Free and fair elections are not only the foundation of democratic governance; they also shape economic stability, investor confidence, and long‑term competitiveness. Transparent and credible electoral processes enhance institutional legitimacy and reduce the political uncertainty that deters both domestic and foreign investment. When governance is predictable and leaders remain accountable to voters, businesses can plan, innovate, and allocate capital more effectively. Electoral integrity, therefore, functions as both a political necessity and a significant economic variable.
In Nigeria, investor sentiment has long been influenced by perceptions of political stability and institutional credibility. Election cycles marked by disputes, violence, or doubts about legitimacy typically elevate risk assessments and slow capital inflows, weakening the country’s competitive position. Conversely, peaceful and credible elections improve Nigeria’s economic outlook and strengthen its appeal to investors.
It is within this context that President Tinubu, on 18 February 2026, signed the Electoral Act 2026 (“EA 2026”) into law. The Act repeals the Electoral Act 2022 and introduces reforms aimed at improving the integrity, efficiency, and transparency of elections. Its passage has generated mixed reactions: some view it as a timely modernisation of Nigeria’s electoral framework, while others warn that certain provisions may create new logistical, financial, or institutional challenges. This article reviews the key reforms introduced by the EA 2026 and considers their potential legal and economic implications.
The EA 2026 introduced several reforms that are intended to improve electoral governance and enhance institutional accountability. They are as follows:
a. Recognition of Political Parties as Corporate Entities
In Section 77(1) EA 2026, political parties are now recognized as bodies with corporate personality having perpetual succession, capable of suing and being sued, and having a common seal. This provision, in theory, will improve discipline within parties and promote greater compliance with electoral rules as political parties are now put on a clearer legal footing.
b. Digital Membership Registers for Political Parties
The EA 2026 now mandates political parties to maintain digital registers of all their members containing relevant bio-data details. These registers are to be submitted to INEC not later than 21 days before the party primaries, congresses, or conventions. This requirement is intended to increase transparency in parties’ primaries by ensuring that only verified members contained in the digital directory are allowed to vote or contest in the primaries. The reform may also reduce political defections shortly before primaries and discourage the manipulation of delegate lists.
c. Restriction on Court Orders Stopping Elections
Section 88(4) EA 2026 restricts courts from issuing orders that halt the conduct of party primaries or general elections pending the determination of a suit. This reform aims to prevent the misuse of judicial processes to disrupt electoral timelines.
d. Mandatory Direct Primaries or Consensus Candidates
Section 84[2] EA 2026 states that nominations of candidates must occur only through direct primaries or consensus, ending indirect primaries or delegate voting. Where a consensus candidate is adopted, all qualified aspirants must provide written consent indicating their voluntary withdrawal from the race and their endorsement of the consensus candidate. Supporters argue that direct primaries deepen internal party democracy by allowing party members to participate directly in candidate selection.
e. Increase in Campaign Spending Limits
Section 92 of EA 2026 increases the maximum election expenses permitted for candidates. For instance, it raises the election spending limit for a Presidential Candidate from N5 billion to N10 billion. While proponents argue that the increase reflects inflation and the rising cost of nationwide campaigns, critics contend that higher spending limits may deepen the influence of money in Nigerian politics and create barriers for candidates without substantial financial backing.
f. Revised Voter Identification Requirements
Section 10[2] EA 2026 has streamlined the acceptable means of identification for Voter Registration to Nigerian Birth Certificate, Nigerian Passport, or National Identification Number. Driver’s Licences and Voter Cards are no longer valid for the purpose of voter registration. This reform seeks to strengthen identity verification and reduce duplicate or fraudulent registrations, although concerns remain about access to identification documents among certain segments of the population.
g. Digital Access to Permanent Voter Cards (PVCs)
The proviso to Section 18[1] EA 2026 states that voters can download their voter cards directly from INEC’s website or platform. This is likely to reduce delays and costs associated with physical card collection, especially in cases where PVCs have been lost, destroyed, or damaged.
h. Revised Timeline for Submission of Candidates
Under Section 29(1) EA 2026, political parties must submit their list of candidates to INEC not later than 120 days before the election. INEC is then required to publish the list of candidates 60 days before the election, shortening the period previously available for public scrutiny and legal challenges. While this adjustment may streamline election preparation, some analysts worry that it could reduce the time available for vetting candidates.
i. Criminalisation of Vote Trading and PVC Fraud
Section 22 EA 2026 criminalises the purchase, sale, or theft of voter cards, as well as vote trading, with penalties which include: conviction to a fine of not less than N5,000,000 or imprisonment of not less than 2 years or both, and shall not be eligible to stand for election in Nigeria for a period of at least 10 years.
The innovations in the EA 2026 have been met with mixed reactions. While some commentators view the innovations as laudable, certain stakeholders have expressed challenges with the innovations:
Beyond its legal implications, the EA 2026 may have important economic consequences. Firstly, reforms aimed at improving transparency and credibility in elections could strengthen Nigeria’s institutional reputation. Investors generally prefer markets where political transitions are predictable and governance structures are stable. If the reforms lead to more credible elections, they could contribute to improved investor confidence and increased capital inflows.
Furthermore, digital innovations such as online PVC access and digital party registers may enhance administrative efficiency and reduce the cost of election management over time. The gradual digitisation of electoral processes aligns with broader public sector modernization efforts and may improve the credibility of electoral data. However, as earlier stated, certain provisions may also introduce economic pressures. The requirement for direct primaries, for example, could significantly increase the operational costs of political parties and potentially deepen the influence of money in politics.
Finally, the shortened six-month funding timeline for INEC may create logistical challenges that could affect the efficiency of election preparation. Delays or operational constraints in election administration could increase political uncertainty, which in turn may influence investor perceptions of risk and may thus reduce Foreign Direct and Foreign Portfolio investments.
The EA 2026 represents one of the most significant attempts in recent years to reform Nigeria’s electoral framework. By introducing provisions relating to digital voter access, party accountability, campaign financing, and electoral timelines, the legislation seeks to modernize the administration of elections and strengthen democratic governance.
Nevertheless, the Act has generated substantial debate. While some provisions promise greater transparency and institutional discipline, others raise legitimate concerns regarding cost implications, logistical feasibility, and the potential for unintended consequences.
As Nigeria approaches the 2027 general elections, the success of the EA 2026 will depend largely on effective implementation, regulatory oversight, and continued engagement among stakeholders. If properly executed, the reforms could enhance electoral credibility and contribute to a more stable political and economic environment. However, unresolved concerns may necessitate further amendments to ensure that the law achieves its intended objectives.
