Anambra seeks ₦70 billion from Nigeria’s stabilisation fund

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has reviewed Anambra State’s request for ₦70 billion from the stabilisation fund to address security, erosion and infrastructure challenges.

‌‌‍‌‍⁠⁠‍Olusegun Wright, chairman, Indices and Disbursement Committee, disclosed this in a statement issued by Maryam Yusuf, the commission’s Head of Information and Public Relations Unit, on Wednesday in Abuja.

Mr Wright, who also represents Lagos State on the commission, acknowledged the state government’s presentation of its financial challenges for consideration.

He said the stabilisation fund provides fiscal assistance in deserving circumstances, subject to established guidelines, available resources and appropriate approval procedures.

Mr Wright explained that requesting states must formally present their proposals before the commission conducts on-the-spot assessments of targeted projects.

He said the committee would examine financial records, project viability, estimated costs, implementation requirements and expected socioeconomic benefits before making recommendations.

He stressed that the technical review did not constitute automatic approval, adding that the request required further scrutiny and verification.

Why we need the money – Anambra govt

Presenting Anambra’s case, the Secretary to the State Government, Chiamaka Nnake, said the state had 21 local government areas, 179 communities and an estimated population of 8.9 million.

Ms Nnake put the state’s gross domestic product at approximately $12.7 billion and its projected 2026 budget at ₦766 billion.

She said Anambra had increased its internally generated revenue from about ₦2.2 billion to ₦7.2 billion, driven by commercial centres, industries and petroleum-producing areas.

However, she identified insecurity, erosion, flooding, inflation and rising public service costs as major fiscal challenges.

She added that sit-at-home orders had disrupted businesses and weakened investor confidence, further increasing pressure on the state’s economy.

On security, Ms Nnake said the government had enacted a Homeland Security Law, established a security outfit and strengthened collaboration through a joint task force.

She said the proposed funding would support operational vehicles, surveillance and communication equipment, personnel training and improved coordination to protect lives and stimulate economic activities.

Ms Nnake said Anambra had more than 1,000 erosion sites affecting 146 communities, with approximately ₦170 billion required to address identified critical locations.

She said ongoing interventions included erosion control, flood management, road rehabilitation, land reclamation, waterway clearance and tree planting.

The state had also restricted sand mining near vulnerable areas to mitigate environmental damage, she added.

On healthcare, Ms Nnake said the state’s free antenatal care and delivery programme had supported more than 206,000 deliveries, including 642 caesarean sections.

She added that the government had recruited 8,415 teachers and introduced free education from nursery to senior secondary school, increasing demand for personnel, facilities and learning materials.

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Ms Nnake identified agriculture, solid minerals and tourism as investment opportunities requiring additional funding and supporting infrastructure.

She said the state had distributed more than 2.3 million coconut and oil-palm seedlings but needed improved processing, storage and market access.

She also highlighted mineral deposits, petroleum-related opportunities and tourist attractions, including Agulu Lake, calling for geological surveys, better access roads and improved visitor facilities.

Ms Nnake reiterated that the ₦70 billion request would support security, environmental management, infrastructure, healthcare, education, agriculture, solid minerals and tourism.

She said the proposed intervention would protect livelihoods, address critical development challenges and diversify the state’s economy.

The Commissioner representing Anambra on RMAFC, Enefe Ekene, thanked the committee leadership and members for their observations.

Mr Ekene said the feedback would help strengthen the state’s presentation ahead of the proposed assessment visit.

He acknowledged that any recommendation would depend on verified financial documentation, project feasibility, estimated costs, implementation requirements and expected benefits, in line with established procedures.

(NAN)