Soludo presents ₦757.88bn 2026 budget to Anambra Assembly for approval

By Vincent Ujumadu

AWKA – The Anambra State government has proposed a ₦757,884,487,705 budget estimate for the 2026 fiscal year, representing a 24.1% increase over the 2025 budget of ₦606,991,849,118. Governor Chukwuma Soludo presented the budget to the state House of Assembly on Tuesday for approval.

According to the governor, the 2026 budget reflects his administration’s intensified focus on execution, with capital expenditure projected at ₦595.3 billion (79% of the total budget) and recurrent expenditure at ₦162.6 billion (21%). This marks a year-on-year growth of 26.3% in capital expenditure and 16.6% in recurrent expenditure.

The budget deficit is estimated at ₦225.7 billion, or 29.8% of the total budget, and is expected to be financed, if necessary, through hybrid options, including potential privatisation proceeds, increased internally generated revenue (IGR), and concessionary borrowing primarily for bankable projects.

“Since the beginning of this administration, we have not borrowed to finance budget deficits, and depending on the pace of execution in 2026, we may still not need to borrow,” Soludo said.

Highlighting sectoral priorities, the governor noted year-on-year increases in key areas: Administrative Sector (12.2%), Economic Sector (26.7%), Social Sector (31.4%), Education (46.9%), Health (13%), and Infrastructure Investments (27.7%). He said the increases reflect the government’s commitment to strengthening human capital, boosting economic growth, expanding critical infrastructure, and enhancing the well-being of Ndi Anambra.

Soludo said at least 70% of the 2026 budget is allocated to security, law and order, infrastructure, economic transformation, and human capital development, underlining their importance to the state’s long-term development trajectory.

On infrastructure, the governor stated that the government would continue its transport revolution, including building and dualising strategic roads, bridges, and flyovers, expanding mass transit systems, developing new jetties, and acquiring boats for safer waterway transport. A Public-Private Partnership (PPP) model is also being explored for the state’s rail master plan.

The governor further outlined plans for the development of three new cities: Awka 2.0, Greater Niger, and the Aerotropolis/New Industrial-Commercial City, with the construction of the Anambra Mixed-Use Industrial City commencing in 2026 as a signal of the next phase of industrial transformation.

Education remains a top priority, with plans to sustain free and qualitative education, continue school construction and upgrades, and establish two specialist tertiary institutions. New public primary schools will be constructed in 30 communities that have never had one, while infrastructure upgrades will continue across existing primary and secondary schools under the ASUBEB programme. Support for mission schools, particularly the returned mission schools, will also continue.

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