Governor Charles Chukwuma Soludo has asserted that, despite the numerous challenges facing Nigeria, elected public officials must not shy away from delivering the benefits of democracy that significantly impact citizens’ lives.
His comments came in light of the Anambra State budget of N606 billion for 2025, which was shared with the Nigerian Tribune over the weekend. Soludo stated that he and his fellow public officials have no grounds for complaint regarding their responsibilities, as they willingly accepted their leadership roles.
He acknowledged that while unforeseen challenges may arise during the budget’s implementation due to the current economic climate, leaders must remain focused on their duties.
“For us, there is no room for excuses or complaints. We sought this role and are obligated to provide the dividends of democracy to our people, regardless of the constraints we face,” he emphasized.
Drawing on past experiences, he noted that even with limited resources in previous years, the administration is committed to achieving significantly greater results than before.
In line with the 2024 budget speech, Soludo clarified that any borrowing would adhere to two strict conditions: it must be a concessionary loan and designated for projects with a clear repayment plan.
The former Central Bank of Nigeria Governor acknowledged that funding the budget would be challenging, which necessitates frugality and the government’s commitment to “doing more with less.”
“Our administration has been recognized as the top state in fiscal transparency and among the top five in fiscal sustainability. We have streamlined governance costs, and our unprecedented capital-to-recurrent budget ratio of 77% to 23% speaks volumes,” he stated.
Soludo pointed out that the Internally Generated Revenue (IGR) remains a significant challenge. He indicated that, despite projecting an average monthly revenue of N5 billion for 2025, the state has consistently underperformed, averaging only N2.5 billion monthly—far below its potential.
He stressed that the state budget encompasses more than mere numbers and allocations; it embodies the collective hopes and aspirations of the people. “Our agenda is fundamentally about forging a better future, not just for ourselves but for generations yet to come,” he stated.
Soludo added that the budget’s size is relatively modest, both in real purchasing power and in US dollars, amounting to $357 million, especially when compared to the expenditures of previous years.
He lamented rising costs, noting that government expenses have skyrocketed—fuel prices now exceed N1,000 per liter, and cement prices have surged from a few hundred Naira to around N10,000 per bag.
With various inputs experiencing significant price hikes, he pointed out that revenue has not kept pace with these inflationary trends, either in nominal or real terms.
