Bright Side of Nigeria’s Cash Shortage: Vote Buying Declines
(Bloomberg) --
Most Read from Bloomberg
Nigeria Latest: Tinubu Wins Ekiti Vote; Next Briefing at 11 a.m.
Ukraine Latest: Saudi Foreign Minister in Surprise Visit to Kyiv
Musk Deflects Criticism of Dilbert Cartoonist’s Racist Comments
Goldman Turns to ‘Make-or-Break’ Unit as CEO Solomon Put to Test
Vote buying comes standard in most Nigerian elections. Common scenes outside polling stations involve party operatives handing out anywhere from 500-to-10,000 naira ($1.09-to-$21.70) to voters.
But this year is different — an acute shortage of naira notes that has crippled Africa’s biggest economy in the run up to Saturday’s election seems to have sapped political parties’ ability to pass out cash. There wasn’t a bill to be seen at one polling unit in the Maitama neighborhood in the capital, Abuja, that was the scene of blatant payments during the 2019 election.
For the well-funded main parties, that could mean depressed turnout. But the Rivers state gubernatorial candidate for the upstart Labour Party — whose presidential nominee led most polls ahead of the election — said she thinks it could be to their benefit.
“Major parties may not be able to have the amount that they would’ve required,” said Beatrice Itubu. “We don’t have the money, so when there is less money for them to spend, it is an advantage for us.”
The nation’s electoral commission has vowed to fight vote buying and there have been television advertisements supported by the MacArthur Foundation, a US nonprofit, exhorting voters not to take cash to cast their ballot..
Most Read from Bloomberg Businessweek
The Green Energy Revolution Needs a 211-Mile Road Through Pristine Alaskan Wilderness
Higher Interest Rates Slam Stocks and Profits But Spare Workers
Germ-Zapping Lasers Help Cut Down on Infections After Surgery
After Multibillion-Dollar Fintech Binge, Wall Street Has a Writedown Hangover
©2023 Bloomberg L.P.