Trends of Corruption, Economic Growth and Political Instability in Nigeria-2002-2018

Abstract

The nascent democracy in Nigeria since inception has faced corruption issues that have been a major political and economic challenge that hinder significantly the growth of the country. The expectation that democracy offers a potential route to dealing with our developmental bottleneck has led to a resurgence of interest in analysing the nexus between corruption, political instability and economic growth. The methodology adopted in the study was the library research method. Tables and charts were used to discuss and analyse the results. This study is an examination of the link between corruption, political instability and  economic growth in Nigeria from 2002-2018 using trend and correlation analysis. The results from both trend and correlation matrix showed that corruption has negative relationship with economic growth and index of political stability. Based on the
stylised fact that emanated from this study, it is, therefore, recommended that there is a critical need to achieve political stability by enhancing the quality of governance through intense institutional reform for better economic outcomes.