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Anambra State Governor Obiano Begs Federal Government To “Refund N10bn Spent On Road Federal Roads”

Posted by jambox on October 3, 2019

The Anambra State Governor, Willie Obiano, has begged the federal government to refund him N10billion spent on the rehabilitation of federal roads in the state.

Obiano said his 2020 budget estimate of N137bn would be partly funded by the money, which it hopes that the Federal Government would reimburse him soon.

The governor, who stated this in his budget breakdown for the 2020 fiscal year, said, “We adopted the following macroeconomic assumptions for the budget estimates.

“We expect to receive N10billion as reimbursements from Federal Government for works done on Federal roads out of the amount owed to the state.

“A crude oil price benchmark of US555,bbl and an average daily production of 2.18m barrels average in line with the Federal Government’s Medium Term Expenditure Framework/projections, translating to a projected annual FAAC of N43.7bn as against the 2018 figure of N4Obn.

Obiano added,

“Value Added Tax revenue projection is pegged at N15.5bn annually, which is a 46% increase from the 2019 figure of N10.6bn.

“Internally Generate Revenues are projected at N2.5bn monthly (N30.0bn annually) compared with the current actual run rate of N1.48bn monthly (N17.8bn annually).

“We plan to achieve this by optimizing our IGR windows through continuous enumeration and automation as well as strengthening our enforcement initiatives in the State and sustaining the growth of our tax database.”

Source: Jambox Qtrs