He beat Aminu Tambuwal and Senate President Bukola Saraki, who scored 693 and 317 votes, respectively.
In 1998 he was elected Governor of Adamawa State.
On Sunday, delegates to a convention of the former ruling Peoples Democratic Party (PDP) nominated Abubakar, 71, as his challenger for next year's poll. We will not lose the momentum but sustain it to rebuild Nigeria and elect Alhaji Atiku Abubakar as the next President of Nigeria.
The idea, the source said, was to ensure that the former aspirants were able to return to office should they fail to clinch the presidential ticket just as it happened on Sunday.
"PDP is clearly the party to take over power".
Buhari ran unopposed, and "his name shall be forwarded to the Independent National Electoral Commission as the candidate of the party in the 2019 Presidential election", Fayemi added. We are not walking any anywhere, we're only walking with you to victory.
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We always knew from Day 1 that only one candidate would emerge.
It was gathered that party members presently holding on to the tickets for the various positions would be made to surrender them to the former presidential aspirants to enable them to contest for the posts.
"On behalf of other presidential aspirants, I thank Chairman of NWC, Governor Okowa for putting in place a transparent election and showing that PDP can make it right".
Daily Trust learnt that delegates were said to be richer with some hard currencies from presidential aspirants.
A political analyst, Chief Jackson Lekan OJo, also told our correspondent in Port Harcourt that party leaders should come together and discuss ways to keep the party united and how its candidate would win the centre.
In their reactions, some Nigerians believe Mr Abubakar is a worthy candidate able to challenge President Muhammadu Buhari in next year's election; others, however, say a younger and "less corrupt" candidate would have been a better option.