The ruling All Progressives Congress (APC) has proposed a budget of N14.82 billion for its activities in 2018.
This was contained in a memo titled “Financial report for 2016, 2017 and presentation of 2018 budget to the National Caucus”, item 8 on the agenda of the meeting, according to a report by The Punch.
The memo was distributed to members of the party’s caucus at the last meeting held on Monday.
The budget, which was prepared and presented to the APC National Caucus by the party’s National Treasurer, Bala Gwagwarwa, noted that out of this fund, the party hopes to acquire a National Secretariat at the cost of N1.96 billion and spend N1.3 billion on convention.
The budget also proposed N400 million for election expenses and N500 million to procure vehicles.
Other expenses include: Grants to states/ zones; N400 million, membership registration; N25 million, women/ youth activities; N2 million, legal costs; N2 million, and N2.48 billion was earmarked for reimbursement to states and zones.
The party said it intends to finance this budget largely from the nomination fees, fundraising, levies on elected and appointed office holders and the sale of party membership cards.
The memo read in part: “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 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.”
The treasurer, Mr Bala explained in the memo that due to the difficulty faced by the party with its planned engagement of telecoms firms to ease the collection of fees, it has engaged the services of “System Spec (Remita)” as an alternative channel for collection of membership fees and hopes this would be inaugurated soon.
“Based on the membership strength of about 10 million and 35 per cent success in collection of membership fees, we are confident that this system will provide sustainable funding for the party.”
