The All Progressives Congress
(APC) has budgeted a sum of N14.82 billion for 2018.
The proposal was contained in a
memo presented by Bala Gwagwarwa, party’s national treasurer, to the APC
national caucus on Monday.
The ruling party hopes to fund
its 2018 budget from levies on elected and appointed office holders, nomination
fees, fundraising and sale of party membership cards.
According to a break down
obtained by Punch, APC is proposing a sum of N1.96 billion to acquire a
national secretariat while N1.3 billion has been put aside as expenses for
conventions.
While it is proposing N500
million to procure vehicles, N400 million was earmarked for election expenses.
Also, N2.48 billion has been
earmarked for reimbursement to states and zones, N25 million for membership
registration, N2 million for women and youth activities and N2 million for
legal fees.
“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 memo read in part.
“The budget must inevitably have
to be robust, flexible and capable of being implemented. Baring this in mind, a
budget of N14.82bn as shown in the Annexure 2 is being proposed.
“The main sources of income for
the 2018 budget are nomination fees (N5.86bn), fundraising (N3.45 bn),
membership dues (N4.2 bn), sales of party cards (N1.0 bn), and levies on
Elected/Appointed Office holders (N 0.304bn).
“On the expenditure side, the
major items are: acquisition of national secretariat (N1. 96bn), conventions
(N1.3bn), media /publicity (N1bn), election expenses (N0.4bn), vehicles
(N0.05bn), grants to states/zones (N0.4bn), membership registration (N0.2bn),
reimbursements to states and zones (N2.48bn).
“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.”
Gwagwarwa also said the party had
engaged the services of System Spec (Remita) as a channel for collection of
membership fees.
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