INEC to Receive N18 Billion for Bayelsa, Imo, and Kogi Governorship Elections

The Independent National Electoral Commission (INEC) is set to receive N18 billion from the 2023 supplementary budget for the purpose of conducting governorship elections in Bayelsa, Imo, and Kogi states.

The elections are scheduled for November 11, 2023. This allocation was announced by the Minister of Budget and Economic Planning, Atiku Bagudu, following a meeting of the Federal Executive Council (FEC).

The supplementary budget, totalling N2.1 trillion, was approved to address pressing issues, with a focus on national defence and security.

Of the allocated funds, N605 billion will go towards maintaining and enhancing the security apparatus. This allocation is intended to sustain the progress made in the country’s security sector and further accelerate security efforts.

Additionally, N210 billion has been earmarked to cover wage awards negotiated with the Nigeria Labour Congress (NLC).

Under this agreement, about 1.5 million federal government employees will receive N35,000 each for the months of September, October, November, and December 2023.

Moreover, N400 billion is allocated for cash transfer payments. It’s important to note that the federal government had secured an $800 million loan from the World Bank to provide cash transfers of N25,000 to 15 million households for two months (October and November).

In an effort to extend support, the federal government decided to fund an additional month of cash transfers using this N100 billion allocation.

This supplementary budget signifies the government’s commitment to addressing critical issues while ensuring that the upcoming elections in the aforementioned states are conducted successfully.

Source: Channels TV