1) of or pertaining to a president or the office of a president.
2) a derivative of gubernatorial. However, instead of pertaining to a state governor, it pertains to a president, hence the word "national."
The 2012 election will be sooooooo long! It'll Probably just be two straight years of assholes taking up regularly scheduled television programing for their elitist gubernational debates.
Of, or referring to a governor. This word is exceptionally weird, because it should be governorial or something. Like, when we elect a President, it's called a Presidential election, NOT a Presibentorial election.