Dele Momodu, a prominent member of the Peoples Democratic Party (PDP) and publisher of Ovation International Magazine, has exposed the extent of financial influence in Nigeria’s political system, claiming that a presidential aspirant paid $23.2 million to secure delegate votes during the 2023 PDP primaries.
Speaking on the Key to Keys Show podcast hosted by Eden Oasis, Momodu, who also contested in the primaries, lamented the monetization of Nigeria’s politics and described the systemic barriers faced by aspirants without significant financial backing.
Momodu shared his personal experience, revealing that he spent N50 million on the party’s nomination form but failed to win a single delegate’s vote because he refused to engage in financial inducement.
He expressed regret over the wasted investment, saying: “This could have gotten me a property, but it was a waste. Nobody voted for me—not even one vote—because everything was monetized.”
He detailed how one aspirant allegedly distributed $30,000 to each of the 774 delegates at the primaries. “There was one of the candidates who paid as high as $30,000 per delegate. How do you compete with that?” Momodu asked.
According to Momodu, the financial resources available to some Nigerian politicians are staggering, making it nearly impossible for candidates like him to compete.
“They have stolen the country blind and are doing all kinds of deals to make money, especially those in oil-rich areas. These politicians control raw cash like no other country in the world,” he alleged. Momodu also claimed that much of this wealth is untraceable because it is held outside the formal banking system.
“If you ask some politicians to raise $500 million today, they will find it. But for people like us, where will we start?”
Reflecting on his experience, Momodu vowed not to seek a presidential ticket again unless he is adopted as a consensus candidate.
“Experience is the best teacher. Unless a major political party adopts me through consensus and recognizes that I’m best suited to lead Nigeria, I won’t contest again,” he declared.
Momodu’s remarks highlight the urgent need for political reforms in Nigeria, as he emphasized the harmful impact of money politics on governance and leadership selection.
“It’s not just about winning; it’s about building a system where integrity and competence matter more than cash,” he said.
The revelations have sparked widespread debate about the pervasive role of money in Nigerian politics and the barriers it creates for aspirants without financial clout.
