Dele Momodu, renowned journalist and politician, has unveiled shocking details about the financial realities of Nigeria’s 2023 presidential primaries. Speaking on the Key to Keys podcast, Momodu disclosed that a former presidential candidate paid an estimated $23.2 million in bribes to delegates. This staggering figure was calculated based on $30,000 allocated to each of the 774 delegates during the primaries.

Reflecting on his own experience in the 2023 elections, Momodu revealed spending N50 million without securing a single vote. He described his campaign as a hard lesson, citing the pervasive influence of wealth in Nigerian politics. “Experience is the best teacher,” Momodu said. “There are powerful forces—almost like principalities—that control Nigeria. Unless a major political party chooses me through consensus as the best candidate for change, I wouldn’t consider running again.”

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Momodu criticized the financial burden of political participation, citing exorbitant costs for nomination forms, which ranged from N50 million to N100 million in recent elections. He lamented the monetization of votes, emphasizing that genuine support was overshadowed by the influence of money.

Highlighting the disparity in access to resources, Momodu pointed out the advantage held by political elites, particularly those from oil-rich regions, who have access to vast, untraceable cash reserves. “In Nigeria, people control raw cash that isn’t even in the banks. If politicians need hundreds of millions to secure power, they can find it. For people like me, where would I even begin?” he questioned.