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Those who believed that the election budget for this year is higher than 2015 please check out;
In 2015: 1 dollar =200 Naira
In 2018: 1 dollar = 350 naira
= 350-200
= 150 naira / 75% (Naira Devaluation)
In 2015. Election budget = N198 billion
In 2018. Election budget = N 242 billion
242-198 = N 44billion/ 22% differentiation. Now looking at it this way, there is a huge reduction.
HOW?
If we agree that 350-200=150 and that 150 represents 75% in 200 then. To equal the 2015 budget, there should be a 75% increase of Naira value in relation to dollar
(i.e 75/100*198= 148.5/149b)
149+198= N347b
So 198b in 2015 is = N347b in 2018.
NOW: N347b – N198b = N149b expected increase. Instead the difference was N44b representing 22% increase.
If 44b = 22% of N198b what will amount to %75 of the same amount?
= 75/100 * 198 = 148.5/149%
WHAT IS THE REDUCTION?
149b – 44b = 105b
105b/198b * 100 = 53%
22%(44b) – 75%(149b) = 53%(105b)
22%+53%=75%
:- there is 53% reduction in the budget of inec for this election year. With this analysis, 198b is > 242b
Conclusion: looking at the above analysis the cost of our election in relation to dollar exchange has reduced by 53% compared to that of 2015 and not increased as its been said presently.
But if this must be followed, then adhoc staff, police and other securities covering the election’s and inec staff transportation and other allowances should be increase by 22%. Its only when this is done that we can say yes; there is transparency in the system.
IS IT COSTLY?
in 2015, I criticised the cost of our elections to be very high and that it can create systemic corruption on the side of INEC especially on issues relating to procurement which very little will be made this election year because our card readers and other machines used in the last elections are still functional.
In 2018, even though it has reduced internationally and seemingly increased locally, (see above analysis), I still maintain my stand that N242 billion is to much for our elections.
Recommendations:
I. I urge National Assembly to probe this figures very well because that is their constitutional responsibility and reduce it as much as possible but must not made a not well thought out reduction that may undermine the outcome of the election.
II. They should also fund this expenditure from the projects hitherto inserted to the budget as advised by Mr president.
III. I urge the National Assembly to reconvene urgently and attend to this issue because of time which they are aware affects the country especially politician; a circle they belong. Doing this will allow them scrutinize the election budget very carefully to avoid rush hour decisions.
This is my sincere opinion
– Salihu Adam Jiddah is a Lecturer at the Federal University Kashere and Founder, Kogi Liberation Movement
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