2027 Elections: Presidential, Gov Candidates Face N571bn Spending Limit

No fewer than 146 candidates contesting the 2027 presidential and governorship elections could spend a combined maximum of N571 billion under the campaign finance limits contained in the Electoral Act 2026.

The figure covers 19 presidential candidates and 127 governorship candidates expected to contest elections across 28 states.

Under the new law, each presidential candidate is permitted to spend up to N10 billion during the campaign period, giving the presidential candidates a combined ceiling of N190 billion.

For governorship candidates, the maximum allowed expenditure is N3 billion per candidate. With 127 candidates currently listed in the race, their combined spending limit stands at N381 billion.

Together, the two categories produce a possible campaign expenditure ceiling of N571 billion. However, the figure does not mean that the candidates will actually raise or spend that amount. It only represents the highest amount they are legally allowed to spend if every candidate reaches the prescribed limit.

The new spending rules came into focus as the Independent National Electoral Commission released the personal details and credentials of the 19 presidential candidates and their running mates ahead of the 2027 election campaigns.

INEC has scheduled the presidential and National Assembly elections for January 16, 2027, while governorship and State House of Assembly elections will take place on February 6, 2027.

The governorship election will be held in 28 states. Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo and Osun are not included because their governorship elections are held on a separate electoral timetable.

The latest available election data puts the number of governorship candidates at 127. The All Progressives Congress and Peoples Democratic Party account for 28 candidates each, while the African Democratic Congress has 21.

The Labour Party has 16 candidates, while the Nigeria Democratic Congress has nine. The Social Democratic Party has six, with other political parties making up the remaining candidates.

The new Electoral Act has raised campaign spending limits compared with the previous rules. A senatorial candidate can spend up to N500 million, while a House of Representatives candidate has a N250 million ceiling.

Candidates seeking seats in State Houses of Assembly and Area Council chairmanship positions can spend a maximum of N100 million each. Area Council councillorship candidates have a N10 million limit.

The law also restricts how much individuals can donate to political candidates. A single donor cannot give more than N500 million to one candidate, meaning even a presidential candidate with a N10 billion spending limit cannot receive the entire amount from one person.

A candidate who knowingly exceeds the permitted spending limit may face a fine equal to one per cent of the applicable limit, imprisonment for up to 12 months, or both.

INEC is responsible for monitoring campaign finances and ensuring that political parties and candidates comply with the rules. Anti-corruption agencies are also expected to assist with monitoring and enforcement.

The new limits have raised concerns among civil society groups, who say the success of the rules will depend on how well spending is tracked and whether offenders are actually punished.

Civil society representatives have called for closer monitoring of television and newspaper advertisements, billboards, social media promotions, campaign events, logistics, staff payments and other expenses linked to political campaigns.

They also want stronger penalties for candidates and political parties that breach the limits, arguing that weak enforcement could allow wealthy politicians to gain an unfair advantage.

Another concern is the possibility that excessive campaign spending could increase corruption. Critics say politicians and their financial backers may seek government contracts or other benefits in return for the money provided during elections.

The campaign finance debate is also taking place alongside new warnings from the National Broadcasting Commission to broadcasters, online publishers, bloggers and other content creators ahead of the 2027 elections.

The NBC has called on media organisations to maintain fairness and accuracy when covering political parties and candidates. It warned against publishing unverified allegations, misinformation, hate speech and material capable of causing violence.

Broadcasters have also been advised to clearly separate political advertising from news and editorial content and to keep proper records of political airtime given to candidates and parties.

The commission further warned against announcing unofficial election results or using unverified figures to suggest that a particular candidate is leading.

As campaigns continue, the enforcement of the N571 billion spending ceiling will depend on the ability of INEC, anti-corruption agencies, the media and civil society organisations to track political spending and ensure that candidates comply with the law.