Dele Momodu, publisher of Ovation Magazine, has expressed regret over his decision to spend approximately N50 million on the presidential nomination form for the Peoples Democratic Party (PDP) in 2022. In a recent interview with Eden Oasis, published on Sunday, Momodu reflected on the heavily monetized nature of the party’s primary election.
He revealed that one candidate reportedly distributed $30,000 to each of the 774 delegates who participated in the voting process. “Experience is the best teacher,” Momodu stated, acknowledging the significant financial barriers that exist within Nigeria’s political landscape. “There are powers that can be described as principalities that control Nigeria.”
Momodu emphasized that he would only consider running for a presidential ticket if he were adopted as a consensus candidate by a major political party. “Unless a major political party decides to adopt me—where there is a consensus that Dele Momodu is best suited to lead Nigeria—I will not pursue it,” he said.
Reflecting on his past experience, he lamented, “N50 million could have bought me a property. It was a waste. I didn’t receive a single vote because everything was monetized.” He underscored the challenges of competing against candidates who have amassed significant wealth, particularly from oil-rich regions, stating, “You can’t compete with them. They have drained the country and are engaging in all kinds of deals to make money.”
Momodu pointed out that much of their wealth is untraceable, existing outside the banking system. “If you told some politicians today that they need $500 million to become president, they would find it,” he remarked. “For people like me, where would I even start?”
During the PDP primary, Momodu, who was among the presidential hopefuls, failed to secure any votes. Atiku Abubakar ultimately won the party’s nomination with 371 votes, defeating his closest rival, Nyesom Wike, who garnered 237 votes. Abubakar later lost to Bola Tinubu of the All Progressives Congress (APC) in the 2023 presidential election.
Other candidates, including former Senate President Bukola Saraki, who received 70 votes, and Bala Mohammed, the governor of Bauchi, who received 20 votes, also faced significant challenges. Udom Emmanuel, the former governor of Akwa Ibom, secured 38 votes, while Pius Anyim, the former secretary to the government of the federation, received 14 votes. Notably, both Momodu and businessman Sam Ohuabunwa, along with former Ekiti Governor Ayodele Fayose, received zero votes.