With Nigeria serving as a case study, the primary purpose of this research is to investigate the ways in which corruption impedes the progress of the majority of African countries. Reforms in politics, economics, and society are ongoing processes that are substantially influenced by corruption (Obamuyi & Olayiwola, 2019). The issue of corruption in Nigeria remains unresolved and has significantly impeded the nation’s economic progress. It has been recognised as a hindrance to Nigeria’s economic transformation. The aforementioned phenomenon pertains to a socioeconomic condition wherein funds allocated by the state for the purpose of national development are redirected and utilised for private endeavours and initiatives. The phenomenon presents itself in various forms, such as the improper utilisation and misallocation of governmental positions, deficient responsibility, escalated contractual expenses, corruption, fabrication of documents and contracts, and noncompliance with tax obligations, among other manifestations.
The phenomenon of corruption has existed since the inception of human civilization. The aforementioned entities, namely the public sector, private sector, for-profit and non-profit organisations, and charitable groups, are all potential sources of its availability. The phenomenon occurs in both developing and developed nations, although it is more prevalent in developing countries, thereby indicating a country’s inefficacy (Rotimi, Obasaju, Barnabas, Lawal, IseOlorunkanmi, J., 2013). According to the World Bank, corruption refers to the act of utilising a public position for personal benefit. The act of a public official soliciting, accepting, or attempting to obtain a bribe involves the exploitation of their official position for personal financial gain. Elevated levels of corruption invariably lead to a detrimental cycle of destitution that is exacerbated by diminished rates of savings, inadequate incomes, and reduced investment and productivity. One potential contributing factor is the phenomenon of significant capital flight, which can impede economic expansion and progress, generate citizen insecurity as evidenced by multiple instances of Boko Haram attacks, exacerbate poverty and joblessness, and exert adverse impacts on both individuals and property. Structures that are in a state of decline.
The issue of corruption in Nigeria is comparatively more significant than in other regions, and it has pervasive implications for all sectors of the nation’s economy. Nigeria is often recognised as one of the most corrupt countries globally, as noted by Salisu (2000). Nigeria was accorded a commendable ranking by Transparency International and other reputable organisations that monitor global corruption. Capasso and Santoro (2018) assert that corruption is a multifaceted and intricate phenomenon. The authors analysed the intrinsic nature of corruption and the development of the bribery agreement between a public official and a private agent who seeks an unlawful benefit. They contended that corruption constitutes a mutual agreement between a public official and a private agent, and its attributes are contingent upon the distribution of bargaining power between the involved parties.
According to d’Agostino, Dunne, and Pieroni (2016), the impact of corruption on the economic growth of African nations is a significant concern. Despite the widespread consensus that corruption is a negative phenomenon, there exists considerable divergence of opinion regarding its definition and relative significance. There is a dearth of research on the relationship between corruption, government expenditure, and their impact on economic growth in the countries of the region. The findings indicate that corruption exerts a negative impact on military expenditure, and its interaction with the military burden and other factors exacerbates its deleterious effects. Corruption is a widely discussed topic in Nigeria, with many attributing it to the elevated levels of unemployment, poverty, and crime within the nation. Despite the clamour for the control or removal of corruption, no one admits or says they are corrupt unless they are caught in the act.
Enofe, Oriaifoh, Akolo, and Oriaifoh (2016) maintained that corruption engenders the misappropriation of scarce public resources, impedes economic advancement, and obstructs the implementation of requisite policy reforms in Nigeria, which are crucial for societal transformation and progress. The issue of underutilization of allocated resources in certain establishments, resulting from corruption, has a negative impact on productivity and resource utilisation. This, in turn, perpetuates a cycle of poverty among Nigerians.
The study conducted by Elijah and Obayelu (2007) aims to examine the impact of corruption and economic progress on individuals through the utilisation of a descriptive survey and content analysis. The present study provides evidence that the implementation of an anti-corruption team or a suite of anti-corruption measures can have a substantial impact on reducing the prevalence of corrupt practises.
CAUSES
TRANSPARENCY
The preservation of democratic government structures is reliant upon the essential components of transparency and public accountability, as posited by Nnamdi (2009). Political leaders in Nigeria exhibit minimal concern for upholding transparency in governance while in public office. The concept of accountability necessitates that individuals holding public office are obligated to provide an account of their official decisions and actions to the general public. In contrast to other regions, the political landscape in Nigeria exhibits a distinct characteristic whereby elected officials do not provide an account of their political actions and decisions, with a notable deficiency in financial accountability (Daily Trust, 2013; Ochulor, Metuonu, & Asuo, 2011).
WEAK ENFORCEMENT ON THE PART OF GOVERNMENTAL CONTROL MECHANISMS
Nigeria’s position on the international corruption index remains unfavourable, as it was ranked 144th out of 180 countries in 2018. Despite the existence of numerous anti-corruption organisations and governmental initiatives aimed at mitigating corruption within the nation, their efficacy has been found to be lacking. It is noteworthy that a considerable number of Nigerians have developed a lack of confidence in certain law enforcement agencies due to a pervasive belief that these agencies are inherently characterised by corruption. In other words, it seems that the government lacks interest in tackling the problem of corruption.
POLITICAL OFFICE AS AN AVENUE FOR WEALTH ACCUMULATION
In Nigeria, the political elites perceive political office as a lucrative avenue for accumulating wealth. As a result, they consider appointment or election to political office as an indispensable achievement (Agwu, 2011). The pursuit of political power can provide a straightforward route to both financial prosperity and social status, leading some politicians to engage in unethical practises such as bribery, politically motivated violence, and manipulation of electoral outcomes. According to Seteolu (2005), individuals occupying political offices tend to allocate material advantages to themselves, their associates, and their kin.
EFFECTS
The prevalence of corruption in Nigeria poses a significant challenge to the effective allocation of resources to their intended destinations. Consequently, funds are diverted from crucial initiatives and schemes aimed at combating poverty and fostering economic development. The act of cheating has a detrimental impact on the local banking system, resulting in a reduction of saved and invested funds. The decrease in the standard of living among individuals and the negative impact on economic growth are evident. Illicit funds are typically either transferred to offshore financial institutions or allocated to foreign enterprises, or they are utilised to procure high-end commodities for personal consumption, or a combination of the aforementioned practises. It is noteworthy that the prevalence of corruption significantly affects individuals’ participation in political affairs. In essence, this results in a state of political disengagement that perpetuates corruption by allowing the same individuals to retain their positions of power. Similarly, corruption gives rise to a culture of disregard due to the lack of responsibility. Consequently, individuals may engage in unlawful behaviour with confidence due to the support of corrupt Godfathers.
RECOMMENDATION
The present study’s analysis demonstrates that corruption exerts a negative impact on economic advancement. The aforementioned phenomenon exerts a noteworthy adverse influence on the economy, impeding or potentially halting its expansion. The present study proposes the following recommendations to effectively tackle the problem of corruption. It is recommended that the government enhance the capacity of anticorruption agencies and ensure their independence from political elites and government influence. This will enable these agencies to carry out their duties without any interference and prevent them from being perceived as instruments of political persecution. It is imperative for the government to exhibit courage in demonstrating good governance, transparency, and accountability in economic matters as a means of instilling confidence in the Nigerian populace regarding the efficacy of the government system. It is imperative for the government to intensify efforts towards the reorientation of society against the adverse impacts of deceit by implementing stringent ethical principles. Consequently, more stringent regulations ought to be enforced to limit the utilisation of public funds for personal objectives.
REFERENCES
Agwu, S. (2011, July 23). Corruption: Bane of good governance in Nigeria. The Sun News. Retrieved 19th April 2023, from https://www.thenigerianvoice.com/news/56728/ corruption-bane-of-good-governance-in-nigeria.html.
Capasso, S., & Santoro, L. (2018). Active and passive corruption: Theory and evidence. European Journal of Political Economy, 52, 103-119.
d’Agostino, G., Dunne, J., & Pieroni, L. (2016). Corruption and growth in Africa. European Journal of Political Economy, 43, 71-88.
Daily Trust. (2013, July 22). Nigerian lawmakers top salaries chart. Daily Trust, Abuja. Retrieved 4th April 2023 from https://allafrica.com/stories/201307221471.html
Enofe, A., Oriaifoh, A., Akolo, I., & Oriaifoh, C. L. (2016). Corruption and Nigeria economic growth. International Journal of Advanced Academic Research Social & Management Sciences, 2(4), 26-35.
Igiebor, G. (2019). Political corruption in Nigeria: Implications for economic development in the fourth republic. Journal of Developing Societies, 35(4), 493-513.
Nnamdi, H. (2009). Nigerian government and politics. Lagos: Trust Pub
Obamuyi, T., & Olayiwola, S. (2019). Corruption and economic growth in India and Nigeria. Journal of Economics and Management, 35(1), 80-105.
Ochulor, C., Metuonu, I., & Asuo, O. (2011). Corruption in contemporary Nigeria: The way out. American Journal of Social and Management Sciences, 2(1), 91–99.
Rotimi, E., Obasaju, Barnabas, Lawal, A and IseOlorunkanmi J. (2013). Analysis of Corruption and Economic Growth in Nigeria. Afro Asian Journal of Social Sciences, 4(4.2).
Salisu, M. (2000). Corruption in Nigeria (Working Paper No. 006). Lancaster: The Department of Economics, Lancaster University Management School.
Seteolu, D. (2005). Historical trajectories of elections in Nigeria: The state, political elite and electoral politics. In Godwin Onu & Abubakar Momoh (Eds.), Elections and democratic consolidation in Nigeria (pp. 34–42). Lagos: Triad Associates
World Bank, 2005. Anticorruption in Transition: A Contribution to the Policy Debate. World Bank Publication. Washington
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