PDP Sees Significant Revenue Boost Ahead of 2023 Elections
The Peoples Democratic Party (PDP) has recorded a substantial revenue of N11.5 billion between February and March 2023, primarily generated from the sale of nomination and expression of interest forms, as well as levies and dues from aspirants and officeholders.
A significant portion of this revenue, totaling N7.9 billion, has been allocated towards supporting state congresses, the national convention, and various campaign activities for the 2023 general elections.
A breakdown of the party’s audited financial statement, submitted to the Independent National Electoral Commission (INEC) as required by the Electoral Act, reveals the details of the revenue generated.
According to the report, income from the sale of forms for presidential, senatorial, house of representatives, and house of assembly positions accounted for the majority of the revenue.
On the expenditure side, N3.1 billion was allocated towards state congresses and the national convention, while N1.7 billion was disbursed to states and candidates involved in the elections.
Other expenses included N72.07 million for party agent allowances, N233.4 million for training, workshops, and lectures, and N166.5 million for personnel expenses. The party also spent N27.7 million on buses for campaign logistics.
The report also highlights significant expenses for travel, including aircraft charters, which totaled N693 million, as well as door-to-door mobilization efforts that received N370 million.
The audited financial statement was prepared by the PDP’s Director of Finance, Ismaila Yunusa Alkali, and signed by the Acting National Chairman, Umar Damagum. The report provides a detailed breakdown of the party’s income and expenditure for the period.
