…Warns that such spending upsurge could undermine Nigeria’s Election
Nigeria’s anti-corruption agency has raised concerns over the rising cost of political campaigns, warning that excessive spending by political aspirants could weaken democratic institutions and increase pressure on elected officials to misuse public funds.
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, said some governorship aspirants spent between ₦20 billion and ₦30 billion during recent party primaries, describing the trend as a major threat to credible elections and good governance.
Olukoyede disclosed while delivering a keynote address at the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin.
Speaking on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” the EFCC chairman said the high financial barriers associated with winning elections could encourage corruption after candidates assume office.
He explained that politicians who spend huge sums to secure positions may become focused on recovering their investments rather than delivering public services.
“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process,” Olukoyede said.
The EFCC boss said the commission would intensify efforts against vote-buying and electoral financial offences ahead of the 2027 general elections, adding that arrests and convictions had already been secured involving politicians, electoral officials and other individuals.
He warned that unchecked electoral corruption could threaten national stability and public confidence, stressing that enforcement must apply equally to all actors.
To strengthen election monitoring, Olukoyede disclosed that the EFCC plans to deploy drones and other technology-driven tools to track vote-buying and financial inducement activities at polling locations.
He urged political parties and supporters to focus on policy-driven campaigns and avoid rhetoric capable of triggering violence during the election period.
The EFCC chairman also called for stronger cooperation among the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media and political stakeholders to ensure peaceful and credible elections.
The Vice-Chancellor of the University of Ilorin, Wahab Egbewole, described electoral corruption as a threat to national security and economic development, noting that credible elections are essential for investor confidence and long-term growth.
Analysts say concerns over election financing will remain a key issue ahead of Nigeria’s 2027 polls, as businesses and international observers continue to monitor political stability, governance reforms and the country’s investment climate