By Gabriel Atumeyi
Nigeria’s democracy is facing a problem that many citizens can see but too few leaders are willing to confront. Elections are becoming increasingly expensive, and the rising cost of politics is slowly pushing ordinary Nigerians out of the democratic process.
Every election season follows a familiar pattern. Party primaries become contests of financial strength rather than competitions of ideas. Delegates are courted with cash, influence is traded behind closed doors, and candidates with the deepest pockets often emerge victorious. Yesterday, the Chairman of the Economic and Financial Crimes Commission (EFCC) revealed that some governorship aspirants spent as much as ₦30 billion to secure party tickets.That figure should alarm every Nigerian. No democracy can remain healthy when political offices are effectively auctioned to the highest bidder. If we genuinely want credible elections and accountable leadership, then enforcing campaign finance limits can no longer be treated as an afterthought. It must become a national priority.
The influence of money in politics goes far beyond campaign billboards and television adverts. It shapes who gets nominated, who gets elected, and ultimately who gets heard.
When a politician spends billions merely to win a party primary, that money is rarely viewed as a public service investment. It becomes a business venture that must be recovered once power is secured. The consequences are evident everywhere: Elected officials become accountable to financiers rather than citizens. Government contracts and policies are designed to reward political investors. Honest and capable candidates without access to vast wealth are crowded out before voters even have a chance to consider them.
Over time, this creates a political system where competence matters less than financial muscle. Citizens lose faith in elections because they begin to believe that outcomes are decided long before election day. The Problem Is Not the Absence of Laws, Nigeria already has campaign finance regulations. Under the Electoral Act 2022, presidential candidates are limited to spending ₦5 billion, governorship candidates ₦1 billion, and senatorial candidates ₦100 million. The law also prohibits anonymous donations and requires financial disclosures. On paper, these provisions appear strong. In reality, however, they are rarely enforced. Political parties routinely submit financial reports that receive little scrutiny. Regulatory agencies often lack the resources or political backing needed to monitor spending effectively. Investigations, when they happen, usually begin after elections have been concluded and winners have already assumed office.
The result is predictable: candidates ignore spending limits because they do not expect any meaningful consequences. A law that is never enforced ceases to be a law. It becomes merely a suggestion.
If Nigeria is serious about reducing the influence of money in politics, then enforcement must move beyond speeches and press statements. First, financial disclosures should happen in real time. Political parties and candidates should be required to submit regular spending reports throughout the campaign period, not months after the election. These reports should be verified against banking and tax records to ensure accuracy.
Second, penalties must be severe enough to deter violations. A candidate who flagrantly exceeds legal spending limits should face disqualification, not merely a fine that can easily be absorbed as part of campaign expenses.
Third, enforcement agencies must work together. A dedicated campaign finance monitoring unit, supported by INEC, the EFCC, and the ICPC, could investigate suspicious transactions, freeze illicit funds, and prosecute offenders before elections are concluded.
Political party financing also deserves closer attention. Anonymous donations and hidden contributions create fertile ground for corruption. Greater transparency and stricter reporting requirements would make it harder for powerful interests to secretly purchase influence.
Finally, citizens, journalists, and civil society organizations must be empowered to play a watchdog role. Public access to campaign finance records would allow Nigerians to see exactly who is funding political campaigns and what interests may be shaping public decisions.
The EFCC’s revelation should not become another shocking headline that disappears after a few news cycles.
It should force a broader national conversation about the future of our democracy.
Nigeria cannot continue on a path where elections are decided in private meetings, where party tickets are secured through financial muscle, and where public office is treated as an investment opportunity.
The cost of ignoring this problem is enormous. We risk creating a political class that serves financiers rather than voters, a government that priorities private interests over public needs, and a citizenry that increasingly loses confidence in democratic institutions.
Enforcing campaign finance limits is not about punishing success or attacking wealth. It is about protecting fairness.
A healthy democracy should reward vision, competence, integrity, and public trust—not simply the size of a candidate’s bank account.
Every Nigerian, regardless of financial status, should have a realistic opportunity to participate in politics and compete for leadership based on ideas and merit. That is what democracy promises.
Nigeria now faces a clear choice. We can continue pretending that elections are free and competitive while money quietly determines outcomes behind the scenes. Or we can strengthen enforcement, hold violators accountable, and restore credibility to the electoral process.
Democracy cannot thrive when political power is bought and sold. The question before us is simple: will we allow money to continue dominating our elections, or will we finally enforce the rules that ensure every vote and every voter matters?
Gabriel Atumeyi is a political analyst and commentator, writes from Abuja
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