ABUJA — The limit placed on campaign funds has been significantly increased by lawmakers with the presidential category move from 1 billion to 15 billion, a 1400% raise.
Likewise, the financing of the gubernatorial elections, previously N200 million was moved to N5 billion, a 2,400 per cent hike.
For senatorial elections, the limit was moved from N40 million to N1.5 billion, a 2,400 per cent increase, and for elections into the House of Representatives, there was a 2,400 per cent increase, as the limit was raised from N20 million to N500 million.
The State House of Assembly limit has also been increased from N10 million to N50 million, resulting in a 400 per cent increase.
Electoral laws guide the amount of money used for campaigns by political parties and their candidate who run for any public office.
Limits on what a politician can spend are set by the electoral act and are intended to be monitored.
According to INEC political parties are expected to “gives a report of the breakdown of money spent by or on behalf of the party on elections after six months.
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