Obafemi Hamzat, the All Progressives Congress (APC) candidate and current Lagos Deputy Governor, holds an 81.5% implied probability in the market following the Independent National Electoral Commission’s release of the final list of 17 candidates for the February 2027 governorship election. President Bola Tinubu’s recent endorsement of Hamzat as the consensus APC nominee has reinforced party unity and continuity in the state long governed by the APC. Opposition candidates, including Gbadebo Rhodes-Vivour of the African Democratic Congress and several others from parties such as the Peoples Democratic Party and Accord, trade at single-digit levels, reflecting limited prospects amid the ruling party’s organizational strength and historical dominance in Lagos elections.