Private Funding of Political Parties in Nigeria: Implications to National Development, 2001–2010

ABSTRACT The study examined the implications of private funding of political parties to national development in Nigeria, 2001-2010. The specific objectives of the study were to: (i) as certain the rationale for private funding of political parties, (ii) determine the sources of funds to political parties, (iii) identify the level of electoral fraud/rigging that occurs to ensure that private funders of political parties do not lose, (iv) verify the implications of private funding of political parties to national development and (v) determine the solutions to private funding of political parties in Nigeria. The study was a survey, carried out in Imo State. There were 27 Local Government Areas with a population of over 4.8 million. A simple random sampling method was applied to selecting 15 local governments and 300 respondents. Data was gathered through primary and secondary sources. The primary sources include questionnaire and interview, while secondary source were books, journal, newspapers, magazine, etc. data was analysed using the statistical package for social science to determine the percentage and mean sources. The study found that private funding of political parties was an arrangement for members of a political party to help fund her activities and reduce the dependency of parties on government. The source of funds to political parties were found to include sponsorship by influential individuals of the party, membership dues, government grants to political parties, levy from office holders/elected members of the party and fund raising dinners by members. It found that the fraud and rigging that occurred in private funding of political parties includes soliciting for the co-operation of electoral officers both at the polling booths up to the resident electoral commissioners for fraud/rigging, multiple registrations of candidates for elections, stuffing of ballot boxes before its arrival at the polling booths, inducement of voters prior to voting day, intimidation of political opponents with thugs, police, army and personal guards. The study also found that the implications of private funding includes sheepish implementation of policies that do not benefit the public but the funders, thereby making the state/national legislature less representative and less responsive, the funds allocated for development are fought for and disbursed on the basis of what was contributed by funders and self enrichment, etc. To solve the problem, the study recommended that persons wishing to run for a political office should be credible, propriety, be in good financial disposition and management, all sources of funds and the intensions of the funders should be disclosed, law should be made for equal amount to be contributed by all the members of a political party to avoid some wealthy individuals hijacking the party.