EFFECT OF CORRUPTION ON THE ECONOMY:
A CASE STUDY OF EGOR LOCAL GOVERNMENT AREA EDO STATE
The study investigated into the effect of corruption on the economy: a case study of Egor Local Government Area of Edo State. The research instrument used included questionnaire and interviews. Some research questions postulated included the following; what are the means put in place to curb corruption in the study area? What are the effects of corruption in Nigeria? What are the identified factors that breed corruption in the geopolitics of Nigeria? A total of one hundred respondents were used. The simple percentage tabulation method was used for the data analysis. Some recommendations were preferred to alleviate the identified problems.
TABLE OF CONTENT
Statement of problem
Purpose of the study
Significance of study
Scope of study
Limitation of study
Population of study
Method of data analysis
Presentations and analysis of data
Summary Concision and Recommendation
Suggestion for further research
Corruption in Nigeria political system in Egor Local Government Area is a menace to the people and the country at large. Besides, Nigeria has other factors that have battered her political system. These are no other things than the war against indiscipline, political crisis, and economic and financial crimes commission (EFCC) have been employed and adopted by past regime and administrations to curb the evil practices, but all proved abortive, while the economic recession is on the increase. How long should this continue?
According to a statement in the Daily Times (1999), “decades after decades, children are born to see and learn of this enemy of development, why should we allow this to continue? We need to join hands on this criminal behaviours in other to protect present and future generations of our great country. Corruption has really been the bane of this country. All hands must be on deck. Osisioma (1999) Nigeria was grouped as the second position and the sixth position of the world most corrupt countries. The sequence of the position above shows little improvement which is not significant for stopping the worry of patriotic Nigerians on the matter. The Instinet for corruption normally begins with ungratefulness and greediness. As stated by Malick (1994) the origin of corruption is that it is influenced by the quest for more material wealth.
According to Bureau for Public Procurement (BPP 2008) Nigeria losses sixty kobo to underhand practices out of every one naira (100 kobo) spent by government. The wealth of this nation is being looked by few privileged individuals known as civil servant and politicians who are busy acquiring their ill gotten wealth by inflating contracts, diverting public assets into personal economy in different ways. According to Akara (2012) corruption in all its ramifications in any society is the symptom of the moral indiscipline and moral decadent that can only be arrested and the society regenerated, if an only the society itself becomes aware and conscious of its dangerous descent into the abyss of self-extension. Corruption in Egor Local Government Area has really affected the public sector and has spilled to other sectors of the economy such as private sectors businesses and households in view of the yearly reports of the Nigeria deposit insurance corruption (NDIC) and the various white papers issued in Egor Local Government , Nigeria year in year out, many people are initiated into different forms of these sharp practices.
A recent revelation made by the Egor Local Government Commission of ensuring enquiring into financial activities of government between 1999-2007, the state board of internal revenue generated about twenty four billion naira (approximately 210 million) but less than 25% of revenue was accounted for and more than 75% of the revenue in allegedly embezzled. The issue of corruption in the public sector is perpetrated in a syndicate where both civil servant and political appointees are involved. A study on why corruption flourishes in the public sector might be expected to provide a useful insight into the strategies to be adopted to minimize this evil. It is also expected that the goals is due to an array of problems. Of these problems, the fabrics of our economy and the need to manage it. Existing government will learn from the experiences of past leaders who have failed in their efforts to curb the menace of this underhand practices by govern leap services, for implementation of measures. The country has put in place to help in reducing the cases and magnitude of corruption in the public sector and political system and indeed the country as a whole.
Though the public sector is the machinery of government in achieving meaningful development in the area of infrastructures, education, health etc the failure to achieve any of these developmental scourge is very important for need immediate attention. The efforts of the independent corruption practices commission (ICPC) and the economic and financial crimes commission (EFCC) have done little in curbing this monster as cases and magnitudes of corruption is still significant compared to the poverty level in their country especially those in Egor Local Government Area.
According to 2006 NDCC annual report (2008) billions of naira are lost to fraudsters and other dubious people annually. In the survey conducted between 1999-2000 by PAR an average of ten billion dollars is lost to corruption (BPP, 2008). This cannot be allowed to continue never the magnitude of this problem and its implications for corruption in Nigeria political system have inspired the writing of this paper with a view to have all hands on deck in fighting this evil in Nigeria.
The purpose of the study includes the following;
This paper is relevant to what the Obasanjo government started which the late president Yaradua administration also tried to sustain on their efforts to wipe out all forms of corruption in Nigeria, the setting up of the anti-corruption act 2000, anti-money laundry act 2004 and the economic and financial crimes commission (EFCC, 2004) are all proofs that the Nigeria government is really fighting corruption, and requires supports from all patriotic Nigerians to join hands against this evil that is pervading the society.
In the light of the foregoing the following questions maybe asked;
These questions form the problem that prompted the writing of this paper and the need to provide workable answers to them.
This study will be of great importance to the curbing of corruption in Nigeria political system in Egor Local Government Area. The study will contribute immensely to the exploration of the problem that had led to the backwardness of development in Egor Local Government Area and to proffer possible solutions to the problem identified.
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