Corruption Distorts Economic And Social Developments In Nigeria.
Corruption also reduces economic growth, enhances inequalities and reduces the government’s capacity to respond to people’s needs. All these swerve down to create poverty in the society‟. Corruption distorts economic and social developments, by engendering wrong choices and by encouraging competition in bribery rather than in the quality and price of goods and services and, all too often, it means that the world’s poorest must pay for the corruption of their own officials and of multinationals‟ agents. Corruption leads to a grooving gap between the rich and the poor and deepens poverty by enriching a few at the expense of fellow citizens. Under a corrupt system, there is a concentration of wealth in the hands of a tiny minority of the population. Resultantly income distribution becomes highly skewed. The political bureau in its report mentioned such causes as excessive materialism generated by our individual capitalist order which emphasize personal wealth without regard to the collective interest and welfare of the larger society. Other causes of poverty, illiteracy, get-rich- mania, statism, and wrong attitude to public property, absence of a welfare scheme which cushions effect of unemployment, retirement, large families, and quest for power, double standards and low level of patriotism. These are important in themselves; it does appear that poverty is the most important single factor that promotes the wide spread of giving and taking bribes i.e. illegal financial inducements in the country. As regards features of corruption, the most common are:
a) Giving and receiving bribes
b) Inflation of contracts
c) Kick back and payment upfront
d) Abuse of public property
e) Lodging government fund in private accounts
f) Examination malpractices
g) Adulterated food or hazardous drugs
h) Misappropriation and embezzlement of fund
i) Money laundry by public officers
j) Using proxy names to buy property.
We’ve a duty to rise at this definite time to rescue our Nation from the clinches of corruption.
So Help Us God!!!