Go Back

Journal VOL. 4 NO. 1, June. 2025, ISSN: 2714 - 4054

 

A Historical Analysis of the Bane of Corruption on Nigeria’s Socio-Economic Development, 1960-2015.

Falowo Ajagun Segun, Borisade Michael Olaiya

 

ABSTRACT

Undoubtedly, corruption remains a major aberrant that has taken several dimensions since Nigeria gained her political independence in 1960. Although, corruption is not a new phenomenon, its dimension especially since the birth of the Fourth Republic has become worrisome. It has become a major cankerworm that has eaten deep into the fabric of Nigerian society. Its manifestations include diversion and misappropriation of funds, mismanagement and outright embezzlement of fund, inflation of contracts, money laundry and so on. Extant literature on corruption has neglected the bane of it and has focused on assessing the factors for corruption and efforts at combating it in Nigeria. This paper seeks to analyse the bane of corruption on Nigeria’s socioeconomic development from independence to 2015. The paper examines the concept of corruption from different perspectives, history of corruption in Nigeria, causes and effects of corruption on the socio-economic development of Nigeria and the efforts at combating the evil menace in Nigeria. It concludes that there can never be a meaningful socio-economic development in a highly corrupt society. Therefore, the paper submits that punitive punishment should not only be meted on corrupt people in order to serve as deterrent to others, but also the anti-graft agencies should be strengthened and empowered by the law to prosecute corrupt people. The methodological approach adopted in this work is historical, thematic, and analytical. Source comprises primary and secondary materials, oral interviews, newspapers and extant literature.

Keyword: Corruption, Socio- Economic Development, Democratic Dispensation, Nigeria.

 

Download the full text uploaded