The Independent National Electoral Commission (INEC) has disclosed that the Federal Government has disbursed N313.4 billion for the implementation of the 2023 general elections.
In its 2023 General Election Report released on Friday, INEC stated that out of the approved N355 billion allocated for the elections, only N313.4 billion had been released as of September 2023.
According to the report, INEC proposed a budget of N305 billion for the 2023 general elections, aligning with the key activities outlined in the approved Election Project Plan. The breakdown of this amount indicated that N159.7 billion was allocated for electoral operations, N117.3 billion for electoral technology, and N20.4 billion for electoral administrative costs.
Additionally, N7.4 billion, equivalent to 2.5 percent of the budget for electoral operations, technology, and administration, was earmarked for unforeseen electoral expenses.
The report highlighted that, following constitutional provisions, INEC’s budget proposal for the 2023 general election was submitted to the presidency and subsequently transmitted 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 Committee 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.
“The National Assembly approved and appropriated the sum of N303.1 billion for the conduct of the 2023 general election,” it stated.
It, however, stated that by January 2023, it was clear that the approved amount would not be enough for the conduct of the election due to the inflation rate and consumer price index as well as the widening differentials in the foreign exchange rate.
