DELE Momodu, the publisher of Ovation Magazine, recently expressed deep regret over spending ₦50 million to purchase the presidential nomination form of the Peoples Democratic Party (PDP) in 2022. Speaking in a recent interview on Eden Oasis, Momodu criticised the highly monetised nature of Nigeria’s political primaries, revealing that an aspirant distributed $30,000 to each of the 774 delegates who participated in the election. The journalist-turned-politician stated that he would no longer seek any party’s presidential ticket unless he is adopted as a consensus candidate. He remarked: “Experience is the best teacher. I’ve realised that principalities control Nigeria. Unless a major political party adopts me as a consensus candidate, one where everyone agrees I’m the best fit to lead and change the nation, I won’t contest.”
Momodu expressed deep concern over the pervasive monetisation of political party primaries, emphasising that it not only excludes honest and visionary candidates from participating in the democratic process but also erects formidable barriers to the emergence of competent leaders capable of tackling Nigeria’s pressing challenges. He described this systemic issue where financial resources often overshadow merit, vision, and integrity in determining electoral outcomes as a significant hindrance to the country’s democratic development. He highlighted the glaring impact of this problem during recent elections in Edo and Ondo states, where the practice of vote-buying was alarmingly blatant, further eroding public trust in the electoral process. Politicians, driven by desperation to secure party tickets or win elections, spend exorbitant sums to influence delegates and voters. This financial arms race creates a vicious cycle: once elected, these politicians focus on recouping their investments, often through corrupt practices such as embezzlement, awarding inflated contracts, and mismanaging public resources.
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This entrenched culture of monetised politics, as Momodu warned, perpetuates systemic corruption and deprives Nigerians of the transparent and effective governance they urgently need. By prioritising personal gain over public service, this approach undermines the core values of democracy, leaving citizens disillusioned and eroding faith in the nation’s political system. To address this critical challenge, he called for a collective effort to reform the electoral process and promote leadership based on merit, vision, and accountability rather than financial influence. It is difficult to dispute Momodu’s claim that the monetisation of elections fundamentally undermines democracy by turning contests into bidding wars. The process denies voters the opportunity to make informed decisions and rewards those with the deepest pockets, rather than candidates with the best ideas or the most credible track record. Instead of fostering inclusivity and allowing fresh voices to emerge, the system discourages capable individuals who lack financial resources from participating, leaving the political arena dominated by wealthy power brokers.
Despite Nigeria having laws to regulate campaign financing and enforce ethical conduct during elections, these laws are largely ignored. Agencies such as the Independent National Electoral Commission (INEC), Economic and Financial Crimes Commission (EFCC) and other security bodies are either unable or unwilling to enforce these regulations effectively. As a result, vote-buying, financial inducements and other electoral malpractices continue unabated, undermining trust in the democratic process. This failure to enforce rules has created an uneven playing field where honest and financially disadvantaged candidates are sidelined, while those with questionable wealth and influence dominate. Momodu described this situation as a betrayal of the country’s democratic ideals and a hindrance to meaningful progress.
Momodu’s reflections underscore the urgent need for systemic reform to restore integrity to Nigeria’s political process. Strengthening enforcement mechanisms, implementing stricter campaign finance laws, and increasing accountability for political actors are critical steps to reversing the trend. Certainly, stakeholders, including the government, civil society, and the judiciary must work together to create a transparent and equitable electoral system. This is essential not only for the emergence of competent leaders but also for rebuilding public confidence in Nigeria’s democracy. We agree with Momodu’s perspective and strongly urge Nigerian politicians to critically re-examine the character of the country’s politics, particularly the entrenched and unsustainable culture of money-driven and predatory practices. The dominance of money politics has not only fuelled systemic corruption but has also emerged as one of the most significant barriers to Nigeria’s democratic advancement. This destructive trend undermines the principles of accountability, transparency and public service, eroding the very foundations of good governance.
The current trajectory is unsustainable and demands urgent change. The corrosive influence of financial power in politics has resulted in arrested development, with leaders often prioritising self-interest and financial recovery over public purpose. Governance, which should serve as a platform for addressing societal challenges and advancing collective well-being, has instead been reduced to a tool for personal enrichment. This lack of focus on public purpose perpetuates inequality, stifles innovation, and prevents the formulation of policies that could drive meaningful development. Nigeria cannot achieve genuine growth or sustainable progress without a fundamental shift away from this toxic culture. To build a robust and thriving democracy, the country must embrace a new political ethos rooted in merit, vision, and service to the people. This transformation requires collective action, including stringent electoral reforms, civic education to discourage vote-buying, and the promotion of accountability at all levels of leadership. Only by breaking free from the shackles of money politics can Nigeria realize its full potential and secure a prosperous future for all its citizens.
