The maximum amount of money political parties and candidates can spend ahead of the 2023 presidential election is N5 billion, the Independent National Electoral Commission (INEC) says.
This is contained in the guidelines on the finances and election expenses for political parties and their candidates approved for publication and release by INEC.
“The commission approved the publication and release of the guidelines for the conduct of political rallies, processions and campaigns, as well as that of finances and election expenses of political parties, candidates and aspirants,” Festus Okoye, INEC’s National Commissioner and Chairman, Information and Voter Education Committee, said in a press release on Thursday.
Okoye added that the commission uploaded the two documents on its website and social media handles, while copies would be made available to political parties, civil society groups, the media and other critical stakeholders.
While INEC fixed the maximum election expenses for presidential candidates at N5 billion, that of candidates for governorship elections was pegged at N1 billion.
Also, the maximum amount of money or other assets that an individual, a group of individuals or an entity can donate to a political party or aspirant for an election is N50 million.
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