Renowned journalist and former presidential aspirant, Dele Momodu, has revealed the high financial stakes and systemic challenges he faced during the 2022 Peoples Democratic Party (PDP) presidential primary.
Momodu disclosed that he spent fifty million naira to purchase the party’s nomination form but failed to secure even a single delegate vote.
Speaking on the Key to Keys podcast show, Momodu criticized the heavy monetization of Nigeria’s political system, alleging that some aspirants paid as much as $30,000 per delegate to secure votes. With 774 delegates in total, he lamented the near impossibility of competing against such financial influence.
“There was one of the candidates who paid as high as $30,000 per delegate, and we had 774 delegates,” he said. “How do you compete with them? They have stolen the country blind and are doing all kinds of deals to make money, especially those in the oil-rich areas.”
Momodu also highlighted the vast sums of untraceable cash in circulation among politicians, particularly those from oil-producing regions. “The bulk of their money is not in any bank, so they are not traceable. If today you ask some politicians that you need $500 million to become President, they will find it.”
Reflecting on his loss, Momodu expressed regret, noting that the N50 million spent on the nomination form could have been better invested. “That money could have gotten me a property, but it was a waste. Nobody voted for me – not even one vote, because everything was monetized,” he said.
He declared that he would not contest again unless adopted as a consensus candidate. “Unless a major political party decides to adopt me as the best suited to change and lead Nigeria, I won’t bother,” Momodu stated.
