President Muhammadu Buhari. Reuters
The 2019 general elections will cost 242.4 billion naira, says President Muhammadu Buhari in a letter sent to the National Assembly.
The Senate President, Bukola Saraki, read the letter on the floor during plenary on Tuesday.
Buhari, in the letter, explained that implementing a budget of 9.12 trillion naira for 2018 will be extremely challenging and therefore does not consider it expedient to increase the 2018 budget to accommodate the funds needed for the 2019 general elections.
He, therefore, asked the National Assembly to transfer the funds appropriated for the new projects which are inserted in the 2018 budget to cover the sum of 228.8 billion naira for the elections.
The President noted that the balance will be provided in the 2019 budget.
Also, the President sent a supplementary budget to the National Assembly for consideration.
The President had in June disclosed that he was going to send a supplementary budget after raising concerns about some of the changes made by lawmakers in the 2018 budget.
He stated that the supplementary/amendment budget will solve some critical issues which he hopes “the National Assembly will be able to expeditiously consider.”