Corruption Impact on Private Sector Performance in Nigeria: An Empirical Study (1999-2018)

Tonye Richard Apiri and Keneke P. Onduka
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Tonye Richard Apiri: Banking & Finance Department, Faculty of Management Sciences, Niger Delta University Wilberforce Island, Bayelsa State, Nigeria
Keneke P. Onduka: Banking & Finance Department, Faculty of Management Sciences, Niger Delta University Wilberforce Island, Bayelsa State, Nigeria

International Journal of Research and Scientific Innovation, 2020, vol. 7, issue 5, 83-96

Abstract: Corruption has long co-existed with human race. It is as old as reality and remains one of most endless socio economic vice globally both in developed and developing economies with devastating consequences. This notion has attracted scholars from different discipline to examine the subject with mixed ends. This paper tends to bridge an identified gap in existing literature by employing an econometric approach for empirical findings of the studied subject (corruption impact on private sector performance in Nigeria). The study findings reveal as evidenced from the outcome of the error correction mechanism (ECM) that: Corruption has a linear and significant impact on private sector performance in Nigeria for the period under study. Hence, the paper recommends an enlightenment programmes to be jointly design by the arms of Government (Executive, Legislative and Judiciary) in respect to conceived patterns and believes about corruption as to discourage its excessive abuse, and most importantly anchoring it on the habit of desisting from extreme wealth acquisition and the culture of get rich quick syndrome for all. The paper further recommends that, the phenomenon “corruption†should be ascribed with embedded economic benefits rather than individual self-enthroned enrichment.

Date: 2020
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