The Anambra State Governor, Prof. Chukwuma Soludo, on Tuesday, presented the 2025 budget proposal of N607 billion to the state House of Assembly.

Soludo who labelled the budget  “Changing Gears 2.0” laid emphasis on acceleration and execution, adding that it represents a 48 per cent increase compared to the 2024 budget of N410 billion.

According to Soludo, N139.5 billion, which represents 45 per cent of the budget, is allocated to recurrent expenditure, while N467.5 billion, representing 48.9 per cent, is for capital expenditure.

The governor pointed out that, as with the 2024 budget, the deficit is expected to be funded through revenue growth or borrowing from financial institutions, explaining that the state did not borrow to finance budget deficits in either 2023 or 2024.

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He stated, “Mr Speaker, honourable members, from the foregoing, it is evident that there is no stopping our consistent acceleration in a steadfast execution mode. For sure, 2025 is a governorship election year in Anambra State.

“While the politicians will focus on politics, we will focus 100 per cent on executing our multi-faceted agenda with a deadline. Consequently, we have titled this budget ‘Changing Gears 2.0’ with an emphasis on acceleration and execution.”

He further noted that, depending on the execution in 2025, the state may still avoid borrowing to fund the deficit. In comparison to the 2024 budget, several key sectors are seeing significant increases