INEC: FG Spent N122.9bn On 2011 Elections

The Independent National Electoral Commission declared that the Federal Government spent N122.9bn to conduct the 2011 general elections.

Chief Press Secretary to the INEC National Chairman, Mr. Kayode Idowu, who stated this in a statement, also noted that the commission saved about N9bn from the initial N131.4bn budgeted for the exercise

Of the amount spent, Idowu said N66.3bn was for recurrent expenditure while N56.6bn went for capital expenditure.

He said, “Contrary to lingering speculations, the actual cost of the 2011 elections, including all costs involved in the voter registration exercise, is N66.3bn for recurrent expenditure and N56.6bn for capital expenditure – making a total of N122.9bn or, if you like, $800.6m at an exchange rate of N153.5 to $1 which prevailed at the time.

“This represented a saving of N9bn on a total of N131.4bn that was appropriated.”

Idowu, who said the commission appreciated the concerns of Nigerians over the huge financial costs of elections in the country, said the thrust of INEC’s strategic planning was to seek ways of cutting on expenditure while safeguarding the integrity of the electoral process.

He added, “INEC has, thus, been looking at cost-saving international best practices that can be adapted to Nigerian peculiarities without exposing the system to abuse.”

 

Source: Leadership Newspaper