Governor Charles Soludo of Anambra State presented a budget proposal of N757 billion for 2026 to the Anambra House of Assembly on Tuesday for approval.
Mr Soludo said the proposed budget, tagged “Changing Gears 3.0: Solution Continues,” reflected an intensified focus on the execution of his administration’s “transformative” agenda.
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He said that the budget was made up of N595.3 billion capital expenditure, accounting for 79 per cent of the total budget size, while N161.6 billion, representing 21 per cent of the total budget, was allocated for recurrent expenditure.
The governor stated that the budget has a deficit of N225.7 billion, which is expected to be financed through hybrid funding options, public–private partnerships, improved internally generated revenue, concessions, and support from financial institutions.
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“I present to you the proposed 2026 budget, totalling N757,884,487,705. Compared to the 2025 budget of N606.99 billion, this represents a 24.1% increase.
“We recorded over 60 per cent budget performance in 2025. Despite it being an election year, we remained focused and in execution mode.
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“The 2026 budget framework is designed to drive growth across all sectors. We remain committed to responsible fiscal management, with no borrowing for consumption.
“I want to assure you that every kobo will be prudently utilised to maximise value for the people of Anambra, and we will continue to lay the foundation for the prosperous, liveable and smart homeland we envisioned,” he said.
Receiving the budget, the Speaker of the House, Somtochukwu Udeze, commended the governor for the “massive ongoing transformation projects across the state”.
He assured the governor that the draft budget would receive swift and thorough consideration.
The News Agency of Nigeria reports that the difference between the former budget (N606 billion) and the proposed budget (N757 billion) is N151 billion, representing a 24.8% increase.
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