Politicians Sell Prime Properties to Fund 2027 Campaigns, Experts Confirm
By Aboki Forex —
With the 2027 general elections approaching, a growing number of Nigerian politicians are selling luxury properties in Lagos and Abuja to raise cash for their campaigns, according to real estate experts and industry insiders.
The Independent National Electoral Commission (INEC) has fixed August 19, 2026, as the start of official campaigns for presidential and National Assembly elections. Governorship and State House of Assembly campaigns begin on September 9, 2026. All campaigns must end 24 hours before election day.
Tokunbo Akinhanmi, Publicity Secretary of the Lagos State branch of the Nigerian Institution of Estate Surveyors and Valuers, confirmed the trend. “I have heard of some politicians liquidating their assets to fund campaign bids and primaries,” he said. “I know of some in the Lekki axis, and the values are in hundreds of millions of naira.”
Properties in Lekki, Ikoyi, and Maitama are among those listed for sale. A source familiar with the market disclosed that a politically exposed person recently sold a property in the Lekki-Chevron area for N150 million. Another massive property in Ibeju-Lekki, spanning several hectares, is being offered in serviced plots, though a buyer has not yet been found.
Dr Muda Yusuf, founder of the Centre for the Promotion of Private Enterprise, said the practice is not new. “Because electioneering in Nigeria is very expensive, politicians mobilise resources from whatever assets they have, including property and shares,” he explained. He warned that distress sales could crash property prices. “If somebody needs money urgently, it cuts the price of that asset.”
Toye Eniola, Executive Secretary of the Association of Housing Corporations of Nigeria, blamed the commercialisation of politics. “They have commercialised politics. Everyone going into politics goes there to grab, and they are ready to sell whatever property to get in, knowing they will recoup their money,” he said.
Peter Adobamen, Chairman of Exclusive Estates, described the trend as cyclical. “It’s a four-year cycle. Politicians store monetary value in real estate. When elections come, they sell, often at reduced prices, to raise capital for their ambitions,” he said. He noted that Abuja, Lagos, and Port Harcourt are the key markets.
Israel Ihaza, CEO of Nigerian tech firm Oikus, said selling personal assets to fund campaigns is not unusual. “The more important question is whether campaign financing is transparent, lawful, and properly disclosed,” he added.
Experts agree that until politics becomes less profitable, the sale of prime properties to fund elections will remain a recurring feature of Nigeria’s electoral cycle.