Presidential and governorship candidates in the 2027 general elections will collectively face a theoretical campaign spending ceiling of N571bn under the Electoral Act 2026, based on the number of candidates currently listed for the two contests.
The new law permits each presidential candidate to spend up to N10bn on the election, while a governorship candidate is allowed a maximum of N3bn. With 19 presidential candidates and 127 governorship candidates currently listed, the combined ceiling amounts to N190bn for the presidential race and N381bn for the governorship contests.
The figures mean the 146 candidates could collectively spend as much as N571bn if each reaches the statutory ceiling. The calculation, however, represents the maximum permitted expenditure and does not mean the candidates are required to spend the full amounts.
Section 92 of the Electoral Act 2026 places the N10bn ceiling on presidential candidates and N3bn on governorship candidates. It also sets limits of N500m for senatorial candidates, N250m for House of Representatives candidates and N100m for State House of Assembly candidates.
The new limits represent a significant increase from the repealed Electoral Act 2022, which had set the presidential spending limit at N5bn and the governorship ceiling at N1bn. The review has generated concerns among stakeholders over the growing influence of money in Nigerian politics.
The development comes as political parties commence full-scale preparations for the 2027 elections. The Independent National Electoral Commission has fixed January 16, 2027, for the presidential and National Assembly elections, while the governorship and State Houses of Assembly elections are scheduled for February 6, 2027.
However, enforcement of the spending limits remains a major concern. The Punch has noted that although the law prescribes penalties for breaches, the effectiveness of monitoring and enforcement remains critical in a political environment where candidates and parties have historically been accused of spending far beyond statutory limits.
Under Section 92(9) of the new Act, a candidate who knowingly exceeds the prescribed limit commits an offence and, upon conviction, is liable to a fine equivalent to one per cent of the permitted spending limit, imprisonment for up to 12 months, or both.
This translates to a potential fine of up to N100m for a presidential candidate and N30m for a governorship candidate, in addition to the possibility of imprisonment.
The new law also increases the financial threshold for donations to candidates. The maximum contribution by an individual or entity to a candidate has been raised from N50m under the 2022 law to N500m under the Electoral Act 2026, a tenfold increase.
The higher spending limits have fuelled debate over whether the new framework will strengthen transparency in election financing or further entrench money politics.
Concerns have been reinforced by recent disclosures from the Economic and Financial Crimes Commission. Reports have quoted EFCC Chairman Ola Olukoyede as saying some governorship aspirants reportedly spent between N20bn and N30bn merely to secure party tickets, figures far above the statutory campaign spending ceiling.
Meanwhile, INEC has moved to strengthen its regulatory framework ahead of the polls, unveiling draft regulations covering political party activities, campaign conduct and financial transparency. INEC Chairman, Prof. Joash Amupitan, said the proposed rules were intended to provide tighter controls and improve accountability in the electoral process.
“INEC remains a neutral umpire, but we will not be passive observers to the erosion of democratic values,” Amupitan said during a stakeholder engagement on the proposed regulations.
With the 2027 campaign season now underway, the enforcement of the new spending limits is expected to test the capacity of INEC and other relevant agencies to monitor campaign finance, compel disclosure and sanction violations.
The issue is particularly significant given concerns that prolonged political mobilisation and unofficial campaigning could push actual election expenditure beyond statutory limits, potentially giving financially stronger candidates an advantage over less wealthy contenders.
