Anambra failed to meet Internally Generated Revenue target – Commissioner… 

Anambra State Commissioner for Economic Planning and Budget, says the state’s economy performed impressively in the outgoing year in spite of macroeconomic shocks.

Ms Nnake, who spoke in Awka, the state capital on Wednesday, said the implementation rate of the 2023 budget was up to 70 percent.

She said the setbacks on the optimal implementation of the budget included non-realisation of the 2023 target for Internally Generated Revenue and lack of competitiveness of the naira against the dollar.

According to her, a lot is still going with the coming of the dry season, so the budget is still running.

“The 2023 budget was predicated on a N4 billion monthly Internally Generated Revenue but we have only done an average of N2 billion per month, this already shows massive deficit.

“We also have the challenge of devaluation of the naira which affected the purchasing power, Anambra is not in isolation in Nigeria.

“However, we are able to do 66 per cent in the 2022 budget and we will definitely hit 70 per cent by the time the figures are out,” she said.

Ms Nnake described the state’s economy in 2023 as “very eventful” with lots of activities in various sectors and commended Governor Charles Soludo for his “administrative prowess”.

The commissioner said the administration focused on infrastructure which was critical to building a livable and prosperous state, and that over 400 roads were flagged off across the state with some already completed and some still ongoing.