FG Approves N18 Billion to INEC For Imo, Kogi, Bayelsa Election. The Federal Executive Council (FEC) has approved the sum of N18 billion for the conduct of the Imo, Bayelsa, and Kogi elections, which are scheduled for November 11, 2023.
The Minister of Budget and Economic Planning, Atiku Bagudu, made the announcement, stating that the funds would be provided to the Independent National Electoral Commission (INEC).
The FEC also approved a supplementary budget of over N2 trillion, which includes provisions for defence, cash transfers, wage awards, and other expenses.
According to him, the approval of the supplementary budget was to address urgent issues.
Bagudu, who stated after the Federal Executive Meeting at the State House in Abuja, said, “Equally, N18 billion was provided for the Independent National Electoral Commission to support them in the conduct of the Bayelsa, Kogi and Imo elections.
”FEC approved the sum of N2,176,791,286,033 as a supplementary budget, and this supplementary budget is to fund urgent issues, including N605 billion for national defence and security.
“This is to sustain the gains made in security and to accelerate, and these are funds that the security agencies need before the year runs out.
“Equally, the sum of N210 billion is provided for the payment of wage awards in negotiation with the Nigeria Labour Congress.
“The Federal Government agreed to pay N35,000 each to about 1.5 million employees of the Federal Government for September, October, November, and December 2023.
“And that amounts to about N210 billion, which has been approved, and also N400 billion as Cash Transfer payments.
“You may recall that the Federal Government secured an $800 million loan from the World Bank to pay cash transfers of N25,000 to 15 million households. The $800 million is for two months: October and November. The President graciously approved that an additional month should be funded by the federal government and that is what this N100 billion is for.”