Anambra Assembly Flags ₦214.9bn Budget Deficit, Sets November 9 Budget Deadline
By Emmanuel Chigbata | IchieTimes
The Anambra State House of Assembly has adopted the report of its Committee on Finance and Appropriation on the 2027–2029 Medium-Term Expenditure Framework (MTEF), raising concerns over the projected ₦214.9 billion budget deficit for 2027 and urging the state government to strengthen fiscal transparency.
The lawmakers also called for strict adherence to the budget calendar, transparent allocation of public funds and prioritisation of critical infrastructure and community development projects.
Presenting the report, the committee chairman, Honourable Ejike Okechukwu, explained that the MTEF comprises three key documents: the Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP) and Budget Policy Statement (BPS). These provide the economic and fiscal basis for preparing the annual budget.
The committee recommended an exchange rate benchmark of ₦1,400 to the dollar for preparing the 2027 Appropriation Bill.
It also urged the Ministry of Budget and Economic Planning to provide a comprehensive explanation of the projected ₦214.9 billion deficit, including measures the government intends to adopt to address potential revenue shortfalls.
On expenditure priorities, the committee called for a transparent framework for ranking projects and allocating funds to ministries, departments and agencies. It recommended that priority be given to critical infrastructure, the state’s Vision 2070 agenda and the needs of residents.
The lawmakers further urged the executive arm to comply strictly with the budget timetable, recommending that the 2027 budget be presented to the Assembly on or before November 9, 2026.
According to the committee, timely presentation would give lawmakers sufficient time to scrutinise the estimates and facilitate passage before the December 1 deadline.
The report also recommended sustained funding for projects validated under the Community Charter of Demand, warning against mid-year budget cuts that could undermine community development priorities.
The adoption of the MTEF report sets the stage for the preparation and consideration of Anambra State’s 2027 budget, with the Assembly emphasising fiscal accountability, disciplined spending and the need to align public expenditure with development priorities.
