Corruption an Enemy to Economic Development in Nigeria

Abstract

The issue of corruption has raised a lot of concern as it continues to plague the nation. This paper examines the relationship between corruption and economic development using secondary sources of data from 1980-2011. The social development model was employed using multiple linear regression analysis to determine if a relationship indeed exists between corruption and economic development. The result gave an R2 value of 0.848 indicating that a significant relationship between corruption and economic development exists, thus the null hypothesis; Ho was rejected. The paper recommends amongst others that government should be sincere and transparent in their activities; sudden wealth by individuals be investigated and love of country should be embraced by all.

Keywords: Corruption, Economic Development, Transparency, Governance, Nigeria