Corruption Has Eroded Nigeria’s Economic Prosperity -Chatham House Report

The Chatham House has described corruption as endemic in Nigeria having permeated almost all fabrics of socio- economic and political life of the nation.

A recent report by the UK based independent policy institute said corruption has defied different sectoral reformation efforts by various administrations in the past two decades.

The extensive research of Chatham House’s Social Norms and Accountable Governance (SNAG) project was funded by the MacArthur Foundation.

The report said that corrupt practices are deeply rooted in “politics, public administration, law enforcement and the judiciary, often undermining the delivery of basic services”.

The institute was emphatic in declaring that the basis for Nigeria’s economic prosperity has been eroded while
democratic governance and economic growth are constantly being threatened.

Placing Nigeria on global ranking scales, the said the nation consistently ranks among the top quarter of most corrupt countries.

“Nigeria is ranked among the world’s 40 most corrupt countries on the Corruption Perceptions Index and 35th from bottom on the World Bank’s list of countries measured by their control of corruption. It ranks highly on all four metrics of corruption measured by The Unbundled Corruption Index, with ‘grand theft’ by political elites particularly dominant. .

“Within Africa, Nigeria ranks 33rd for overall governance out of 54 countries measured in the Ibrahim Index of African Governance (IIAG), which takes into account various measures including anti-corruption mechanisms and how successful they have been. The IIAG places Nigeria well below the average for both the African continent and the region of West Africa.

“When measured on the ‘Absence of Corruption in State Institutions’ specifically, the IIAG ranked Nigeria fifth from bottom of the 54 African countries measured.

The Chatham House declared that the multifaceted phenomena is so devastating that it is evident in Nigeria’s GDP figures.

“While Nigeria has the fourth largest economy on the African continent by GDP, its GDP per capita – a more accurate measure of prosperity – is among the lowest in Africa,” the report said. No wonder that more than half of all Nigerians, approximately 54 per cent live in poverty.

Corruption continues to be a defining feature of Nigeria’s governance, public administration and political life, hindering its full potential and global standing. At its core, corruption diverts public resources away from vital sectors such as education, healthcare and infrastructure, fuelling poverty and inequality.

“Beyond the economic wellbeing of Nigeria, corruption has weakened the rule of law and undermines the public’s trust in critical institutions to deliver justice and protect peoples’ lives and basic rights. Such an erosion of trust fosters a culture of impunity, where many individuals believe rightly or wrongly that corruption is the reality of life in Nigeria and that many engage in corrupt practices without facing consequences.

“This sense of the corruption being intractable has fuelled the frustrations of some marginalized groups and the sense of hopelessness among some of Nigeria’s youth. These grievances, in turn, drive emigration, protests, political violence and even fuel extremist insurgencies,” the report added.