Governor Chukwuma Soludo of Anambra state on Tuesday presented a budget proposal of N757 billion for 2026 to the state House of Assembly for approval.

Soludo said the proposed budget tagged- ‘Changing Gears 3.0: Solution Continues’, reflected intensified focus on execution of his administration’s transformative agenda.

He said that the budget was made up of N595.3 billion capital expenditure, accounting for 79 per cent of the total budget size.

According to him, N 161.6 billion was allocated for recurrent expenditure, translating to 21 per cent of the total budget size.

The Governor said the budget has a deficit of N225.7 billion, which is expected to be financed through hybrid funding options, public–private partnerships, improved internally generated revenue, concessions and support from financial institutions.

“I present to you the proposed 2026 budget, totaling N757,884,487,705. Compared to the 2025 budget of N606.99 billion, this represents a 24.1 per cent increase.

“We recorded over 60 per cent budget performance in 2025. Despite it being an election year, we remained focused and in execution mode.

“The 2026 budget framework is designed to drive growth across all sectors. We remain committed to responsible fiscal management, with no borrowing for consumption.

“I want to assure you that every kobo will be prudently utilised to maximise value for the people of Anambra and we will continue to lay the foundation for the prosperous, liveable and smart homeland we envisioned,” he said.

Receiving the budget, the Speaker of the House, Dr Somtochukwu Udeze, commended the Governor for the massive ongoing transformation projects across the state.

He assured the Governor that the draft budget would receive swift and thorough consideration.

The News Agency of Nigeria (NAN) reports that the difference between the former budget (N606 billion) and the proposed budget (N757 billion) is N151 billion, which is a 24.1 per cent increase.

Gov. Chukwuma Soludo of Anambra State