By Chizoba Okeke
The Anambra State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF), marking a major step in shaping the state’s fiscal direction for the next three years.
The policy document, submitted by Governor Chukwuma Soludo on November 13, outlines the government’s revenue and expenditure strategy aimed at strengthening economic stability and development.
Presiding over the plenary, the Speaker Rt. Hon. Somtochukwu Nkem Udeze, described the MTEF as “bedrock of the state’s annual budget,” emphasizing its significance in guiding responsible fiscal planning, expenditure control, and long-term sustainability.
The approved framework highlights key financial projections, including a 63% increase in expected receipts from the 13% oil derivation fund—from ₦11 billion to ₦18 billion. It also forecasts a notable rise in Value Added Tax (VAT) revenue, expected to grow from ₦82.4 billion in 2025 to ₦101.7 billion in 2026. Additionally, the state’s monthly Internally Generated Revenue (IGR) target has been set at ₦6 billion.
To further improve public service efficiency, personnel costs are projected to rise by 15%, reflecting the administration’s commitment to enhanced worker welfare and strategic new recruitments.
The MTEF is anchored on several key principles:
Adoption of realistic revenue assumptions; Prioritization of workers’ welfare and recruitment needs; Improved operational efficiency across ministries and agencies; Use of timely, evidence-based data for budget preparation; and Strengthened budget monitoring and legislative oversight.
Presenting its report, the House Committee on Finance and Appropriation, chaired by Hon. Ejike Okechukwu, stressed the importance of continuous capacity building for lawmakers and legislative staff. The committee highlighted the need for deeper expertise in the Public Procurement Act, Fiscal Responsibility Law, and other financial regulations to enhance effective budget implementation.
The approval of the MTEF sets the stage for the presentation of Anambra State’s 2026 annual budget.
Chizoba is of the Ministry of Information, Anambra State
