Economy
Tinubu Signs Electoral Amendment Bill, Presidential Campaign Threshold Doubled To N10bn
Tinubu Signs Electoral Amendment Bill, Presidential Campaign Threshold Doubled To N10bn
Tinubu signs electoral amendment bill, Presidential campaign threshold doubled to N10bn, guber limit now N3bn… inside 2026 Electoral Act. Tinubu signs electoral amendment bill on Feb 18, 2026
The national assembly has doubled the campaign spending limit for presidential candidates to N10 billion and increased the governorship ceiling to N3 billion in the Electoral Act 2026.
On February 17, the national assembly harmonised versions of the Electoral Bill 2026 passed by both chambers and transmitted same to President Bola Tinubu for assent ahead of the 2027 general election.
Tinubu signed the bill into law within 24 hours of its transmission, completing a two-year consultative process.
In a statement issued on Sunday by his directorate of media and public affairs, Opeyemi Bamidele, senate leader, disclosed the revisions while outlining key reforms introduced in the new electoral framework signed into law ahead of the 2027 general election.
Under the repealed Electoral Act, 2022, presidential candidates spend was capped at N5 billion, while governorship candidates were limited to N1 billion.
The 2026 law, however, raises the senate spending ceiling from N100 million to N500 million.
The limit for house of representatives candidates has been increased from N70 million to N250 million.
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For state house of assembly elections, the ceiling rises from N30 million to N100 million.
Area council chairmanship outlay has been reviewed upward from N30 million to N60 million, while councillorship candidates can now spend up to N10 million, up from N5 million.
Bamidele said the upward review under section 92(1-8) reflects prevailing economic realities and rising campaign costs, while retaining statutory limits to regulate election financing.
He added that enforcement provisions remain in place to sanction candidates who exceed the prescribed thresholds.
PENALTIES FOR RIGGING
The senate leader also said the Electoral Act 2026 introduced stricter penalties for electoral offences as part of broader reforms aimed at strengthening Nigeria’s electoral process.
Under section 125(1-2), he said, the legislation recommends two years’ imprisonment or a fine ranging between N500,000 and N2 million, or both, for offences such as vote buying, impersonation, and result manipulation.
He added that section 60(6) prescribes “a six-month imprisonment or a fine of N500,000 or both against any presiding officer, who willfully frustrates the electronic transmission of election result”.
“This provision is consistent with the public demands,” he added.
“It also stipulates another measure of consequence if any presiding officer refuses to electronically transmit the results from each polling unit to IREV.
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“We must equally understand that IREV is not a collation platform. It was designed to enhance transparency in our electoral process. An electronic collating system is a project that requires its own planning.”
Bamidele also cited section 74(1), which mandates a resident electoral commissioner (REC) to release certified true copies of documents within 24 hours after payment, with failure attracting a minimum of two years’ imprisonment without an option of fine.
He said section 72(2) provides that a certified true copy of a court order “shall be sufficient for the purpose of swearing-in any candidate declared as the winner of an election by the court where the INEC fails, refuses, or neglects to issue the certificate of return”.
The senate leader said the new framework also mandates the compulsory use of the Bimodal Voter Accreditation System (BVAS) under section 47 and electronic transmission of results to the INEC result viewing portal (IReV) under section 60(3).
“The making of the new regime is a collective work that involves nearly all critical stakeholders,” he said.
President Tinubu
“The National Assembly worked with such different stakeholders as OAGF, CSOs, INEC and our development partners, among others, before we eventually completed the process.
“As we were making progress, the stakeholders too were making their input, and all the inputs were incorporated in the Act.
“In view of the time constraint we are facing now, I do not believe the Executive requires days or weeks to review it before assent, since we all contributed to it.
“Its outcome is not a unilateral effort of the parliament, but of Nigerians at large.”
Bamidele added that the Electoral Act, 2026, is designed to enhance electoral credibility, reduce disputes, and strengthen democratic governance in the country.
10th National assembly
amendments to the Electoral Act 2022
campaign spending limit in Nigeria’s elections
Electoral Act
Nigeria’s electoral process
Opeyemi Bamidele
penalties for electoral offences
ICYMI: NNPC Management Visits Dangote Refinery
ICYMI: NNPC management visits Dangote refinery. The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, on Saturday, led our Senior Management Team on a strategic visit to the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos. This high-level engagement featured key discussions and an extensive facility tour, reinforcing our renewed commitment to deepening partnership and collaboration.
These partnerships, anchored by President Bola Ahmed Tinubu’s visionary reforms, open vast opportunities for expanded cooperation in downstream and midstream activities, trading, shipping, and beyond, driving sustainable growth and delivering value to Nigerians.
NNPC Management Visits Dangote Refinery
With NNPC Ltd.’s strategic 7.25% stake in the refinery, we are proudly aligned in advancing domestic refining capacity, energy security, and industrial excellence for our nation.
2026: Lagos Energy Week, Ogunleye Leads NNPC’s Push For Gas-Driven Growth
2026: Lagos Energy Week, Ogunleye Leads NNPC’s push for gas-driven growth. Our Executive Vice President, Gas, Power & New Energy, Mr. Olalekan Ogunleye, headlined the just concluded 2026 Society of Petroleum Engineers (SPE)’s Lagos Energy Week, where he delivered a keynote address.
In his address, Ogunleye unveiled the strategic direction of the NNPC Gas Master Plan 2026, a blueprint aimed at accelerating gas development, expanding infrastructure, boosting domestic supply, and positioning Nigeria as a regional and global gas hub. He highlighted the key components of the plan, including scaling LPG supply from 1.5MTPA to 5MTPA, expanding feedstock for Mini‑LNG and CNG, and driving exponential growth in Gas‑Based Industries.
Lagos Energy Week
Ogunleye emphasized NNPC’s renewed commitment to translating Nigeria’s abundant gas resources into economic growth and improved quality of life for citizens, aligning with the Federal Government’s Decade of Gas and the Presidential target of achieving 10 BCF/D by 2027 and 12 BCF/D by 2030.
Industry leaders present, including executives from Chevron, Esso E&P, Midwestern, AGPC, and SNG, commended the plan and praised Mr. Ogunleye’s leadership in advancing implementation excellence across the nation’s gas sector.
TAJBank Bags A1 Credit Ratings From Agusto, Datapr
TAJBank bags A1 credit ratings from Agusto, Datapr. TAJBank Limited, one of Nigeria’s foremost non-interest banking services providers, has bagged an A1 ranking from the Agusto & Co and Datapro rating agencies.
TAJBank Limited, one of Nigeria’s foremost non-interest banking services providers, has bagged an A1 ranking from the Agusto & Co and Datapro rating agencies.
This is according to a statement by the bank’s CEO, Hamid Joda.
Mr Joda said that the ratings were in the credit risk and operational resilience assessment scorecards, making it among the best-rated in the nation’s non-interest banking (NIB) space.
He said that the latest ratings of TAJBank represented a notch up from BBB+, which Agusto & Co rated it about two years ago.
He said it was attributed to the bank’s high-quality balance sheet and robust earnings ratios in 2025.
“In spite of the prevailing economic whirlwinds in the country, TAJBank is noted to have leveraged its operational efficiency and customer-focused world-class services.
“The improved rating is a clear demonstration that TAJBank has been prioritising necessary risk management and operational controls.
“It has done that with a clear focus on quality processes relating to first-class standards, management, and administration lifecycle,” he said.
He said that the latest ratings by these reputable agencies had, again, validated the management’s commitment to world-class standardisation of the bank’s operations.
According to him, this is especially true in terms of innovative, real-time, tech-powered services and sustainable risk management for our growing customers.
“As we have consistently maintained, our primary goal is to deploy world-class operational standards and services to protect the interests of our customers. This is with a view to surpassing their expectations and retaining TAJBank at the leading edge of the NIB subsector on a sustainable basis.
TAJBank
“The message these latest best ratings are sending to our customers, investors and stakeholders is that with TAJBank, they can rest assured of the safety of their investments and transactions.
“They can also be assured of the readiness of the bank’s management to grow their businesses and support their individual socio-economic wellbeing,” Mr Joda said.
In his remarks on the ratings, the bank’s executive director, Sherif Idi, said that the A1 ratings had reaffirmed TAJBank’s management’s unwavering commitment to best practice standards.
According to Mr Idi, this is achieved through prioritising investment in human capital, innovative technologies, and branch network expansion.
“This is to consistently make our bank the preferred choice for customers in the NIB subsector of the banking sector,” he said.
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