Okey Maduforo 
Governor Charles Soludo of Anambra State has presented the 2026 appropriation bill to the State House of Assembly, proposing a budget of ₦757.88 billion under the theme “Changing Gears 3.0: Solution Continues.”
Soludo recalled that in November 2024, he presented the 2025 budget of ₦606.99 billion, which had a deficit of ₦139.5 billion, representing 24 percent compared to 30 percent in 2024. Recurrent expenditure for 2025 stood at ₦139.5 billion, while capital expenditure was ₦467.5 billion, reflecting nearly 49 percent year-on-year growth.
Acknowledging the challenging macroeconomic environment, Soludo noted that inflation remained in double digits, increasing the cost of living and governance, but stable exchange rates offered some respite. Despite these challenges, he commended the state’s progress in implementing the 2025 budget.
The proposed 2026 budget reflects a 24.1 percent increase over 2025, with recurrent expenditure projected at ₦162.6 billion (16.6% growth) and capital expenditure at ₦595.3 billion (26.3% growth). Capital spending will constitute 79 percent of the total budget, demonstrating the administration’s focus on delivering tangible outcomes for Ndi Anambra, while recurrent expenditure accounts for 21 percent.
The budget deficit is estimated at ₦225.7 billion, representing 29.8 percent of the total budget. Soludo said the deficit, if necessary, could be financed through hybrid options, including potential privatization proceeds, increased internally generated revenue, and concessionary borrowing for bankable projects.
He emphasized that the administration has not borrowed to finance deficits since its inception and may continue this trend depending on execution in 2026.
