Obi renders campaign expenses account, has balance of N19m from N1.4b donation 

 

Labour Party presidential candidate in the 2023 election, Peter Obi, has rendered an account of donations received during the election.

Obi, through the chairwoman of the fundraising team, Aisha Yesufu revealed that N596m were received from party supporters, including the Obidient movements, and Nigerians across the globe, while Obi contributed  N800 million to the campaign funds. This raised the total collection to nearly N1.4 billion. 

According to the account expenditure, payment for legal fees arising from the contentious election cost N744.5m

Yesufu said, “Accountability and transparency are very critical and important. We raised N595,976,994 in donations through four financial institutions, including Zenith Bank and Heritage Bank. We also received N800m from the candidate (Obi). Although some money came in one week to the election, so many people and vendors put so much into the campaign without demanding payment.

“We designed a strategic blueprint focused on channelling the movement energy and support for Peter Obi and Datti Ahmed by providing direct and indirect support to over 100 groups across all 36 states in Nigeria. We also deployed media-related campaigns that reached over 11 million people, leveraging over 40 radio stations, community outreach, and social media.”

Contrary to reports that Obi did not pay his polling unit agents, Yesufu said they were mobilised with N324m.

 She also expressed regret that they could not properly utilise television adverts for their campaign because of financial constraints.

“So, out of these things, campaign materials worth N258,374,330 were procured and distributed across the 36 states and also in Abuja. Media, including radio broadcasts, was at the cost of N16,432,867.

“For the election promotion expenses, we had N10,808,948 and deployed N744,500,000 to cover legal expenses. We thank everyone who donated in cash and kindness.”

Obi polled 6,101,533 votes to emerge third in the February 25, 2023 presidential election won by Bola Tinubu of the ruling All Progressives Congress.

Obi and the LP, however, rejected the election results as announced by the Independent National Electoral Commission.

He launched a legal battle and challenged the poll results up to the Supreme Court, which eventually  on October 26, 2023 upheld Tinubu’s election after 171 days of litigation.