ANALYZING THE IMPACT OF CORRUPTION ON ECONOMIC GROWTH IN NIGERIA-LOOKING BACK, LOOKING AHEAD

Nnaemeka Shedrack Onyema

Анотація


Abstract

This study analyzed corruption as the limiting factor on economic growth in Nigeria. It set to find out if cultural peculiarity of the Nigerian people is the major cause of the pervasiveness of corruption; to assess the efficacy of anti-graft agencies in tackling corruption. The work is to ascertain if corruption reduces investment, increases unemployment, infrastructure decay and deficit, insecurity, poverty, hunger and diseases. Secondary data were sourced from email consultations, online engagements, Webex/Skype calls, journal and Newspaper articles, textbooks, government publications and speeches of renewed academia. We found out that corruption is the bane of the Nigeria’s economic investment, growth and development. It concluded that unless corruption is eschewed in all aspects of governance and private engagements, Nigeria may not likely overcome the problems of underdevelopment and stunted economic growth. However, the work is capable of expanding the frontiers of knowledge towards the reconceptualization of corruption as the bane of economy and enemy of the state. The paper recommended attitudinal change, self-purgation and adoption of the positives of good governance. Also, the anti-graft agencies need to be strengthened to serve as effective change agents.

KEY WORDS: Corruption, Economic Growth, Investment, Underdevelopment, Good Governance, Anti-graft Agencies


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DOI: http://dx.doi.org/10.17721/http://dx.doi.org/10.17721/2413-7979/9.5

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ISSN 2522-9095 (Online), ISSN 2413-7979 (Print)

https://doi.org/10.17721/2413-7979