Nigerian politicians reportedly selling properties to fund 2027 election campaigns
via Punch Nigeria7 min read
Reports indicate that some Nigerian politicians are selling properties in prime locations, such as Lekki, Ikoyi, and Maitama, to fund their campaigns for the 2027 general elections. This trend is observed a few months before official campaigns are set to begin on August 19, 2026, for presidential and National Assembly elections, and September 9, 2026, for governorship and State House of Assembly elections. Experts, including Tokunbo Akinhanmi, Publicity Secretary of the Lagos State branch of the Nigerian Institution of Estate Surveyors and Valuers, and Dr. Muda Yusuf, Founder and CEO of the Centre for the Promotion of Private Enterprise, confirm this practice, citing the high cost of elections in Nigeria. Yusuf suggests that this could lead to a crash in property prices due to "distress sales" by politicians needing urgent funds. Toye Eniola, Executive Secretary of the Association of Housing Corporations of Nigeria, attributes this to the commercialization of politics, where individuals are willing to sell assets to gain political office with the expectation of recouping their investment. Peter Adobamen, Chairman of Exclusive Estates, notes this as a cyclical, four-year trend where politicians use real estate to store value and then liquidate it for campaign capital. Israel Ihaza, Founder and CEO of Oikus, emphasizes that while selling personal assets to fund campaigns is not unusual, transparency, lawfulness, and proper disclosure of campaign financing are crucial.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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