Politicians sell assets ahead of 2027 elections

A growing number of Nigerian politicians are reportedly liquidating their assets, particularly properties in high-value areas, to finance their campaigns for the 2027 general elections. This trend is becoming increasingly noticeable as the official campaign period approaches, with the Independent National Electoral Commission (INEC) scheduling the start of campaigns for presidential and National Assembly elections for August 19, 2026. Campaigns for governorship and State House of Assembly elections are slated to begin on September 9, 2026.

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I have heard of some politicians liquidating their assets to fund campaign bids and primaries. I know of some in the Lekki axis, and the values are in hundreds of millions of naira.

Real estate agents and informed stakeholders have confirmed that politicians are selling properties, some located in exclusive districts like Lekki and Ikoyi in Lagos, and Maitama in Abuja. Tokunbo Akinhanmi, Publicity Secretary of the Lagos State branch of the Nigerian Institution of Estate Surveyors and Valuers, stated that some politicians are liquidating assets worth hundreds of millions of naira to fund their campaign bids and primaries. She noted that while property sales are common for investment purposes, the current trend is driven by the urgent need for campaign funds.

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Yes, it’s not new. Because once we are in this kind of season, politicians mobilise a lot of resources. So whatever assets they have, they use to mobilise resources. It could be property, it could be shares, it could be that serious. Because electioneering in Nigeria is very expensive.

Dr. Muda Yusuf, Founder and Chief Executive Officer of the Centre for the Promotion of Private Enterprise, explained that the high cost of elections in Nigeria necessitates such resource mobilization. He indicated that politicians utilize various assets, including properties and shares, to fund their campaigns, which involve extensive public engagement and mobilization efforts. Yusuf also cautioned that the increased volume of property sales, particularly if conducted as distress sales due to urgent financial needs, could potentially depress property prices. However, he added that the extent of this impact on the broader market would depend on the overall number of properties being sold.

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The implications are that if they sell, perhaps it can crash some prices, like properties. We have many of them selling properties, and they do so through what we call distress sales because they need the money urgently. And if somebody needs money urgently, it cuts the price of that asset.