Electoral Act raises presidential campaign limit to N10bn

Nigeria’s campaign finance has increased significantly after the National Assembly doubled the spending ceiling for presidential candidates to N10 billion under the new Electoral Act 2026, ahead of the 2027 general election.

The revised law, signed by President Bola Tinubu on February 18, increases the governorship spending limit from N1 billion to N3 billion.

It also raises the cap for Senate candidates from N100 million to N500 million, while House of Representatives hopefuls can now spend up to N250 million, up from N70 million.

Under the previous Electoral Act 2022, presidential candidates were restricted to N5 billion.

The new legislation, however, reflects what lawmakers described as prevailing economic realities and rising campaign costs.

According to Senate Leader Opeyemi Bamidele, the upward review retains statutory limits to regulate election financing while acknowledging inflationary pressures.

The law also adjusts spending thresholds for state assembly candidates from N30 million to N100 million.

Area council chairmanship candidates can now spend N60 million, up from N30 million, while councillorship candidates are capped at N10 million, double the previous N5 million limit.

Beyond campaign financing, the Act introduces stiffer penalties for electoral offences.

Bamidele said offenders involved in vote buying, impersonation or result manipulation face two years’ imprisonment or fines ranging between N500,000 and N2 million, or both.