The All Progressives Congress (APC) has budgeted a sum of N14.82 billion for 2018.
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, 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