The Government of Anambra State has said its 2020 annual budget of N137 billion would be relying heavily on the State’s Internally Generated Revenue (IGR).
The Commissioner for Economic Planning, Budget and Development Partners, Mr. Mark Okoye stated this while briefing journalists on the breakdown of the 2020 budget over the weekend at the Government House, Awka.
Governor Willie Obiano had on September 26, 2019 presented the 2020 budget estimate of N137.1 billion to the Anambra State House of Assembly.
Mr Okoye said the state government had presented a realistic budget to the lawmakers for the year 2020 and assured the residents of better days ahead, since most funds would be sourced through IGR without relying much on federal allocations. He stated that the IGR was projected at N30 billion, at N2.5bn monthly for 2020.
He also said that over 3000 companies are registered in Anambra and many are operating effectively, noting that state would make efforts to ensure they pay taxes.
He also said the government has instituted in-built mechanisms to checkmate leakages in IGR generation. He urged residents and indigenes of Anambra to pay their taxes, dues and levies to enable the government to meet up with the 2020 budget and provide basic human amenities.
The state Commissioner for Works, Mr Ifejiofor said government has budgeted N6bn for the Anambra cargo airport because the governor promised to complete it before he leaves office.
Principal Secretary to the Governor, Willie Nwokoye, said the budget was a deficit with key assumptions that can erase the need to borrow.