Международный журнал экономики и менеджмента

The Impact of Corruption on Economic Growth and Cultural Values in Nigeria: A Need for Value Re-orientation

Abstract

Jorji A Nwogu and Victor Ushahemba Ijirshar

Corruption in Nigeria has deeply entrenched/ingrained in the national ethics, politics, civil society, public and private sectors and has been deeply permeated by a pervasive and debilitating culture so much that it is best regarded as been institutionalized, until the recent fight against it. The longtime reign of corruption in the country has impacted negatively on economic growth and has decayed or deteriorated our cultural values in the state. This study examined the impact of corruption on economic growth and cultural values in Nigeria situating the need for value re-orientation. The negative impact of corruption on economic growth and the decaying standard of Nigerian cultural values have necessitated the need for value re-orientation in order to bring redemption to the country’s national character and image. The study recommends the effective use of anti-corruption agencies. In the same vein, there should be re-orientation process in the education system of the country while the government should adequately fund the system.