Study on Economics of Corruption; Implications for Economic Disruptions and Agricultural Inefficiency in Nigeria

Corruption is a socio-economic phenomenon that has infiltrated the Nigerian economy, negatively affecting various sectors of the economy, most notably the agricultural sector, which has been rendered comatose; thus, a study on the economics of corruption; implications for economic disruptions and agricultural inefficiency in Nigeria was reviewed. Poverty, greed, self-interest, insatiable needs, covetousness, and the desire for power are all factors that contribute to corruption in Nigeria. Its economic indexes included income disparity, bureaucracy, job insecurity, excessive societal values, and so on. Corruption has a variety of economic consequences in Nigeria, including slowed economic growth, higher investment costs, lower GDP, effects on employment, and balance of payment effects, among others. Eradicating corruption in Nigeria necessitates serious considerations and implementation of measures such as raising the cost of corruption, eliminating corruption incentives, meeting basic requirements, and ensuring job security, among others. Nigerian corruption will be a thing of the past.

Author(S) Details

E. E. Osuji
Department of Agriculture, Alex-Ekwueme Federal University Ndufu Alike Abakaliki, Nigeria.

A. C. Tim-Ashama
Department of Agricultural Science, Alvan Ikoku Federal College of Education Owerri, Imo State, Nigeria.

C. C. Ibekwe
Department of Agricultural Economics, Federal University of Technology Owerri, Imo State, Nigeria.

J. N. Obi
Department of Agriculture, Alex-Ekwueme Federal University Ndufu Alike Abakaliki, Nigeria.

E. U. Eze
Department of Agricultural Technology, Federal Polytechnic Nekede Owerri, Imo State, Nigeria.

U. A. Essien
Department of Agricultural Economics, Federal University of Technology Owerri, Imo State, Nigeria.

C. L. Njoku
Department of Agriculture, Alex-Ekwueme Federal University Ndufu Alike Abakaliki, Nigeria.

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