ANAMBRA State Governor, Willie Obiano, has presented the 2022 appropriation bill of N141.9bn to the State House of Assembly.

The budget was tagged, ‘Continuity, Sustainability and Development of a New Anambra.’

The budget was made up of N81bn capital expenditure, translating to 57 per cent and N60.9bn recurrent expenditure or 43 per cent of the budget.

While blaming the dwindling revenue of the state to frequent sit-at-home protests by Biafra agitators, the governor said the budget was premised on the crude oil price benchmark of $50 per barrel.

The governor said the state’s budget was expected to be funded from Value Added Tax of N19.8 bn and N40.36bn expected from Internally Generated Revenue.

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Also, N21.67bn would be spent on salaries and wages; N18.3 bn would be spent on group life insurance, loan, pensions and gratuities of retirees, while N23.78bn would be spent on overheads.

The governor equally said, “Despite the disruptions in economic activities occasioned by the sit-at-home campaign by non-state actors, we achieved a recurrent expenditure half year budget performance rate of approximately 35.4 per cent, while our capital expenditure half year budget performance stood at approximately 59.6 per cent.

“This led to an aggregate half year budget performance of 50.0 per cent. However, a return to normalcy in the latter period of the current year is assured. Thus, I expect our overall budget performance to improve to approximately 75 per cent.”

The Speaker of the House, Mr Uche Okafor promised that he and his colleagues would ensure it was passed speedily.