Political parties that participated in the 2024 Edo and Ondo governorship elections collectively spent over N13.4 billion, far exceeding the N1 billion legal spending limit set by the Electoral Act 2022.
This was revealed in a new report by Kimpact Development Initiative (KDI), a non-governmental organization advocating for good governance and democratic rights in Nigeria.
Breakdown of Campaign Spending
According to Oluwafemi Adebayo, KDI’s Head of Research and Strategy, the three major parties—the All Progressives Congress (APC), People’s Democratic Party (PDP), and Labour Party (LP)—accounted for nearly all expenditures.
Edo State
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APC (Monday Okpebholo): N3.8 billion
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PDP (Ighodalo Asueirhinme): N3.55 billion
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LP (Akpata Olumide Anthony): N2.32 billion
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Total: N9.7 billion
Ondo State
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APC (Lucky Aiyedatiwa): N2.65 billion
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PDP (Ajayi Alfred Agboola): N1.02 billion
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LP: N7.6 million
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Total: N3.7 billion
Despite these massive figures, official party financial disclosures reported much lower figures, raising concerns about transparency.
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APC declared: N800 million
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PDP declared: N650 million
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LP declared: N1.03 billion
Election-Day Spending & Vote Buying
The report also revealed a sharp increase in election-day spending, which exceeded pre-election campaign costs.
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In Edo: APC’s candidate spent N2.7 billion on election-day mobilization.
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In Ondo: APC allocated N2.05 billion for last-minute voter inducements.
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Estimated vote buying: Over N1.1 billion in Edo, while APC alone spent nearly N800 million in Ondo.
EFCC, Lawmakers Raise Concerns
Speaking at the report’s presentation in Abuja, Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), warned that excessive money in elections undermines democracy and governance.
“Election monetization often benefits candidates with deep pockets rather than those with the best vision or qualifications.”
House of Representatives Committee on Electoral Matters Chairman, Adebayo Balogun, also described campaign financing as a major barrier to credible political participation.
“It has historically hindered many qualified individuals from contesting elections due to high costs.”
He called for stricter enforcement of campaign spending laws to promote fairness and transparency.
The EFCC urged stronger enforcement of spending limits, while KDI emphasized the need for greater accountability in campaign financing.
As Nigeria looks ahead to future elections, stakeholders agree that regulating campaign finances will be crucial in ensuring credible electoral processes and good governance.
