By Ovat Abeng
Anambra State government has announced that its budget for 2024 financial year has achieved a remarkable 70 percent performance rate.
The State Auditor-General, Akosa Okocha, made the disclosure on Friday, at the Audit Forum and Citizens Accountability Dialogue on 2024 State Financial Statements.
He said the state performed creditably well in 2024 with a revenue surplus over the year’s budget projection while the budget shortfall was 28.70%.
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“State government over achieved the expected revenue for the year by N92,813,471,665.63 or 33.21% while the sum of N117,721,974,562.61 or 28.70% was the amount by which our actual expenditure of N292,410,250,696.39 is short of the budget projection of N410,132,225,259.00.
“Therefore, the State achieved a remarkable budget performance of over 70% in the year 2024. The revenues earned were applied to critical areas for development. The State performed creditably well in the year 2024,” he added.
Giving insights, Okocha revealed that a total sum of N750 million expenses were yet to be accounted for by various Ministries, Departments and Agencies (MDAs) in the 2024 fiscal year.
He said the record was an improvement compared to 2023 financial year where unresolved queries were valued at N2.5 billion, attributing the achievement to proactive measures put in place by his office.
“The office of the Auditor-General provides the link that assures citizens that there are effective checks and balances starting from budgeting, execution, accounting and documentation to auditing and follow-up.
“My office ensures that expectation gaps, lapses and other breaches are identified as it occurs and rectified. These observed breaches are also reduced to the barest minimum.
“In the financial year 2023, the amount of unresolved queries was about N2.5 billion but has reduced drastically to about N750 million in 2024.
“This is due to the proactive measures put in place by my office. Some of the Ministries, Departments and Agencies (MDAs) mentioned in the report have responded and forwarded documented evidence to clarify the issues in the unresolved queries concerning their entity.
“There have been some improvements in some of the areas we have challenges as I mentioned during last year’s Audit Forum,” he added.
Okocha appreciated Governor Chukwuma Soludo for his consistency in release of funds for Auditor-General activities and urged him to assist his office towards the soon completion of the new office building.
“I believe our Solution governor who has great love for infrastructure development will look towards our direction in the incoming year and we will be our new office building.
“The area of capacity building for my staff is also being pursued by my office to enable them to gain current expertise, knowledge and skills for job performance.”
Okocha said the dialogue would provide Ministries, Departments and Agencies (MDAs) with modern and trending approaches and techniques on public sector financial management.
“Transparency, accountability and fiscal responsibility have always been our watchword in Anambra State leading to the State winning many accolades in public sector financial management and transactions from reputable rating organizations.
“This year’s Audit Forum and Citizens Accountability Dialogue is a continuation of my office’s duty of bringing to the public whose fund the State government holds on trust and managing the report of our stewardship for the year ended 2024.
“It is an interactive session where the citizens and other relevant stakeholders interface with Public Fund administrators in order to gain insight on government and governance, fund administration and management, revenue generation, challenges faced within the period under review and other observed issue.”
At the event, Prof Tochukwu Okafor from Nnamdi Azikiwe University, Awka, delivered a lecture on enhancing transparency and accountability in public sector service delivery, giving an overview of International Public Sector Accounting Standards (IPSAS) and the roles of accountant and auditors.
Also, Dr Ekene Adokwe took participants through a robust financial system as a panacea for good governance, highlighting the critical role of the accountants and auditors in checkmating corruption and improving service delivery.
