Where will Tinubu, Atiku and Obi's multi-billion naira campaign funds come from?, By Festus Adedayo
…the kind of massive corruption that goes into campaign finance should be of interest to Nigerians. This is why we need to worry about where Tinubu, Atiku and Obi, Nigeria's top three presidential candidates and governors, will get the multi-billion naira funds they need for the February 2023 elections. .
Finally, the month has arrived. September is the launch month for the Nigerian presidential campaign, in preparation for the February 2023 general elections. Dolly Parton coat in many colors. And much more. This is a season where lies would be sold for a penny and frenziedly bought. It is also a time of psychological warfare where the hearts of voters will become the target of desperate politicians. More fundamentally, it will be a season to witness the ascendancy of a massive multi-billion naira campaign industry, which would rival the national budget. So how will Bola Tinubu, Atiku Abubakar, Peter Obi and presidential candidates from other political parties in Nigeria fare in the frantic race to spend more? Where are each of them hoping to get this jaw-dropping campaign funding from?
Funding or campaign financing is a major and important part of the electoral process. It is how, when and where political parties and individuals vying for elected office will raise and spend money with which to influence political votes in their favour. In developed democracies, the financing of electoral campaigns is a big problem that concerns the state. Indeed, it involves major ethical issues that can compromise the integrity of the electoral process.
Everywhere in the world, the electoral campaign is not a snack. Because money is both spiritual and human; money has a mouth, speaks and is a major voice in electoral politics. Indeed, there is a growing personalization and humanization of money like that which ensures, in the democratic process, that, as the Americans say, it's not over until the fat lady sings. Elections require considerable expense. For example, research shows that there has been a phenomenal and massive increase in funds allocated to campaign finance in the United States. Between the years 2000 and 2012, total spending on US presidential elections is estimated to have almost doubled, from $3.1 billion to $5.8 billion. These funds were spent on staffing, campaign offices across the country, advertising, travel, logistics and more.
To preserve the integrity of the electoral process, laws are enacted to guide and prevent the infiltration of "bad money" into elections. In America and other democracies, violations of these laws carry severe penalties. While private funding of political candidates and political parties by individuals seems innocuous enough, it is mostly a harmless conduit for funneling the proceeds of illicit drugs and slush funds into the system. Often, too, it offers individuals and corporations the opportunity to hold governments by their esophagus. They do this by giving huge sums of money to candidates and political parties during the election campaign and extracting pledges from them for state favors in policy-making and access to business when they are elected. This is why in the United States, there is a demarcation between so-called "hard" and "soft" money in campaign finance. What...
…the kind of massive corruption that goes into campaign finance should be of interest to Nigerians. This is why we need to worry about where Tinubu, Atiku and Obi, Nigeria's top three presidential candidates and governors, will get the multi-billion naira funds they need for the February 2023 elections. .
Finally, the month has arrived. September is the launch month for the Nigerian presidential campaign, in preparation for the February 2023 general elections. Dolly Parton coat in many colors. And much more. This is a season where lies would be sold for a penny and frenziedly bought. It is also a time of psychological warfare where the hearts of voters will become the target of desperate politicians. More fundamentally, it will be a season to witness the ascendancy of a massive multi-billion naira campaign industry, which would rival the national budget. So how will Bola Tinubu, Atiku Abubakar, Peter Obi and presidential candidates from other political parties in Nigeria fare in the frantic race to spend more? Where are each of them hoping to get this jaw-dropping campaign funding from?
Funding or campaign financing is a major and important part of the electoral process. It is how, when and where political parties and individuals vying for elected office will raise and spend money with which to influence political votes in their favour. In developed democracies, the financing of electoral campaigns is a big problem that concerns the state. Indeed, it involves major ethical issues that can compromise the integrity of the electoral process.
Everywhere in the world, the electoral campaign is not a snack. Because money is both spiritual and human; money has a mouth, speaks and is a major voice in electoral politics. Indeed, there is a growing personalization and humanization of money like that which ensures, in the democratic process, that, as the Americans say, it's not over until the fat lady sings. Elections require considerable expense. For example, research shows that there has been a phenomenal and massive increase in funds allocated to campaign finance in the United States. Between the years 2000 and 2012, total spending on US presidential elections is estimated to have almost doubled, from $3.1 billion to $5.8 billion. These funds were spent on staffing, campaign offices across the country, advertising, travel, logistics and more.
To preserve the integrity of the electoral process, laws are enacted to guide and prevent the infiltration of "bad money" into elections. In America and other democracies, violations of these laws carry severe penalties. While private funding of political candidates and political parties by individuals seems innocuous enough, it is mostly a harmless conduit for funneling the proceeds of illicit drugs and slush funds into the system. Often, too, it offers individuals and corporations the opportunity to hold governments by their esophagus. They do this by giving huge sums of money to candidates and political parties during the election campaign and extracting pledges from them for state favors in policy-making and access to business when they are elected. This is why in the United States, there is a demarcation between so-called "hard" and "soft" money in campaign finance. What...
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