Akogun Iyiola Oyedepo, the President of Nations Leadership Institute, has advocated crowdfunding of elections to eliminate godfatherism in Nigerian politics.

Oyedepo made the appeal on Thursday in Ilorin in a paper delivered at the weekly political dialogue organised by the institute.

Oyedepo spoke on “Fundraising for political purposes”.

Oydepo described crowdfunding “as a financing method that involves funding a project or idea with relatively modest contributions from a large group of individuals rather than seeking substantial sum from a small number of individuals”.

The Nations Leadership Institute organised the political dialogue for over 50 young men and women drawn from the 16 local government areas of Kwara.

According to Oyedepo, crowdfunding is a democratic way of financing a political party and it creates a sense of ownership and participation of members.

“It is a tool of mobilisation. It causes focused funding and addresses the issues of godfatherism and dictatorship.

“Fundraising for political programmes, such as campaigns, elections, and publicity, is a major instrument of ‘killing’ the godfather syndrome in politics.

“It democratises politics and ensures that men and women of merit are promoted for elections.

“Crowdfunding should be employed as a new instrument of political freedom and development in all ramifications,” he added.

Oyedepo, a chieftain of the All Progressives Congress (APC), advised leaders of political parties to embrace fundraising as a way of financing activities of political parties rather than relying on wealthy individuals.

“Fundraising is about selling to the prospective donor your organisation’s vision, mandates, programmes, budget and ability to carry out the programme or project efficiently and effectively.

“Fundraising is a systematic disciplined approach to raising resources from willing supporters.

“It is a means of showing your vision and giving people the possibility of response to the understanding of your vision,” he added.

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According to Oyedepo, without money, nobody can make headway in politics.

In his contribution, Malam Tunde Mohammed, a media consultant, said money plays a vital role in any election.

According to him, lack of trust was the bane of fundraising in Nigeria, adding that the electorate did not trust candidates put forward for elections.

Mohammed said for political fundraising to be effective, candidates for election must be upright, honest and trustworthy with impeccable character.