No fewer than 146 presidential and governorship candidates currently in the race for Nigeria’s 2027 elections could collectively spend up to N571 billion under the campaign expenditure limits prescribed by the Electoral Act 2026.
The figure comprises 19 presidential candidates, each permitted to spend a maximum of N10 billion, and 127 governorship candidates, each with a campaign spending ceiling of N3 billion under Section 92 of the new Electoral Act.
The 19 presidential candidates have a combined spending ceiling of N190 billion, while the 127 governorship candidates could collectively spend up to N381 billion.
Together, the two categories have a theoretical maximum campaign expenditure of N571 billion.
However, the figure does not represent money guaranteed to the candidates or an indication that the entire amount will actually be spent. It represents the maximum amount candidates could lawfully spend if they each reached the statutory ceiling.
The development comes as the Independent National Electoral Commission published the personal particulars and credentials of the 19 presidential candidates and their running mates ahead of the 2027 elections.
The publication paved the way for the commencement of the presidential campaign on Wednesday, August 19, 2026.
According to election tracker NGelections.com, 127 candidates across 28 states are currently in the governorship race. Of the number, 122 have been nominated, four have declared their intention to contest, while one remains under monitoring.
A check on the INEC website, however, showed that the commission had yet to publish the complete list of governorship candidates. Its official 2027 election page currently states that the list “will be available soon.”
INEC has confirmed that governorship elections will be conducted in 28 states in 2027. Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo and Osun will not participate in the governorship election because they are on the off-cycle election schedule.
The commission has fixed January 16, 2027, for the presidential and National Assembly elections, while governorship and State House of Assembly elections are scheduled for February 6, 2027.
New Campaign Spending Limits
Section 92 of the Electoral Act 2026 significantly increases the statutory campaign expenditure limits compared with the previous provisions.
Under the new law, a presidential candidate may spend up to N10 billion, while a governorship candidate may spend a maximum of N3 billion.
For the National Assembly, the ceiling is N500 million for a senatorial candidate and N250 million for a House of Representatives candidate.
A State House of Assembly candidate may spend up to N100 million, while the same N100 million ceiling applies to an Area Council chairmanship candidate.
For Area Council councillorship elections, the maximum campaign expenditure is N10 million.
The law also limits individual donations to candidates. No individual donor may contribute more than N500 million to a single candidate.
Section 92 further prescribes sanctions for candidates who knowingly exceed the statutory limits.
A candidate who violates the provision may face a fine equivalent to one per cent of the permitted expenditure limit, imprisonment for up to 12 months, or both.
The provision makes compliance with campaign spending limits a statutory obligation rather than a voluntary guideline.
However, there has been no reported case of a Nigerian politician or political party being successfully prosecuted specifically for exceeding the statutory campaign expenditure limits.
When asked how INEC would enforce the new limits, the commission’s National Commissioner and Chairman of the Information and Voter Education Committee, Mohammed Haruna, said monitoring campaign finance was part of INEC’s statutory responsibility.
Anti-corruption agencies are also expected to collaborate with INEC in monitoring campaign financing and enforcing the relevant provisions.
Presidential Race
The 2027 presidential contest includes incumbent President Bola Tinubu of the All Progressives Congress, former Vice-President Atiku Abubakar of the African Democratic Congress and former Anambra State Governor Peter Obi of the Nigeria Democratic Congress, among other candidates.
INEC’s published list contains 19 presidential candidates and their running mates, with their personal information and credentials made available for public scrutiny in accordance with the Electoral Act.
Other candidates include Peoples Democratic Party candidate Sandy Onor, African Action Congress candidate Omoyele Sowore, Peoples Redemption Party candidate Donald Duke, Social Democratic Party candidate Adewole Adebayo and Allied Peoples Movement candidate Seyi Makinde.
The presidential field also includes candidates from several other political parties.
With each presidential candidate allowed to spend up to N10 billion, the 19-candidate field has a combined statutory spending ceiling of N190 billion.
127 Governorship Candidates
At the state level, 127 governorship candidates from 18 political parties are currently being tracked across the 28 states scheduled to hold governorship elections in 2027.
The APC and PDP have the largest number of governorship candidates, with 28 each, followed by the ADC with 21, Labour Party with 16 and NDC with nine.
The SDP has six candidates, while APM, PRP and Accord have three candidates each.
At N3 billion per candidate, the 127 governorship candidates have a combined statutory spending ceiling of N381 billion.
When added to the N190 billion ceiling for presidential candidates, the potential maximum expenditure rises to N571 billion.
The figure should not, however, be interpreted as the amount that will actually be spent during the election campaigns.
CSOs Raise Enforcement Concerns
Civil society organisations have raised concerns about the effectiveness of the new campaign spending limits, particularly the ability of electoral authorities to monitor expenditure and sanction violators.
The Executive Director of the Civil Society Legislative Advocacy Centre, Auwal Musa Rafsanjani, said the major challenge was not the existence of spending limits but the capacity and willingness of relevant institutions to enforce them.
He stressed that all political parties and candidates must comply with the law to ensure a level playing field.
Rafsanjani also urged the media and civil society organisations to expose candidates and political parties that violate campaign finance regulations, noting that INEC could not achieve effective monitoring alone.
Similarly, the Executive Director of the Centre for Anti-Corruption and Open Leadership, Debo Adeniran, called for cooperation among INEC, the media, civil society and anti-corruption agencies.
He said campaign advertisements, billboards, television and newspaper adverts, social media campaigns, campaign venues, procurement and payments to campaign workers could be monitored to establish the actual cost of political campaigns.
Adeniran also advocated tougher sanctions, including possible deregistration of political parties and disqualification of candidates who violate campaign finance rules.
The Country Director of ActionAid Nigeria, Andrew Mamedu, said campaign spending limits were necessary to prevent wealthy candidates from effectively buying political offices.
According to him, the major challenge remains determining the actual amount spent by candidates, particularly given the difficulty of tracking expenditure across traditional and digital platforms.
He called for stronger legal provisions and sanctions capable of deterring candidates and political parties from breaching campaign finance regulations.
NBC Warns Broadcasters
The campaign finance debate comes as the National Broadcasting Commission warned broadcasters, online publishers, bloggers and other information disseminators against spreading misinformation, hate speech, inflammatory material and other content capable of undermining peaceful elections.
The warning followed the commencement of political campaigns for the 2027 presidential and National Assembly elections on August 19.
In a statement issued by Moses Jolayemi, Technical Adviser to the NBC Director-General, Charles Ebuebu, the commission urged broadcasters to uphold accuracy, fairness, balance and professionalism throughout the electioneering period.
The NBC directed broadcasters to ensure equitable political coverage and warned against using media platforms to promote or suppress particular candidates, political parties or viewpoints.
It also cautioned against presenting unverified allegations, statistics or political claims as established facts.
The commission said allegations involving corruption, criminality, electoral manipulation and misconduct should be subjected to appropriate editorial verification before being broadcast, while the right of reply should be respected.
The NBC further warned presenters, anchors, reporters, producers and political programme hosts against presenting personal political opinions as facts, intimidating guests, suppressing opposing views or manipulating discussions in favour of particular political interests.
It stressed that broadcasters remain responsible for content aired on their platforms, including statements made by guests, callers and panellists during live programmes.
The commission also directed broadcasters to maintain accurate records of political airtime allocated to parties and candidates.
It warned against using broadcast, digital and social media platforms to disseminate inflammatory content capable of inciting violence, promoting hatred or deepening ethnic, religious, regional and political divisions.
The NBC also cautioned broadcasters and online information disseminators against projecting election results from unofficial sources.
It said official election results and declarations should only be broadcast as announced by duly authorised electoral officers.
The commission said its monitoring of political broadcasts would be intensified throughout the election period, covering political advertisements, news reports, current affairs programmes, debates, interviews, phone-ins, sponsored programmes and live broadcasts.
With the 2027 election campaigns now underway, the combination of higher statutory spending limits and concerns over enforcement is expected to keep campaign finance at the centre of Nigeria’s electoral debate.
