Oladipupo Awojobi 
Politics in Nigeria has increasingly become a game of money, where financial strength often determines electoral success. The high cost of running for office has led to the dominance of money politics, limiting participation to only the wealthy or those backed by financial powerhouses. From party primaries to general elections, aspirants are required to spend huge sums of money on party nominations, campaigns, media presence, and vote mobilisation.
This feature explores the financial realities of contesting for public office in Nigeria, its impact on democracy, and the growing concerns about political exclusion and corruption.
Cost of running for offices
Party Nomination Forms
One of the biggest financial hurdles for aspirants is purchasing nomination forms. In the 2023 general elections, the two dominant parties—the All Progressives Congress (APC) and the People’s Democratic Party (PDP)—charged exorbitant fees:
Presidential nomination forms: APC – N100 million, PDP – N40 million
Governorship nomination forms: APC – N50 million, PDP – N21 million
Senatorial nomination forms: APC – N20 million, PDP – N3.5 million
House of Representatives nomination forms: APC – N10 million, PDP – N2.5 million
For many aspirants, securing a party’s ticket is the most expensive stage of the election process, as it often involves lobbying and internal party negotiations that require significant financial commitment.
Campaign financing
Campaigning in Nigeria is capital-intensive, involving costs for publicity, logistics, rallies, and mobilizasation. The major expenditures include:
Billboards, posters, and advertisements: Millions are spent on radio, TV, and social media campaigns.
Political rallies and logistics: Large-scale events require funding for venues, transportation, and security.
Vote buying and mobilisation: In many cases, politicians distribute money, food, and gifts to sway voters.
A governorship aspirant may need to spend anywhere between N2 billion and N10 billion to run an effective campaign, while a presidential campaign could cost upwards of N50 billion.
Election day expenditures
On election day, financial demands increase. Party agents must be compensated, security arrangements are made, and in some instances, there is alleged vote buying. Reports indicate that voters are sometimes offered between N2,000 and N10,000 to cast their ballots for specific candidates.
The impact of money politics
Political exclusion
The high cost of elections has created a barrier to entry for many credible but financially disadvantaged candidates. This has led to the monopolisation of politics by the rich, sidelining young and competent aspirants.
Corruption and financial mismanagement
Politicians who spend billions of naira to get elected often feel the need to recoup their investments once in office. This encourages embezzlement, inflated contracts, and bribery, leading to poor governance and underdevelopment.
Weakening of democratic principles
Elections should be based on ideas and competence, but in Nigeria, money has become the deciding factor. This undermines democracy, as candidates with the best policies may lose to those with deeper pockets.
Regulating election spending
To curb the negative effects of money politics, the Independent National Electoral Commission (INEC) and relevant stakeholders must enforce strict financial regulations. Some key solutions include:
Reducing nomination fees: Making nomination forms more affordable will encourage wider participation.
Strict monitoring of campaign financing: INEC must enforce limits on campaign spending and penalise violators.
Tackling vote buying: Security agencies and civil society organisations must work together to address election malpractices.
Encouraging public funding for elections: Introducing public financing for political campaigns can reduce the influence of private donors and special interests.
The high cost of running for office in Nigeria continues to shape the country’s political landscape, often at the expense of good governance. Unless strict reforms are implemented, politics will remain a game for the highest bidder, undermining democracy and the aspirations of many well-meaning Nigerians.
For Nigeria’s democracy to thrive, there must be deliberate efforts to reduce the influence of money in politics and create a level playing field for all.
Prominent Nigerians speak
The role of money in Nigerian politics has been a subject of intense debate, with many prominent Nigerians expressing concerns over its impact on democracy, governance, and electoral integrity. From former presidents to civil society leaders, voices across different sectors have weighed in on how financial influence is shaping the nation’s political landscape.
Bola Ahmed Tinubu (Current President of Nigeria)
“Politics should be about service, not about money. However, the reality in Nigeria is that elections are expensive, and we must find ways to reduce the influence of money while strengthening our democratic institutions.”
Olusegun Obasanjo (Former president of Nigeria)
“Nigeria’s democracy is in danger because of money politics. When people spend billions to get elected, their focus is not on governance but on recovering their investments. This is why corruption thrives.”
Atiku Abubakar (Former Vice President and PDP Presidential Candidate)
“The excessive cost of elections in Nigeria has made it difficult for young, competent, and visionary leaders to emerge. If we do not address this, we will continue to recycle the same political class.”
Peter Obi (Labour Party Presidential Candidate in 2023 and Former Governor of Anambra State)
“In a country where millions live in poverty, politicians spend billions to win elections. This is why we have bad governance—because the system favours those with money, not those with ideas.”
Prof. Mahmood Yakubu (Chairman, Independent National Electoral Commission – INEC)
“We must regulate campaign spending and strictly enforce the electoral laws. The monetisation of politics is a major threat to free, fair, and credible elections.”
Wole Soyinka (Nobel Laureate and activist)
“Money politics is a cancer that has eaten deep into Nigeria’s democracy. Until we have electoral reforms that reduce financial influence, elections will continue to be auctions rather than democratic processes.”
Festus Keyamo (SAN) (Minister of Aviation and former APC presidential campaign spokesperson)
“Money plays a role in elections everywhere, but in Nigeria, the scale is alarming. We must have strict financial controls to ensure that elections are based on merit, not wealth.”
Bishop Matthew Kukah (Catholic Bishop of Sokoto and social critic)
“When money determines leadership, competence and integrity are compromised. We need a system where ideas and vision—not deep pockets—determine who leads us.”
Dele Momodu (Publisher and politician)
“Politics in Nigeria has become so expensive that only the rich or those backed by powerful financiers can contest. This shuts out young and capable leaders from the process.”
Conclusion:
The voices of these notable Nigerians highlight a growing concern: money politics is eroding democracy and good governance in Nigeria. While some argue that financial investment is necessary for effective campaigning, most agree that the current system heavily favours the wealthy and discourages credible leadership.
With electoral reforms, stricter financial regulations, and greater civic awareness, Nigeria can move toward a more inclusive and transparent democracy where money is not the deciding factor in elections.
