CORRUPTION IN NIGERIA, A THREAT TO SUSTAINABLE ECONOMIC DEVELOPMENT
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CORRUPTION IN NIGERIA, A THREAT TO SUSTAINABLE ECONOMIC DEVELOPMENT
ABSTRACT
The study gives a conceptual and theoretical assessment of corruption in Nigeria as a danger to long-term economic development. It explains the nature and consequences of corruption and proposes solutions to minimise and remove the trend in Nigeria.
INTRODUCTION
Amuwo (2005) and Obayelu (2007) define corruption as the use of public positions, resources, and authority for personal gain. Corruption is defined by Fjeldstad&Isaksen (2008, p. 3) and Ogundiya (2009, p. 5) as “the betrayal of public trust for individual or sectional gain.” Obayelu defined corruption as “efforts to secure wealth or power through illegal means for private gain at public expense; or misuse of power for private benefit.”
Corruption encompasses a wide range of behaviours, including fraud (theft by misrepresentation), embezzlement (misappropriation of corporate or governmental funds), and bribery (payments used to obtain an advantage or avoid a disadvantage). Aiyede (2006, p. 5) defines corruption as “the abuse or misuse of public or governmental power for illegitimate private advantages.”
His viewpoint supports Lipset and Lenz’s (2000) contention that corruption is an attempt to achieve riches or power by illicit means for private gain at the expense of the public. Tanzi (1998) adds that such misuse of public authority may be for the interest of one’s party, class, tribe, or family rather than for one’s personal benefit.
Although corruption is widespread, it is more prevalent in developing countries due to weak institutions. It is minimal in industrialised countries because to more developed and effective institutional control mechanisms.
CHAPITRE I
1.1 BACKGROUND OF THE STUDY
Corruption has a negative impact on a country’s economy. A corrupt nation cannot be economically viable, nor can the system create enough support/ love to ensure the survival of the democratic system.
This is the scenario in Nigeria, where corruption has become ingrained in the political culture. Corruption has indeed deprived Nigerians of the benefits of economic growth by diverting scarce available money that should have been used to carry out development projects into private offshore accounts.
Corruption is common in Nigeria, not because the people are different from those in other areas of the world, but because the conditions are favourable. There are numerous explanations for this. The population’s motivation to earn an income is substantially stronger, which is compounded by poverty, unemployment, and poor salaries.
Accountability is generally lacking in many impoverished countries, including Nigeria. Political competition and civil liberties are frequently curtailed. Laws and ethical concepts in governance are underdeveloped, and the legal institutions tasked with enforcing them are underprepared.
The study intends to look into corruption in Nigeria as a danger to long-term economic development.
1.2 STATEMENT OF THE PROBLEM
The research problem is to assess corruption in Nigeria as a danger to long-term economic development.
1.3 RESEARCH QUESTIONS
1 What is the nature of Nigerian corruption?
2 What are the underlying reasons of corruption in Nigeria?
3 How does corruption affect Nigeria’s long-term economic development?
1.4 OBJECTIVES OF THE STUDY
1. To assess the nature of corruption in Nigeria.
2 To ascertain the causes and consequences of corruption on Nigeria’s long-term economic development.
1.5 SIGNIFICANCE OF THE STUDY
The study will project the negative impact of corruption on Nigeria’s economic development.
It will also be a valuable source of information on corruption issues.
1.6 HYPOTHESIS STATEMENT
1 H0 Nigeria has a high level of sustainable economic development.
H1 Nigeria has a low level of sustainable economic development.
Nigeria has a low level of corruption.
H1 Nigeria has a high level of corruption.
3 H0 Corruption has little impact on Nigeria’s long-term economic progress.
H1 Corruption has a significant impact on Nigeria’s long-term economic development.
1.7 SCOPE OF THE STUDY
The report assesses corruption in Nigeria and examines its impact on long-term economic development.
1.8 DEFINITIONS OF TERMS
CORRUPTION
Amuwo (2005) and Obayelu (2007) define corruption as the use of public positions, resources, and authority for personal gain. Corruption is defined by Fjeldstad&Isaksen (2008, p. 3) and Ogundiya (2009, p. 5)
as “the betrayal of public trust for individual or sectional gain.” Obayelu defined corruption as “efforts to secure wealth or power through illegal means for private gain at public expense; or misuse of power for private benefit.”
Corruption encompasses a wide range of behaviours, including fraud (theft by misrepresentation), embezzlement (misappropriation of corporate or governmental funds),
and bribery (payments used to obtain an advantage or avoid a disadvantage). Aiyede (2006, p. 5) defines corruption as “the abuse or misuse of public or governmental power for illegitimate private advantages.”
DEFINITION OF ECONOMIC DEVELOPMENT
According to Imhonopi and Urim (2010), national development is a country’s or countries’ ability to increase the social welfare of its people, specifically by providing social amenities such as good education, power, housing, pipe-borne water, and so on. Economic development, socio-cultural empowerment and development, and how these affect human development are all components of country development.
National growth can be blocked or defeated without human development, which is the development of a nation’s or its citizens’ human capital. Indeed, human development is one of the criteria used to assess the effectiveness of the economic development component of national development (Ogboru, 2007; Ranis, Stewart, & Ramirez, 2000).
They noted that economic progress, as measured by GNP, can improve human development through spending by families, governments, and non-governmental organisations (NGOs). With increased economic growth, families and individuals are likely to increase their expenditures in proportion to their income.
This growth has the potential to lead to greater human development. Streeten (1982) stated that development must be reinterpreted as an attack on the world’s major evils such as starvation, sickness, illiteracy, slums, unemployment, and inequality. In other words, development must be judged in terms of job creation, justice, and poverty alleviation.
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