FG allocates N100bn for 2023 Elections
POLITICS DIGEST- Emerging reports indicate that FG has allocated the sum of N100 billion for the forthcoming general elections in 2023
The national budget for the economic year was also reportedly increased by N2.47 trillion to to N16.45 trillion
The detailed expenditure was given and submitted to the House of Representatives by President Muhammadu Buhari for approval
The federal government has reportedly set aside the sum of N100 billion for the conduct of the 2023 general elections.
This new development was contained in the revised 2022-2024 Medium Term Expenditure Framework (MTEF), submitted to the House of Representatives by President Muhammadu Buhari for approval, Vanguard reported.
Reports gathered that it has also increased the national budget for the fiscal year from N13.98 trillion to N16.45 trillion, indicating a raise of N2.47 trillion.
MTEF is an annual, rolling three year-expenditure planning that sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined.
It also contains outcome criteria for the purpose of performance monitoring. Recall that the House had recently passed the first one containing N13.98 trillion for the 2022 national budget. But in a letter dated Saturday, October 2, 2021 addressed to the Speaker of the House, Femi Gbajabiamila, President Buhari said that the need to reflect the new fiscal terms in the Petroleum Industry Act (PIA) 2021, as well as other critical expenditures in the 2022 Budget necessitated the revision of MTEF.