2027: Governorship Aspirants Spend Up to N30bn on Primaries, Says EFCC Chairman
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the rising cost of elections in Nigeria, revealing that some governorship aspirants spend between N20 billion and N30 billion to secure party nominations and electoral victories.
Olukoyede made the disclosure on Wednesday while delivering the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin, Kwara State.
Speaking on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” the EFCC chairman warned that the increasing monetisation of the electoral process poses a serious threat to democratic governance and fuels corruption in public office.
According to him, the enormous financial resources deployed during elections often place elected officials under pressure to divert public funds after assuming office in an attempt to recoup their investments.
“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process,” Olukoyede said.
“Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest.”
He stressed that the high cost of elections remains one of the major drivers of corruption in governance and vowed that the anti-graft agency would continue to combat vote-buying and other forms of electoral inducement capable of undermining the integrity of elections.
The EFCC chairman disclosed that the commission had arrested several individuals across the country over vote-buying and related electoral offences, with a number of convictions already secured.
According to him, those prosecuted include politicians, electoral officials and other individuals found culpable of electoral misconduct.
Olukoyede warned that impunity during elections could erode public confidence in democracy and threaten national stability, insisting that there must be no sacred cows in the enforcement of electoral laws.
As part of efforts to curb electoral malpractice ahead of the 2027 general elections, he revealed that the commission plans to deploy drones and other technological tools to monitor polling units and track incidents of vote-buying and financial inducement.
He also urged political parties and their supporters to focus on issue-based campaigns and refrain from inflammatory rhetoric capable of inciting violence.
The EFCC boss called on key stakeholders, including the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media and political actors, to work collaboratively to ensure peaceful, free, fair and credible elections in 2027.
Earlier in his remarks, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as a major threat to national security and democratic development.
He noted that credible elections are critical to national stability, economic growth and public confidence in governance, stressing the need for stronger collaboration between academic institutions and agencies responsible for safeguarding electoral integrity.
Also speaking, the Director of the Centre for Peace and Strategic Studies, Professor G.A. Animasawun, said the lecture series was conceived to provide a platform for proactive engagement on emerging threats to Nigeria’s electoral process ahead of the 2027 general elections.
According to him, the initiative is designed to bring together policymakers, security experts, electoral officials, civil society groups and scholars to develop practical solutions for peaceful and credible elections.
The event attracted representatives of security agencies, electoral bodies, civil society organisations, members of the academic community and students.