Anambra budgets N22.8bn for new minimum wage

The Anambra State Government has budgeted N22.8bn as personnel cost for 2020 fiscal year.

The state Commissioner for Budget and  Economic Planning, Mr Mark Okoye, stated  this on Sunday at a press conference held at  the Exco Chamber of the Government House, Awka, during the breakdown of the 2020 budget.

The commissioner said the proposal was to accommodate increase in workers’ wage that would be resulting from the new minimum wage.

He assured that Anambra State would be among the first states to pay the new wage when issues about it would be resolved.

He said the state would also employ new workers in 2020 to replace those who retired.

He stated, “This figure accommodates new and important hired hands into the civil service, such as the replacement of retired teachers, promotions and projected salary increment in line with new minimum wage.

Okoye added, “We provided for N16bn in domestic debt financing. This comprises single digit concessionary programme lending for interventions in agriculture, manufacturing and youth entrepreneurship.

“Internally generated revenue is projected at N30bn (N2.5bn monthly) for 2020 as a result of comprehensive reforms instituted in the state,” he added.

He said N13bn was budgeted for social benefits such as pension, gratuities and  group social life insurance.

The governor, Willie Obiano, had earlier on Thursday last week laid a budget of N137.1bn before the state House of Assembly with 57 per cent as capital expenditure and 43 per cent as recurrent expenditure.