According to a conservative estimate by THISDAY, the All Progressives Congress (APC) might earn more than N30 billion from the sale of nomination and expression of interest forms, providing the governing party immense firepower in the 2023 general election.
“With a massive war chest expected from form sales, the governing party would have a commanding edge in the field provided the resources are effectively used,” a political expert who requested anonymity told THISDAY last night.
The presidential nomination form in the APC costs N100 million; the governorship form costs N50 million; the Senate costs N20 million; the House of Representatives costs N10 million; and the House of Assembly costs N2 million.
According to a breakdown of the estimated money from the election process, the APC may earn about N2.3 billion from the sale of presidential forms, N2.8 billion from the sale of gubernatorial forms, and over N6.54 billion from the sale of senatorial forms. The selling of forms to at least three House of Representatives hopefuls from each of the country’s 360 federal seats may net the party N10.8 billion. It might also earn N7.93 billion from the selling of forms to a minimum of four hopefuls contesting for each of the country’s 991 House of Assembly seats.
These projections take into account the number of likely candidates in each category of political office.
So far, 23 presidential hopefuls have expressed interest in running for office under the ruling party, and the APC expects to earn N2.3 billion from the selling of presidential forms. As additional competitors enter or drop out of the race, the statistics will either rise or fall.
With gubernatorial elections taking place in 28 states next year, THISDAY projected that each state would have at least two contestants, and at N50 million per aspirant, the party would earn N2.8 billion.
The country has 109 senatorial seats, and with at least three applicants from each senatorial district and forms selling for N20 million, the party could make N6.54 billion.
The 360 House of Representatives seats, with an expected three aspirants per federal constituency and the form costing N10 million, net the party N10.8 billion.
Furthermore, with an expected four persons collecting nomination forms to fight the primary election for each of the 991 House of Assembly seats, the APC is likely to earn N7.93 billion at N2 million each form.
The vice president, Professor Yemi Osinbajo, Asiwaju Bola Tinubu, Governor Kayode Fayemi of Ekiti State, Governor Yahaya Bello of Kogi State, Governor David Umahi of Ebonyi State, Governor Muhammed Abubakar of Jigawa State, Governor Ben Ayade of Cross River State, Senator Rochas Okorocha, and former Senate President Ken Nnamani are among those who have indicated
Former APC National Chairman, Adams Oshiohmole; former Governor of Ogun State, Senator Ibikunle Amosun; Minister of Transportation, Rt. Hon. Chibuike Amaechi; Minister of Labour and Employment, Dr. Chris Ngige; Minister of Science and Technology, Dr. Ogbonnaya Onu; Minister of Niger Delta, Senator Godswill Akpabio; Senate President, Dr. Ahmed Lawan; Minister of State for Education, Chukwu
Political observers say that with over N30 billion in its coffers, the governing party would enter the poll in a position of strength against the main opposition Peoples Democratic Party (PDP), which is working hard to dethrone the APC.
Senator Abdullahi Adamu, National Chairman of the APC, recently justified the high cost of the party’s nomination forms, stating the party had no remorse about pricing the presidential form for N100 million. Adamu added that the APC came up with the plan to dissuade spoilers and unqualified candidates from running in the contest.
He stated that the party completed its research before deciding on the number, and that the cost must be significant due to the necessity to gather enough finances to hold primaries and effectively prosecute the next elections.
Adamu stated that the party was aware that some of the applicants were not genuine competitors but rather troublemakers.
According to a source, around half of the presidential candidates may have paid the requisite fees and gathered the forms, while others are said to be hunting for money to beat the deadlines.
According to an insider, the party’s National Publicity Secretary, Felix Morka, extended the deadline for the selling of expressions of interest and nomination forms for the 2023 general election to May 10 owing to the “long holiday.”
According to a new timeline announced by the party’s National Organising Secretary, Sulaiman Argungu, the deadline for submitting full applications and related papers has been extended to May 11.
“I will enter the presidential race because everyone knows I’m a highly competent person to handle the job,” the Jigawa State governor was claimed to have told APC stakeholders in Dutse on Tuesday. He allegedly stated that his colleagues put pressure on him to run for president.
There are also rumors that the governor of Kebbi State, Atiku Bagudu, may declare his candidacy and choose his form shortly.
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