Campaigning, of course, is going to cost money, but both the All Progressives Congress (APC) and the People’s Democratic Party (PDP) charge presidential hopefuls who want to run in the party primaries tens of thousands of dollars for the privilege.
The APC, the party of President Muhammadu Buhari, wants $125,000 (£97,000) for a nomination form. An opposition PDP presidential nomination is cheap by comparison – just $33,000.
Women, on the other hand, get a discount – half price for the APC or totally free if you want to try your luck with PDP. But neither party has ever nominated a woman since the return of democracy in 1999 and only one woman, Sarah Jibril, has run in the primaries.
She gained just one vote in the 2011 contest.
But for male aspirants the price tag has triggered fears that the opportunity to run for the country’s highest office is only open to the rich.
Only candidates from the PDP and APC have won Nigeria’s presidency since the end of military rule.
Recipe for corruption?
People have accused the main parties of using the nomination process to generate cash.
The APC has nearly doubled the price from the last election in 2015. When Mr Buhari made his bid to become the then-opposition party’s candidate for president he bought his nomination form for $76,000.
At the time he said he a got a bank loan to cover the cost, but there has never been any statement on how or when the loan was repaid and with what interest.
Mr Buhari wants to run for a second term as the APC candidate – his nomination fee has been covered by a youth movement this time round.
One man who is hoping to challenge Mr Buhari, Alhaji Mumakai Unagha, has called the charges “a deliberate act to deny potential aspirants with genuine intentions for the country from accessing or collecting the form”.
“With the current situation, those who stole our common wealth will now have a field day, while those of us with a genuine and burning desire to contribute to the development of the country will be denied.”
Mr Unagha thinks that the nomination fee is an invitation to loot state coffers once people win office.
“The party is indirectly telling Nigerians that when aspirants get to power they should recoup their money.”
Too poor to run?
This view is echoed by Nana Tim-Dudiefa Nwachukwu, who is part of the #NotTooYoungToRun movement that seeks to encourage young Nigerians to run for office.
“How do you hope to recover your money? People go into businesses for the benefits it brings to them in one way or the other.
“It means such a person will be looking at some other means outside of his or her legitimate income to recover their money.”
The opposition PDP has gone the opposite way to the APC and slashed its nomination fees by nearly half. But $33,000 is still out of the reach of most of the population, seeing as Nigeria’s average annual income per person is less than $2,000.
Although the parties charge these nomination fees, the country’s electoral commission, which has made no comment on the issue, does not charge the parties to register their candidates once the primary process is over.