Incumbent All Progressives Congress Governor Gboyega Oyetola was eligible for re-election but lost by a 3.5% margin to former Senator Ademola Adeleke—the nominee of the Peoples Democratic Party.

As the Independent National Electoral Commission only observed the primary that nominated Adeleke, he was recognized as the legitimate PDP nominee.

[citation needed] At the beginning of Oyetola's term, his promises included completing in-progress projects, full payment of civil servant salaries, and further developing his predecessor's welfare programs.

[14][15] In terms of his performance, Oyetola was commended for mining development but was criticized for declaring numerous public holidays and failing to pay pensions.

[25] Eventually, the IleriOluwa faction was recognized by the national APC and the primary continued within it as Aregbesola endorsed challenger Moshood Adeoti while Oyetola began his campaign for a second term.

[32] Thankfully, the practice was mainly peaceful, albeit with one person being shot dead over a non-election related dispute according to police.

[33] In the early morning of 20 February, head of the primary committee and Kwara State Governor AbdulRahman AbdulRazaq declared Oyetola as the APC nominee after announced results showed him defeating Adeoti and former House Deputy Speaker Yusuf Sulaimon Lasun by over 200,000 votes with 60% turnout.

[39] However, a different case brought by the PDP contested that the primary was invalid due to illegitimate APC national leadership as then-APC Chair Mai Mala Buni was an incumbent governor; on 1 October 2022, a Federal High Court ruled in favor of the PDP, nullifying the APC gubernatorial primary and declaring Oyetola's nomination void.

[48] However, the state PDP claimed that while "the majority of our party stakeholders" were supporting Adeleke, all contenders were allowed to run in the primary.

[62] The PDP national headquarters gave Adeleke the certificate of return on 10 March but Babayemi stated that the decision was "not the end of journey.

[78][79] As campaigning escalated in May and June, the nominees' unveiled their policy agendas and brought in out-of-state politicians to hold rallies.

However, for the PDP, the internal crisis surrounding the party's presidential primary led aggrieved politicians to avoid the Osun campaign trail.

[80] Analysts noted the similarities to the 2018 race during the campaign while continuing to focus on both state parties' attempts to reconcile their nominees with intraparty opposition.

[100][101] On the other hand, INEC was commended for successful election administration as the vast majority of polling units had early-arriving officials, security operatives, and well-functioning equipment according to preliminary reports from election observers CDD West Africa, Nigeria Civil Society Situation Room, and YIAGA Africa.

Before the results were even formally announced, videos of Adeleke and his supporters celebrating emerged after the PDP's own count reportedly confirmed his victory.

[149][150] However, APC presidential nominee Bola Tinubu is yet to release a statement on the result, reportedly deferring to Oyetola for the next move.

[11] From civil society, reports spoke positively about the election turnout and INEC's administration but again noted the prevalence of vote buying.

[151][152] However, YIAGA and other groups like the Nigeria Civil Society Situation Room lamented the vote buying reports and called on authorities to come up with countermeasures.

[8][9][156][157] Observers also noted anger at Oyetola over the alleged diversion of COVID-19 palliatives meant for the public and his administration's failure to pay owed civil servant salaries; in addition, post-election analysis examined specific cases of APC infighting in several LGAs that Adeleke eventually won, the extensive campaigning of PDP figures like former Senate President Bukola Saraki and Edo State Governor Godwin Obaseki, and the purported support that Aregbesola and LP nominee Lasun gave to Adeleke.

[159] On 4 August, Osun APC Chairman Gboyega Famodun announced Oyetola's intent to challenge the results at the Election Petition Tribunal, stating that "we have a strong case and we believe we will win at the court.

"[11][160] In response, Osun PDP Caretaker Committee Chairman Akindele Adekunle condemned the APC's contest to the election results, describing the move "as anti-people and a challenge of God's will" while expressing a lack of concern about the result of the challenge "as the election that produced the winner was adjudged to be of global democratic compliance.

[169] On the date, the tribunal ruled against Adeleke in a judgement that declared Oyetola the rightfully elected governor based on the reports of overvoting.

[4] The judgment sparked protests and prompted an immediate appeal from now-Governor Adeleke, who remains in office pending the results of further litigation.

Attendees included the Ooni of Ife, Davido, and several PDP governors along with the party's presidential nominee Atiku Abubakar; Oyetola did not attend the ceremony, instead publishing a farewell statement that noted his ongoing challenge to the election results.