My first reaction as I signed the revised 2022 budget was gratitude to a responsive and responsible Legislature. I thank them for a strong partnership, which of course is a fundamental pillar of our quest for good governance. I feel deeply grateful to the leadership of the House for being able to deliver the revised budget on time.
In a world where this kind of process is fraught with under-hand dealings, I can beat my chest to say the Honourable Members of the House of Assembly did their work with integrity. Not a penny exchanged hands for inducement or any such thing. Indeed, this is the sign of a new way of approaching governance that we are excited to mainstream.
On the budget financing, I am also very happy that the House has graciously approved our request to borrow a 100 billion naira. I understand, in the short-term, the people cannot wait. Which is why as part of our financing plan, we have moved to borrowing. Out of the 250 billion required per annum to fill our critical infrastructure gap, we have settled for 100 billion which we hope to rollover to next year’s budget.
For every kobo of this borrowing, we will channel it to meeting our critical infrastructure needs. We have chosen a multi-strategy approach, first is bringing prudence to public expenditure, boycott all unnecessary spendings and ratchet up our internally generated revenue. We are also cleaning our wage bill, increasing focus on paying off the back log of pensions and gratuity arrears, including those of Local Government workers.
The journey towards a liveable and prosperous homeland has only begun. Ndị Anambra will get value for every kobo of this budget. With a state of emergency on our public finances, we are determined to take painful, but necessary steps to rebuild our Homeland.
May Anambra continue to succeed.
CC. Soludo, CFR.
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