The Effect of Corruption on Economic Growth in Nigeria

Previous empirical studies have appraised efforts of the government in fighting corruption in Nigeria. In spite of this, corruption has been identified as one of the hindering factors for attaining the desirable economic growth. This study therefore examines the effect of corruption on economic growth in Nigeria between 1987 and 2017 using secondary time series data sourced from the Transparency International, Central Bank of Nigeria (CBN) Statistical Bulletin and World Development Indicators (WDI). Data were analysed using Ordinary Least Squares (OLS) techniques and Barro model. The result shows a negative significant relationship between corruption and economic growth and recommends that the government should strengthen the anti-corruption agencies in order to comprehensively fight corruption in Nigeria.