Nigeria's ruling political party generates 31.45 billion Naira from sale of nomination forms

Nigeria's ruling political party, All Progressive Congress rakes in over 30 billion NGN from the sale of nomination forms and expression of interest. 

The All Progressives Congress (APC) in Nigeria has, so far, raked in over 30 billion NGN from the sale of nomination and expression of interest forms, giving the ruling party enormous firepower to face the 2023 general election. 

Breakdown and Key Metrics

The presidential nomination form for the APC goes for 100 million NGN; the governorship form is sold for 50 million NGN; Senate, 20 million NGN; House of Representatives, 10 million NGN; and House of Assembly, 2 million NGN.

A rundown on the expected revenue from the electoral process shows APC may have generated over 2.3 billion NGN from the sale of presidential forms; 2.8 billion NGN from the sale of governorship forms; and roughly 6.54 billion NGN from the sale of senatorial forms.

The party could make about 10.8 billion NGN from the sale of forms to a minimum of three House of Representatives aspirants from each of the country’s 360 federal constituencies. And it could generate about 7.93 billion NGN from the sale of forms to a minimum of four aspirants vying for each of the 991 House of Assembly seats across the country.

So far, 23 presidential aspirants have indicated interest in the presidency under the ruling party and APC is expected to generate 2.3 billion NGN from the sale of presidential forms. As more contenders join the race or drop out of the race, the figures would either go up or come down.

With governorship elections also holding in 28 states next year with at least two aspirants from each of the states, and at 50 million NGN per aspirant, the party stood to rake in 2.8 billion NGN.

For the Senate, there are 109 senatorial seats in the country, and with at least three aspirants from each senatorial district, and forms going for 20 million NGN, the party may rake in 6.54 billion NGN. The 360 House of Representatives seats, with an estimated three aspirants per federal constituency, and the form going for 10 million NGN, give the party about 10.8 billion NGN. Currently, there are 351 aspirants for this office.

In addition, with an estimated four people picking nomination forms to contest in the primary election for each of the 991 House of Assembly seats, at 2 million NGN per form, APC is likely to rake in 7.93 billion NGN. There are 1,505 aspirants for this office.

Takeaway

Following the ruling party generating over 30 billion NGN from the sale of nomination forms, the political party may appear to be heading into the election from a position of strength against its oppositions.