Dele Momodu, the publisher of Ovation Magazine and former 2022 presidential aspirant under the Peoples Democratic Party (PDP), has expressed regret over spending approximately ₦50 million on the party’s presidential nomination form.

Speaking in an interview on Eden Oasis, Momodu described the 2022 PDP primary as heavily monetized and revealed that one of the candidates distributed $30,000 to each of the 774 delegates who voted during the election.

Reflecting on the influence of money in Nigerian politics, Momodu lamented the difficulty of competing with wealthy candidates.

He stated that he would only consider running for president again if there is a consensus among key political figures who believe he is the best person for the role. “Experience is the best teacher,” he said, adding that unless a major party adopts him as a consensus candidate, he would not pursue another run.

Momodu also emphasized the financial power wielded by some politicians, noting that they are able to distribute huge sums of money with ease, making it nearly impossible for candidates without vast financial resources to compete.

He described Nigeria’s political process as being driven by money, which he believes is often untraceable and hidden outside the banking system.

Despite his loss in the 2022 primary, where he did not secure any votes, Momodu remains vocal about the state of Nigerian politics and the impact of money on elections.