The Independent National Electoral Commission disclosed that the Federal Government disbursed N313.4 billion for the organization of the 2023 general elections, as outlined in its 2023 General Election Report released on Friday.
Out of the N355 billion earmarked for the elections, only N313.4 billion had been released by September 2023.
INEC’s budget proposal for the 2023 general elections was based on key activities outlined in the approved Election Project Plan, totaling N305 billion.
The allocation comprised N159.7 billion for electoral operations, N117.3 billion for electoral technology, and N20.4 billion for electoral administrative costs.
Additionally, N7.4 billion, representing 2.5 percent of the total budget, was reserved for unforeseen electoral expenses.
Following constitutional provisions, INEC submitted its budget proposal to the presidency, which was subsequently forwarded to the National Assembly for approval. INEC Chairman presented the budget layout to the Senate and House Committees on INEC and Appropriations Committees, addressing all inquiries.
The National Assembly approved and appropriated N303.1 billion for the 2023 general election.
“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,” the report stated.
However, it became evident by January 2023 that the approved amount would be insufficient due to inflation, consumer price index fluctuations, and widening differentials in foreign exchange rates.
