THE IMPACT AND CONSEQUENCES OF CORRUPTION ON SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA
Abstract
ABSTRACT
Corruption has become a major impediment to sustainable economic development in Nigeria. It has penetrated deeply into the political, social, and economic fabric of the nation, leading to poor governance, loss of public trust, and slow economic progress. This study examines the impact and consequences of corruption on Nigeria’s sustainable economic development. Data for the research were obtained from secondary sources, including journals, reports, and government publications. The study reveals that corruption contributes to poverty, unemployment, poor infrastructure, low foreign investment, and misallocation of national resources. It also weakens public institutions and hinders effective policy implementation, thereby preventing the attainment of sustainable development goals. The research concludes that unless corruption is effectively addressed through strong political will, institutional reforms, transparency, and strict enforcement of anti-corruption laws, Nigeria’s quest for sustainable economic development will remain elusive.
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