Elite greed and political instability: an analysis of social and economic consequences – a focus on Imo State, Nigeria

Abstract

This work adopted critical phenomenology as its methodology. This allows for the use of both primary and secondary sources of data. While the primary sources are eyewitness accounts, oral interviews, diaries, and archival materials, the secondary sources are written documentaries, books, the internet, newspapers, magazines, and journals. The interdisciplinary appeal of this method makes it a useful method. This paperattempted to answer the broad question – what are the consequences of social, political, and economic
 inequality and elite greed on Nigerian society? This question is necessary as it helps in understanding the part played by elitism, greed, and inequality in Nigeria's political and social instability. The paper establishesgreed as a political psychology construct,  weaponized by the elites for sustaining political relevance and control. The literature further established that elitist greed, capitalism, selfishness, and instability are linked and exacerbate inequality and political instability in West Africa and Nigeria in particular. This work contributes to the growing discussions on the part elite greed plays in fueling political instability with its attendant socio-economic consequences in Nigeria.