Billion Naira Election: A Detailed Account of INEC’s N313.4 Billion Funding for 2023
The Independent National Electoral Commission (INEC) stated that the Federal Government provided N313.4 billion for the planning and execution of the 2023 general elections.
Ejes Gist News reports that the commission’s 2023 General Election Report, made public on Friday, revealed that as of September 2023, N313.4 billion out of the approved N355.8 billion for the elections was disbursed.
INEC’s proposed budget for the 2023 general election, totaling N305 billion, was detailed in the report, based on the key activities identified in the approved Election Project Plan.
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The breakdown of the amount revealed that the commission requested N159.7 billion for electoral operations, N117.3 billion for electoral technology, and N20.4 billion for electoral administrative costs, with an additional N7.4 billion, equivalent to 2.5 percent of the overall budget, earmarked for unforeseen electoral expenses.
The report highlighted that following the guidelines of the 1999 Constitution, the commission submitted its budget proposal for the 2023 general election to the presidency, which then sent it to the National Assembly for approval.
“Consequently, the commission appeared before the Senate and House Committees on INEC as well as the Senate and House Appropriations Committees in a joint session during which the INEC Chairman presented the expenditure layout of the budget and answered all questions and queries from Committee members.
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The National Assembly approved and appropriated the sum of N303.1 billion for the conduct of the 2023 general election,” it stated.
However, it noted that by January 2023, it was evident that the authorized sum would not be sufficient for the election’s conduct because of the rising consumer price index, inflation rate, and foreign currency rate discrepancies.
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