Anambra State Governor, Prof Chukwuma Soludo, on Tuesday, presented the 2026 budget estimate of N757,884, 487.705 to the state House of Assembly which began debate on it immediately after the presentation.

Tagged ‘Budget of changing gears 3.7, solution continues,’ the budget showed an increase of 24.1 per cent over the previous year’s N606,991,809.180.

According to the governor, N595.3 billion goes to capital expenditure which is 79 per cent of total budget, while N161.6 billion or 26.3 per cent is for recurrent expenditure.

“N225.5 billion is the budget deficit which will be financed through hybrid borrowing, if necessary,” he added.

While revealing that his government is yet to borrow, Soludo noted that his government is focused on deepening and laying new foundations while delivering on the Solution agenda.

The governor, who also appraised the performance of the 2025 budget, said the past eight months focused on five pillars of the Soludo Solution.

“When compared to the 2025 budget of N606,991,849,118, this represents a 24.1 per cent increase, reflecting our intensified focus on execution. Recurrent expenditure is projected at N162.6 billion, representing a 16.6 per cent year-on-year growth, while capital expenditure stands at N595.3 billion, a 26.3 per cent growth relative to 2025.

“Notably, the Capital Budget accounts for 79 per cent of the total budget size, with recurrent expenditure at 21 per cent – a clear demonstration of our commitment to deliver tangible outcomes for Ndi Anambra.

“The budget deficit is estimated at N225.7 billion, representing 29.8 per cent of the total budget size. As previously, this deficit is expected to be financed, if necessary, through hybrid financing options including possible privatisation proceeds, bump in IGR collections, and concessionary borrowing mostly for bankable projects,” he added.

Appreciating Anambra voters for renewing his mandate through unprecedented votes cast, Soludo pledged to sustain the tempo in 2026.

“We’ve built over 900 kilometres of roads with 60 kilometres already asphalted at 40 kilometres per month, and 60 kilometres repaired. In 2026, the government will focus on deepening and laying new foundations while delivering on the Solution agenda,” he said.

Soludo further reassured his administration’s commitment to ensuring every child had access to education.

“Next year the state will develop three cities, build 30 new schools in communities that don’t have public schools; two specialist tertiary institutions, support mission schools returned by the government and cooperate with existing mission schools.