Corruption: Threat to democracy and market economy in Nigeria

Abstract

In the research on ‘Corruption: Threat to Democracy and Market Economy’, the researchers critically explore the issue of corruption and how it threatens the democracy and market economy in Nigeria. Relevant literature was revised, which formed the secondary data. The theoretical framework of the study is political economy theory. The finding revealed that Nigeria has been bedeviled with weak economy and political governance, the major cause of which is corruption that has resulted in high levels of poverty in the land especially and predominantly among the low class citizens. In view of the above, the major recommendation among others is to reinforce and re-invigorate traditional and cultural values that encourage good behavior in private and public life. This needs to be done as a matter of urgency in order to “sweep out” corruption in the country, knowing full well that cankerworm or menace called corruption is a threat to the democracy and market economy of Nigeria.

Keywords: Corruption, public sector, governance, development