Nigerian President Olusegun Obasanjo today accepted the verdict of the National Assembly ruling out an extension of his tenure.
Nigerian President Olusegun Obasanjo has called on the party to heal wounds caused by the divisive third-term campaign
In a speech to party chieftains, Mr Obasanjo blamed the media - which had opposed the campaign to give him a third term - for deepening divisions in Africa's most populous country, and he condemned both sides for resorting to bribery and blackmail.
"As a political party, we should accept the verdict of the National Assembly," Mr Obasanjo told the party's top officials at an emergency meeting in the capital. On the basis of the constitution in hand, we must start to plan for elections next year."
Mr Obasanjo called on the party to heal wounds caused by the divisive third-term campaign, which has emboldened the opposition and caused many ruling PDP members to leave.
A former military ruler, Mr Obasanjo returned to power in 1999 elections that restored democracy in Africa's most populous nation after three decades of almost uninterrupted dictatorship.
Elections next year should mark the first time in Nigerian history that a civilian president hands over to another through elections, but the third-term campaign had jeopardised that.
The bid failed because it was opposed by so many different power bases in multi-ethnic Nigeria.
In the north, Nigeria's traditional seat of power, many thought they had a deal that power would return to their region in 2007 after eight years of Mr Obasanjo, from the southwest.
Many now question whether the PDP, which became an instrument of the third term, can retain relevance as Mr Obasanjo's powers wane.
Analysts think Mr Obasanjo will fight to scupper the candidacies of his deputy and former military rulers Ibrahim Babangida and Muhammadu Buhari, who all spoke against the third term and all want to succeed him.