
Soludo noted that the second edition of the Anambra Investment Summit had just concluded, with 10 prominent companies signing agreements to invest in the state.
Additionally, the state is moving ahead with plans to develop the largest shopping mall in Africa and leisure centers across Anambra, as well as enhancing the Chinua Achebe International Airport’s night landing capabilities.
On human capital development, the governor reaffirmed the administration’s commitment to education and health. He outlined plans to continue providing free, high-quality education to all children in Anambra, alongside major upgrades to both primary and secondary schools.
As part of the focus on youth empowerment, Soludo’s government plans to expand its “One-Youth, Two-Skills” program and establish a “One Million Digital Tribe” to enhance digital skills training for young people.
In his address, Governor Soludo also reiterated the government’s commitment to supporting vulnerable populations, with plans to distribute seedlings to over 100,000 households and provide grants to micro-businesses in all 326 wards across the state.
The budget also emphasizes ongoing support for agricultural development, including the distribution of various crops such as coconut, palm, and pawpaw to rural communities.
