Soludo presents N757.88 b 2026 budget to House of Assembly for approval

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By Madu Obi

The Anambra State government has proposed ₦757,884,487,705 budget estimate for the 2026 fiscal year.

Governor Chukwuma Soludo presented the budget estimate to the state House of Assembly on Tuesday for approval.

When compared to the 2025 budget of ₦606,991,849,118, the 2026 budget represents a 24.1% increase, which the governor said, reflects his administration's intensified focus on execution.

Details showed that recurrent expenditure is projected at ₦162.6 billion, representing a 16.6% year-on-year growth, while capital expenditure stands at ₦595.3 billion, a 26.3% growth relative to 2025.

According to the governor, the capital budget accounts for 79% of the total budget size, with recurrent expenditure at 21%, which is a clear demonstration of the state government's commitment to deliver tangible outcomes for Anambra people.

Soludo said the budget deficit is estimated at ₦225.7 billion, representing 29.8% of the total budget size, adding that the deficit is expected to be financed, if necessary, through hybrid financing options, including possible privatization proceeds, bump in IGR collections, and concessionary borrowing mostly for bankable projects.

He said: "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.

"Our fiscal discipline remains firm. Relative to 2025, all key sectors increased year-on-year: Administrative Sector (12.2%), Economic Sector (26.7%), Social Sector (31.4%), Education (46.9%), Health (13%), and Infrastructure Investments (27.7%).

These increases reflect our priorities in strengthening human capital, boosting economic growth, expanding critical infrastructure, and securing the well-being of Ndi Anambra.

Our focus in 2026 is to deepen and consolidate the foundations laid in our first tenure, while also introducing new legacy projects that will define Anambra’s future for decades to come while delivering across the five pillars of the Solution Agenda."

He said that the priorities of his administration remain security, law, and order; infrastructure and economic transformation; and human capital development, adding that at least 70% of the 2026 budget is allocated to these critical sectors, reflecting their importance to the long-term development trajectory.

The governor said his government will sustain the momentum of development of transport infrastructure revolution especially building/dualizing strategic roads, bridges, and flyovers that connect the entire state.

We will continue major investments in our mass transit systems, expanding buses, developing new jetties, acquiring boats, and facilitating safer, faster transportation along our waterways.

We are exploring PPP financing model for our rail master plan. Alongside this, we are progressing with the development of three new cities: Awka 2.0, Greater Niger, and the Aerotropolis/ New Industrial-commercial City.

The construction of the Anambra mixed-use industrial city will commence in earnest in 2026. This project signals the next phase of our industrial transformation. Urban planning and regeneration will be accelerated. Furthermore, we will intensify efforts to enhance the ease of doing business in Anambra State, ensuring that our State remains the preferred destination for both local and foreign investors.

In 2026, our plan is to deepen ongoing investments in education, sustaining our free and qualitative education and bursary scheme. We will continue constructing new schools, while upgrading and equipping existing ones to meet modern standards.

We will commence the construction of new public primary schools in 30 out of the 76 communities that have never had a public primary school, setting a new benchmark for what an ideal school should look like in Anambra State.

Alongside this, we will sustain the aggressive upgrade of infrastructure in our primary and secondary schools through multiple schemes, especially the ASUBEB programme, ensuring that learning environments across the State are conducive and equipped.

In addition, we will be establishing two specialist tertiary institutions to strengthen our higher education. We will continue to support mission schools, particularly the returned mission schools, the governor said.