A political party is a very central institutional ensemble required for the practice of democratic politics. However, whether they are sufficient enough to sustain democratic politics is a subject that is worthy of investigation, and as such, this paper attempts to conduct such investigation. Democratic politics is one in which there is open competition by the political gladiators for the votes of the electorate. It is equally pertinent to provide a caveat as far as this statement is concerned. This is because there could be a series of elections occurring intermittently; one succeeding the other. This often calls for the active participation of political parties in this competition, without which such elections cannot be considered to be anywhere near a democratic process. Furthermore, it is also important to examine how open is this competition that is being touted, even in typical liberal or mature democracies, where those who bankroll the electoral expenditures are in the background dictating who should be elected and who should not be elected. It is even worse in the context of the so-called transitional (democratising) societies such as Nigeria, where “godfathers” as well as “godmothers” are out there in the open dictating terms that are most often an affront to pristine democratic ethos and practices. Indeed, the democratic credentials of such processes need to be rigorously examined.