Soludo Unveils N757.88 Billion Budget To Anambra Assembly.

Onyebuchi Onwuchekwa 

Anambra State Governor, Chukwuma Charles Soludo, has presented a N757.88 billion budget proposal for the 2026 fiscal year to the State House of Assembly.

The budget, titled “Changing Gears 3.0: Solution Continues”, focuses on consolidating legacy projects and driving economic transformation.

 

The proposed budget represents a 24.1% increase over the 2025 budget of N606.99 billion. Recurrent expenditure is projected at N162.6 billion, while capital expenditure stands at N595.3 billion, accounting for 79% of the total budget size.

Soludo emphasized that the budget is anchored on the five pillars of his manifesto: Security, Law and Order; Infrastructure and Economic Transformation; Human Capital and Social Agenda; Governance and New Value System; and Environmental Sustainability.

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 went further to outline 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.