Political parties involved in the 2024 governorship elections in Edo and Ondo states collectively incurred expenses exceeding N13.4 billion, with the All Progressives Congress (APC), the People’s Democratic Party (PDP), and the Labour Party (LP) responsible for the majority of these costs.
This information was disclosed in a recent report published on Tuesday by the Kimpact Development Initiative (KDI), a non-governmental organization dedicated to promoting good governance and democratic rights in Nigeria.
During the presentation of the report to stakeholders in Abuja, KDI’s Head of Research and Strategy, Oluwafemi Adebayo, noted that these expenditures significantly surpassed the one billion naira limit per candidate established by the Electoral Act of 2022.
The report indicated that in Edo State, the APC candidate, Monday Okpebholo, spent N3.8 billion, while the PDP candidate, Ighodalo Asueirhinme, expended N3.55 billion, and LP’s Akpata Olumide Anthony spent N2.32 billion. This resulted in a total expenditure of approximately N9.7 billion in Edo.
In Ondo State, APC’s candidate, Lucky Aiyedatiwa, spent N2.65 billion, PDP’s Ajayi Alfred Agboola utilized N1.02 billion, and LP’s expenditure was a modest N7.6 million, culminating in a total of N3.7 billion for the state.
Aiyedatiwa emerged victorious in the Ondo election, receiving 366,781 votes, defeating PDP’s Agboola Ajayi, who garnered 117,845 votes. In Edo, Okpebholo secured 291,667 votes, surpassing his nearest rival, PDP’s Asue Ighodalo, who received 247,274 votes.
Despite these substantial figures, the report highlighted a discrepancy in party financial disclosures, which indicated significantly lower reported incomes. The APC declared N800 million, the PDP reported N650 million, and the LP stated N1.03 billion.
Additionally, the report noted a significant increase in spending on election day, which outstripped the costs associated with pre-election campaigning.
“In Edo, APC’s candidate spent N2.7 billion on election-day mobilization, while in Ondo, the APC allocated N2.05 billion for last-minute voter inducements,” the report stated.
The document highlights vote buying as a significant issue, revealing that political parties allocated over N1.1 billion for direct voter inducements in Edo, with the APC alone contributing nearly N800 million in Ondo.
Adebayo pointed out that these expenditures are in clear violation of Section 88(3) of the Electoral Act 2022, noting that lax enforcement has enabled parties to circumvent regulations through third-party expenditures and untraceable financial transactions.
During the event, Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), cautioned that the excessive influence of money in elections poses a threat to democracy and governance.
He stated that the commercialization of electoral processes tends to favor candidates with substantial financial backing rather than those who possess the most compelling vision or qualifications.
Represented by Effa Imoh Okim, Head of the Benin Zonal Command of the Commission, the EFCC chairman emphasized the importance of maintaining a fair competitive environment for the health of democracy.
“The impact of election financing on governance cannot be overlooked. The way leadership emerges often reflects the standards of the electoral process. When financial inducements and other irregularities interfere, they raise questions about the legitimacy of outcomes and the ability of leaders to govern effectively.
“Addressing the challenges of election financing is a shared responsibility. A system that prioritizes transparency and accountability in campaign funding contributes to better governance outcomes,” he added.
Olukoyede reiterated the EFCC’s dedication to addressing financial irregularities in elections and emphasized the need for more robust enforcement of the restrictions placed on campaign expenditures.
“While regulations exist to impose expenditure ceilings, enforcement remains a key area for further strengthening. Exploring ways to enhance enforcement mechanisms is an important conversation that requires broader engagement,” he said.
Adebayo Balogun, the Chairman of the House of Representatives Committee on Electoral Matters, identified campaign financing as a significant barrier to political engagement in Nigeria.
He emphasized the importance of adhering to electoral regulations to promote transparency and accountability, advocating for political financing to remain within established legal boundaries.
Balogun noted that the high costs associated with campaign financing have traditionally deterred many qualified individuals from running for office.
He remarked that candidates often find it exceedingly difficult to accurately assess their own campaign expenditures.
“Honestly speaking, campaign financing is a very bitter pill for candidates and political parties to swallow. It has been a barrier to the participation of many credible individuals in the political space from time immemorial.
“It must therefore be a significant step towards strengthening compliance with the provisions of the Electoral Act regarding accountability in political and campaign financing, thereby promoting a credible electoral process in Nigeria,” he added.
