The Anambra State House of Assembly has adopted the report of its Committee on Finance and Appropriation on the 2027–2029 Medium-Term Expenditure Framework (MTEF), urging the state government to ensure transparency in budget implementation and prioritise critical infrastructure.
The resolution was reached during plenary on Thursday, October 15, 2026, presided over by the Speaker, Rt. Hon. Somtochukwu Udeze.
Presenting the report, the committee chairman, Honourable Ejike Okechukwu, explained that the framework comprises three key documents: the Economic and Fiscal Update (EFU), Fiscal Strategy Paper (FSP) and Budget Policy Statement (BPS), which provide the foundation for preparing the annual budget.
The committee recommended an exchange rate benchmark of ₦1,400 to the dollar for the preparation of the 2027 Appropriation Bill.
It also called on the Ministry of Budget and Economic Planning to provide a comprehensive explanation of the projected ₦214.9 billion budget deficit for 2027, including measures to mitigate potential revenue shortfalls.
To promote accountability and effective resource allocation, the committee urged the ministry to establish a transparent system for ranking projects and distributing funds among ministries, departments and agencies (MDAs).
It stressed that priority should be given to critical infrastructure, the state’s Vision 2070 agenda and projects that address the needs of the people.
On the budget timetable, the committee urged the executive arm of government to comply strictly with stipulated deadlines, noting that the 2027 budget should be presented to the House on or before November 9, 2026.
According to the committee, timely presentation would allow adequate legislative scrutiny and passage before the December 1 deadline.
The committee further recommended sustained funding for projects validated under the Community Charter of Demand, warning that mid-year budget cuts could undermine community development priorities if such projects were not adequately protected.
Angel Network News (ANN) reports that the adoption of the report is expected to guide the preparation of the 2027 budget and the state’s fiscal planning for the 2027–2029 period.
