Anambra Assembly Approves N766.37bn 2026 Budget, Increases Capital, Recurrent Expenditures
The Anambra State House of Assembly has approved a total budget estimate of N766,374,487,705 for the 2026 fiscal year, following upward adjustments to both the recurrent and capital expenditure components.
The approval followed the consideration and adoption of the report of the House Committee on Finance and Appropriation, which recommended an increase of N7 billion in the overall recurrent expenditure, raising it to N169,602,802,205.
Similarly, the total capital expenditure was increased by N1.49 billion, bringing it to N596,771,685,500.
Following the adjustments, the total budget size increased by N8.49 billion, from N757,884,487,705 to N766,374,487,705.
A breakdown of the approved budget shows that N169,602,802,205 was approved for recurrent expenditure, while N596,771,685,500 was earmarked for capital expenditure for the 2026 fiscal year.
In its recommendations, the committee, led by Honourable Ejike Okechukwu, urged Ministries, Departments, and Agencies, MDAs, to properly justify their budgetary proposals to enable the timely release of funds and ensure optimal budget performance.
The committee also charged MDAs to be deliberate in executing their priority projects during the 2026 fiscal year.
The House further directed all MDAs in the state to strictly comply with the provisions of the Procurement Act, the Fiscal Responsibility Law, the Public Finance Law of the state, as well as the National and State Tax Laws, as amended.
Additionally, the Assembly emphasized that MDAs must apply for virement where necessary to forestall misappropriation of public funds.
Speaking after the adoption of the report, the Speaker of the Anambra State House of Assembly, Right Honourable Somtochukwu Udeze, said the approval of the 2026 budget reflects the commitment of the Eighth Assembly to prudent financial management and accelerated development of the state.
According to the Speaker, the adjustments made to the budget were carefully considered to ensure a balance between recurrent obligations and capital projects that will have a direct impact on the lives of Ndi Anambra.
