An Analysis of the Impact of Corruption and Development in Nigeria
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Abstract
Irrespective of the abundant natural and human resources, Nigeria being the most populous country in Africa continent is regarded as the most corrupt and seriously appalling developmental performance record.
Corruption and development are interrelated for the simple fact that one give rise the other, hence, corruption is defined as any form of abuse of public office for private gain which in turn has a tantamount negative economic and social trickle down effect on the whole society.
Some perspectives are of the notion that developing societies and their people are inherently more corrupt than developed ones, yet the argument is that sometimes lack of development opportunities automatically encourages corruption. The this view, economic growth and development create social opportunities that are of potential benefits to the people so that they tend to engage in honest activity to sustain themselves. The specific reward for entrepreneurship and productive rise in relation to rent seeking investment when there is sustain growth can have a positive impact on the society.
In contrast, the despair caused by inequality and pervasive poverty may encourage people to break the rules of honesty and decency. People access to or shortage of resources often develop a self perpetuating momentum so that the well-endowed get more and the poor get even less.
In the light of the above, this paper will also discuss critical issues like impact of corruption on development, theoretical assumption about corruption and development, and how corruption affect development.
Corruption and development are interrelated for the simple fact that one give rise the other, hence, corruption is defined as any form of abuse of public office for private gain which in turn has a tantamount negative economic and social trickle down effect on the whole society.
Some perspectives are of the notion that developing societies and their people are inherently more corrupt than developed ones, yet the argument is that sometimes lack of development opportunities automatically encourages corruption. The this view, economic growth and development create social opportunities that are of potential benefits to the people so that they tend to engage in honest activity to sustain themselves. The specific reward for entrepreneurship and productive rise in relation to rent seeking investment when there is sustain growth can have a positive impact on the society.
In contrast, the despair caused by inequality and pervasive poverty may encourage people to break the rules of honesty and decency. People access to or shortage of resources often develop a self perpetuating momentum so that the well-endowed get more and the poor get even less.
In the light of the above, this paper will also discuss critical issues like impact of corruption on development, theoretical assumption about corruption and development, and how corruption affect development.