The National Chairman of the All Progressives Congress (APC), Abdullahi Umar Ganduje, has dropped a staggering revelation that has sent shockwaves through Nigeria’s political landscape. Speaking at the party’s National Executive Committee (NEC) meeting in Abuja, Ganduje disclosed that the National Working Committee (NWC) inherited a colossal debt of N8,987,874,663 upon taking office. The high-stakes gathering, graced by President Bola Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, state governors, and other key party figures, served as the stage for this alarming financial disclosure. Ganduje attributed the massive liability to legal costs stemming from pre-election disputes, election-related lawsuits, and appeals tied to legislative, governorship, and presidential polls.
Delving into the root of the financial strain, Ganduje explained that the debts accrued from a barrage of legal engagements that have plagued the party. With some APC accounts still frozen under garnishee orders, the situation paints a grim picture of the ruling party’s fiscal health. However, efforts are underway to mitigate the damage, with the party’s National Legal Adviser, Prof. Abdul Kareem Kana (SAN), spearheading negotiations and alternative dispute resolution strategies to lighten the load. In a candid plea, Ganduje urged the NEC to step in with urgent financial support, warning that the party’s operations remain at risk without swift intervention.
This bombshell comes against the backdrop of the APC’s controversial financial moves in recent years. In April 2022, former National Chairman Abdullahi Adamu staunchly defended the party’s decision to peg its presidential nomination form at N100 million during an NEC meeting attended by then-President Muhammadu Buhari. The fee structure—N30 million for expression of interest and N70 million for nomination—drew widespread criticism, yet Adamu argued it reflected the prestige of Nigeria’s presidency. Additional fees were set at N50 million for governorship aspirants, N20 million for senatorial hopefuls, N10 million for House of Representatives candidates, and N2 million for state assembly contenders. Now, with this N8.9 billion debt looming large, questions are mounting about the sustainability of the APC’s financial strategy as Nigeria watches closely.