Nigerian Tribune
3 April 2011
Following the cancellation of the Senate and following the cancellation of the Senate and House of Representatives elections yesterday, Nigerians have been assessing the impact of the cancellation.
One of such is the huge capital losses the postponement will add to the already castigated 94.3 billion naira set out for the 2011 general election. Obviously, the entire 94.3 billion naira allocated for the entire process would not have been lost but it will not be incorrect to assume that a substantial part of the money must have been lost to the cancellation.
Mention must be made that out of the initial 87.7 billion naira allocated for the entire process, 25.8 billion was set aside as recurrent expenditure for INEC staff who consists largely of National Youth Service Corps (NYSC) member while 61.9 billion naira was separated as capital expenditure from which funds used for the printing of ballot papers used for the botched election were drawn.
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