Nigeria’s democratic experiment has come a long way. Just like any other political entities, the electoral experience is not without some teething challenges such as ballot box snatching, violence, rigging, etc. in the recent times, a new electoral challenge has just been added into the political lexicon: merchandisation of votes otherwise called vote buying and vote selling. A situation whereby votes are commoditized and political gladiators curry political favor from the electorates by devising series of monetary strategies to win elections; while the electorates also sell their votes to meet their financial lack. Investigating the preponderance of merchandisation of votes in the Nigeria’s forth republic, the paper focused on the just concluded July 14, 2018 gubernatorial elections in Ekiti state, Nigeria. Rational choice theory, a variance of Political Economic Approach (PEA) was handy as the foundational basis of the paper. The paper also used contextual analysis source of data collection as the instrument of investigation in other to extrapolate the electoral challenge. It is observed that the politicians and political gladiators embarked on vote buying as a desperate strategy to win elections, so as to gain the plenipotentiary power to authoritatively allocate state resources/values. The electorates on the other hand, sell their votes, because they see it as a way of getting their own share from the politicians who seldom forgetting them after the elections; because of poverty, lacks, famine, in other words, lack of basic family needs; unemployment, illiteracy etc. as some of fundamental reasons for selling their votes. This menace is not without some socio-political and economic implications on the political system. However, the paper observed that to checkmate the merchandisation of vote in Nigeria, certain proactive strategic options are needed such as behavioral and attitudinal change, poverty reduction or eradication schemes, socio-political education, economic empowerment, provision of gainful employment etc. as part of strategic options to ameliorate or eradicate the menace in Nigeria.