Abstract
The study aims at examining closely the effects of corruption on Nigerian economy. This is informed by the general belief that the menace of corruption has disastrous consequences not only on the economy but on all sectors of human endeavor. A number of related works were intensively reviewed and both the secondary data and primary data from secondary source were used It was however discovered that corruption has significant effects on the Nigerian economy. In effect, corruption slows growth, leads to inefficient investments in public projects, and slows down foreign investments. Hence, it was recommended that government should ensure that the civil servants are honest and trustworthy and virtues should be inculcated in people. Any discovered case of corruption should be exposed without minding the position of the culprit and be brought to book. This will serve as deterrent to others. Importantly, government should provide adequate pay package for public servant and their remuneration should be competitive with that of the private sector.
Keywords
Competitive remunerations, Economics, Foreign investments, Vigilant outlook
DOI
https://doi.org/10.54784/1990-6587.1247
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Recommended Citation
Maiyaki, A. A. (2010). The effects of corruption on the Nigerian economy. Business Review, 5(2), 111-126. Retrieved from https://doi.org/10.54784/1990-6587.1247
