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Nairaland Forum / Nairaland / General / Politics / NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 (520 Views)
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NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by MrsNgoziKalu(f): 2:32am On Mar 03, 2018 |
John Alechenu , Abuja
Ahead of the 2019 general elections, the caucus of
the governing All Progressives Congress is
considering a budget of N14 .82 bn for the year
2018.
Out of this fund, the party is proposing to acquire
a National Secretariat at the cost of N1.96 bn, while
N1. 3bn is being proposed to be spent on
conventions .
This was contained in a memo titled “ Financial
report for 2016, 2017 and presentation of 2018
budget to the National Caucus ” obtained by
Saturday PUNCH , in Abuja, on Friday.
The budget , which was prepared and presented to
the APC National Caucus by the party ’s National
Treasurer, Alhaji Bala Gwagwarwa , also proposed
that the party should spend N400 m for election
expenses and N500 m to procure vehicles.
Other expenses include : Grants to states/ zones,
N400 m ; membership registration, N25 m ; women /
Youth activities , N2 m ; legal costs, N2m , and
N2. 48bn was earmarked for reimbursement to
states and zones.
The party intends to finance this budget largely
from the nomination fees, fundraising, levies on
elected and appointed office holders and the sale
of party membership cards .
The memo , which was distributed to members of
the party ’s caucus at the last meeting held on
Monday , February 26 , 2018, was the 8th item on
the agenda of the meeting.
It read in part , “ Looking ahead of 2018 which is an
election year budget , a lot of activities ranging
from the organisation of congresses / primaries ,
conventions , sensitisation meetings and campaigns
are expected .
“ The budget must inevitably have to be robust ,
flexible and capable of being implemented .
Baring this in mind , a budget of N14 .82 bn as
shown in the Annexure 2 is being proposed .
“ The main sources of income for the 2018 budget
are nomination fees ( N5.86 bn) , fundraising ( N3.45
bn) , membership dues (N4. 2 bn) , sales of party
cards (N1 .0 bn), and levies on Elected/ Appointed
Office holders ( N 0 .304 bn) .
On
the
expenditure side, the major items are : Acquisition
of national secretariat ( N1. 96 bn) , conventions
( N1.3 bn), media /publicity ( N1bn) , election
expenses ( N0. 4bn) , vehicles (N0 .05 bn), grants to
states/zones ( N0. 4bn) , membership registration
( N0.2 bn), reimbursements to states and zones
( N2.48 bn) .”
The memo further read “ In order to ensure
funding stability and respectable budget
implementation , membership contribution has
been identified as crucial .
“ Accordingly , a framework to deploy electronic
payment system that assures convenience ,
transparency and ease of reconciliation of
payment has been designed .
“ This system allows the use of airtime to pay the
monthly N100 membership dues by members
while bigger payments can be transacted through
banking channels customised for the party in all
banks .
“ This system has been substantially completed
except for the negotiation of the revenue sharing
formula between the party and the telecoms
companies whose platform will be used in
collecting the payment and regulatory
impediments will soon be resolved, which will
substantially support the party ’s on - going
discussions on revenue sharing formula with the
telecoms companies.”
The treasurer further explained in the memo that
because of the difficulty the party was facing with
its planned engagement of telecoms firms to ease
the collection of fees, it had engaged the services
of “ System Spec (Remita)” as an alternative
channel for collection of membership fees.
He expressed the hope that this would be
inaugurated soon.
Given further explanations for the basis of his
optimism , Gwagwarwa said: “ Based on the
membership strength of about 10 million and 35
per cent success in collection of membership fees,
we are confident that this system will provide
sustainable funding for the party .”
The memo also gave insights into the contentious
issue of the alleged lack of openness in the income
and expenditure of the party ’s resources .
This was the subject of the acrimonious
relationship between and among members of the
party ’s National Working Committee before
President Muhammadu Buhari empanelled the
Asiwaju Ahmed Tinubu committee to resolve the
crisis within the party. |
Re: NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by MrsNgoziKalu(f): 2:33am On Mar 03, 2018 |
Re: NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by lawalosky(m): 6:08am On Mar 03, 2018 |
hmm |
Re: NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by OAFMods: 6:33am On Mar 03, 2018 |
I see. |
Re: NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by Nobody: 6:35am On Mar 03, 2018 |
ok |
Re: NEWS 2019 Polls: APC Proposes N14bn Budget For 2018 by Nobody: 6:38am On Mar 03, 2018 |
Pls can we get good governance first? |
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