Joel Ajayi

The Indices and Disbursement Committee of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has received the Anambra State’s presentation on the request for ₦70 billion from the Stabilization Fund to finance its priority projects and other proposed investments across critical sectors of the state’s economy.
Speaking during the technical session held at the Commission’s headquarters in  Abuja on Tuesday 20th October, 2026, the Chairman of the committee and Honourable Commissioner representing Lagos State, Prof. Olusegun Adekunle Wright, acknowledged the state government’s initiative in presenting its financial challenges to the committee for consideration. He explained that the Stabilization Fund is an important fiscal intervention mechanism intended to provide assistance in deserving circumstances, subject to established guidelines, availability of resources and the appropriate approval processes.
Prof. Wright noted that the Committee considered it necessary to maintain the established procedure requiring requesting States to first make formal presentations before the Commission prior to the on-the-spot assessment of the targeted projects. He stressed that the committee would examine the credibility of the financial records, viability and estimated costs of proposed projects, implementation requirements and the expected socio-economic benefits to the people of the state. The  Committee Chairman pointed out that the technical review did not constitute automatic approval, as the request remained subject to further scrutiny, verification and possible recommendations to the Commission’s plenary.

In her presentation, the Secretary to the Anambra State Government, Chiamaka Nnake, outlined the state’s economic profile, revenue performance, expenditure pressures and development priorities. She disclosed that Anambra has 21 local government areas, 179 communities and an estimated population of 8.9 million people, with a gross domestic product (GDP) of approximately $12.7 billion and a projected 2026 budget of ₦766 billion. 

She also reported that the state had increased its internally generated revenue (IGR) from about ₦2.2 billion to approximately ₦7.2 billion. Nnake explained that interconnected commercial and industrial centres, such as Awka, Onitsha, and Nnewi, along with petroleum-producing areas, drive Anambra’s economy.

However, she identified insecurity, erosion, flooding, inflation and the rising cost of public services as major fiscal pressures. She added that sit-at-home orders and restricted movement had disrupted commercial activities, affected government revenue and weakened investor confidence.

On security, the SSG highlighted government interventions, including the enactment of a Homeland Security Law, the establishment of a state security outfit and collaboration through a joint task force.

She said additional support would strengthen security operations through operational vehicles, surveillance and communication equipment, personnel training and improved coordination, thereby helping to protect lives and property, restore investor confidence and stimulate economic activities.

Speaking on environmental challenges, Nnake reported that Anambra had more than 1,000 erosion sites, with 146 communities affected at varying levels. She estimated that approximately ₦170 billion would be required to address identified critical sites.

The  SSG highlighted ongoing erosion-control projects to include, flood management, road rehabilitation, land reclamation, waterway clearance, tree planting and restrictions on sand mining near vulnerable areas, while appealing for further resources to protect communities and critical infrastructure.

On healthcare and education, the SSG highlighted the state’s free antenatal care and delivery programme, which she said had supported more than 206,000 deliveries, including 642 Caesarean sections, at no cost to beneficiaries.

She also reported the recruitment of 8,415 teachers and the introduction of free education from nursery to Senior Secondary School Three.

She noted that these initiatives had increased demand for medical personnel, equipment, medicines, classrooms, learning materials and other public services, making sustained investment necessary to maintain quality and expand access. 

Nnake identified agriculture as a major opportunity for economic diversification, disclosing that the state had distributed more than 2.3 million coconut and oil-palm seedlings.

She called for investments in processing, storage, irrigation, cold-chain facilities and market access to improve productivity, reduce post-harvest losses and create jobs.

She also identified mineral resources, including kaolin, bentonite, lignite, silica sand, gypsum and laterite, as well as petroleum-related opportunities, noting the need for geological surveys, processing facilities and supporting infrastructure to attract investors.

Tourism was also highlighted as a potential source of employment, investment and revenue growth. Nnake cited Agulu Lake and other natural and heritage attractions, explaining that improved access roads, visitor facilities and supporting infrastructure would help position the state as a more attractive destination. 

In concluding her presentation, the SSG reiterated the state’s request for ₦70 billion from the Stabilization Fund to support priority interventions in security, environmental management, infrastructure, healthcare, education, agriculture, solid minerals and tourism.

She said the proposed assistance would complement existing government investments, sustain essential public services, protect livelihoods, improve investor confidence and promote a more diversified and resilient economy.

In his closing remarks, the Honourable Commissioner representing Anambra State, Dr. Enefe Ekene, thanked the committee Chairman for presiding over the session and commended fellow commissioners for their patience, critical observations and contributions.

He also appreciated the committee secretariat for its guidance and support, noting that the observations made would enable the Anambra State delegation to refine and strengthen its presentation ahead of the proposed visit to the state. 

He expressed optimism that the engagement would yield fruitful results. The committee reiterated that its consideration would be guided by supporting financial documentation, project feasibility, costs, implementation requirements and expected benefits, stressing that any recommendation would remain subject to further verification and compliance with the relevant procedures.

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