Political Financing and Democratic Consolidation in Nigeria’s Fourth Republic A Public Perception Survey of Edo South Senatorial District

Abstract

Political expenses in Nigeria are rising above manageable proportions, creating an uneven playing field in election contests. Electioneering expenditure increases at every passing general election year. The figures are quite shocking and the requirement numerous in both explicit and implicit capacities. Apart from the mandatory fee for nomination forms is the unregulated campaign finance, administrative charges, formalization of intent and all such levies which combine to make election a game won by the highest bidder. This may not be a burden to many especially those who had earlier corruptly enriched themselves as participants in previous governments. The less financially fortunate ones are however either priced out of the game, get neck deep in debt or pitch tent with sponsors often under conditions that enslave them. As a political entrepreneur, the sponsor renders his supports in the character of investment by offering to party and candidates his ‘ability’ and then claim ownership, control and manipulation of party and voting structure in return for economic benefit. Money is fast replacing the rescinding electorate input in electioneering; therefore, the electorates don’t constitute the focal points for service on attainment of office, rather attention is on the ‘much’ that appropriates aspirants to power; raising the question of ‘buying to serve?’ The study is tailored from the theoretical perspective of the investment theory in politics, and aims to elicit the perception of the public on political finance, as well as interrogate the phenomenon as a prime mover of political amoralities in public offices via survey research as distinct from extant literatures. Findings are that the cost of elective public offices affects recruitment and undermines democratic consolidation in Nigeria. It poses higher cost to governance and affects negatively its developmental trajectory, as well as impacts negatively on the ethical consideration of the individuals seeking offices.