Teaching Comparative Government and Politics

Wednesday, August 11, 2010

Money for the presidential election

The Senate made progress toward the election in Nigeria. It approved borrowing money to pay for the vote. From Vanguard in Lagos.

Senate Approves N87 Billion for INEC
THE Senate, slashed the supplementary budget of the Independent National Electoral Commission to N87,721,961,531 (eighty seven billion, seven hundred and twenty one million, nine hundred and sixty one thousand, five hundred and thirty one naira)…

But to finance the budget, the Senate also approved plans for a government bond issue to finance an 87.72 billion naira ($585 m) budget to help the electoral commission organise presidential and parliamentary polls next year. "We propose to fund this request by raising federal government bonds," President Goodluck Jonathan said in a submission to the Senate which was approved by lawmakers…

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