Soludo presents N607bn 2025 budget to Assembly

The Anambra State Governor, Prof. Chukwuma Soludo, on Tuesday, presented the N607 billion 2025 draft budget proposal to the state House of Assembly.

Presenting the budget to the House, Soludo, who labelled the budget “Changing Gears 2.0” with an emphasis on acceleration and execution, stated that it represents a 48 per cent increase compared to the 2024 budget of N410 billion.

Soludo explained that N139.5 billion, which represents 45 per cent of the budget, is allocated to recurrent expenditure, while N467.5 billion, representing 48.9 per cent, is for capital expenditure.

He added that the capital budget constitutes 77 per cent of the total budget size, while recurrent expenditure accounts for 23 per cent, reflecting the same ratios as in the 2024 budget. He also noted that the budget deficit is estimated at N148.3 billion, which is 24 per cent of the budget, compared to 30 per cent in the 2024 budget.

The governor pointed out that, as with the 2024 budget, the deficit is expected to be funded through revenue growth or borrowing from financial institutions, explaining that the state did not borrow to finance budget deficits in either 2023 or 2024.

He stated, “Mr Speaker, honourable members, from the foregoing, it is evident that there is no stopping our consistent acceleration in a steadfast execution mode. For sure, 2025 is a governorship election year in Anambra State.

While the politicians will focus on politics, we will focus 100 per cent on executing our multi-faceted agenda with a deadline. Consequently, we have titled this budget ‘Changing Gears 2.0’ with an emphasis on acceleration and execution.”

“The proposed budget size is N606,991,849,118 for the fiscal year 2025. Compared to the 2024 budget of N410,132,225,272, this represents a 48 per cent increase.”
He further noted that, depending on the execution in 2025, the state may still avoid borrowing to fund the deficit. In comparison to the 2024 budget, several key sectors are seeing significant increases: the administrative sector by 45.5 per cent; the economic sector by 40.1 per cent; the judiciary sector by 51.3 per cent; the social sector by 82.7 per cent; education by 101.4 per cent; health by 57.1 per cent; and infrastructure investment by 38.9 per cent.

“We are building upon the iconic projects initiated in 2024 while introducing new ones. Infrastructure and economic transformation, as well as human capital development, remain the core of this administration. Significantly, at least 70 per cent of the budget is allocated to these sectors.”

“We are progressing the development of three new cities: Awka 2.0, Onitsha 2.0, and a new industrial city. The Anambra Mixed-Use Industrial City Master Plan and the railway master plan/feasibility study have been completed. Afreximbank and AFDB remain committed to supporting the development of the Industrial City.”

The governor highlighted plans to continue enhancing the ease of doing business in Anambra to make the state the preferred destination for investors. He mentioned that the state recently concluded the second edition of the Anambra Investment Summit, where 10 elite companies signed Memoranda of Understanding.

He also shared plans to build the largest shopping mall in Africa and develop leisure centres throughout the state.

Additionally, he noted the recent investment in equipment to enhance night landing capabilities at the Chinua Achebe International Airport.

On human capital development, the governor reiterated the focus on education and health. He said, “Our goal remains to provide free and qualitative education for every child in Anambra to enable them to succeed. We will maintain our free education policy and continue to pay the newly agreed operational costs for schools. We are transforming 22 secondary schools into smart schools (with many more to follow in the new year), setting a standard for what an ideal school should be in Anambra.”

He continued, “We will continue the aggressive upgrade of infrastructure in our primary schools through the ASUBEB programme. Indeed, by 2025, we plan to make significant investments in education so that our students and teachers will smile like never before.”

The governor also mentioned that the government currently spends over N1.2 billion a month to pay the salaries of government teachers deployed to these “returned mission schools,” excluding the pensions of retired teachers.

Fagbemi emphasised that the needs of poor and vulnerable individuals are also addressed in this budget. “More than 100,000 households will receive 10 or more seedlings of coconut, palm, ukwa, pawpaw, soursop, and other crops per household, as we did in 2024. We will also provide grants to micro businesses across 326 wards in the state as part of our commitment to our party mantra, ‘Onye Aghana Nwanneya’.”

“In 2025, we plan to expand our One-Youth, Two-Skills programme to accommodate more youths and empower them accordingly. We are also establishing a One Million Digital Tribe, scaling our digital skill training programme through the Solution Innovation District.”