Corruption and Poverty Challenges in Nigeria

Julius Idialu Ikharehon and Nosa Omoregie
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Julius Idialu Ikharehon: Department of Business Administration, Faculty of Management Sciences, Ambrose Alli University, Ekpoma, Edo State, Nigeria.
Nosa Omoregie: Department of Accounting, Faculty of Management Sciences, Ambrose Alli University, Ekpoma, Edo State, Nigeria.

Indian Journal of Commerce and Management Studies, 2015, vol. 6, issue 1, 91-97

Abstract: In today’s Nigeria, democracy notwithstanding, corruption and poverty have continued to grow. In fact according to the corruption perception index of the Transparency International, Nigeria has always been a gold or silver winner in the hierarchy of most corrupt countries. The study adopts the elite theory as a theoretical explanation to understand the link between corruption and poverty in Nigeria. The elite theory of poverty posits that the structure of political power in a society determines the extent and distribution of poverty among the population. It is therefore, argued that the scourge of corruption has left the country straddling two economic worlds at the same time. To state the obvious, the country has found itself in the quagmire of a country too rich to be poor and at the same time too poor to be rich. Thus, this has made it inevitable for every Nigerian to be a victim of corruption. It is therefore recommended that a more rigorous competitive political procedure should be put in place so as to ensure that only the best available persons with transformational vision are elected to high political offices and that institution should not be built around individuals.

Keywords: Corruption; Poverty; Transparency International Corruption Perception Index; and Nigeria. (search for similar items in EconPapers)
Date: 2015
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