13/10/2019
CORRUPTION AND ECONOMIC MISMANAGEMENT IN
NIGERIA.
BY: EYONG BASSEY OBONO
THE MARXISTS SCHOLARS ACADEMY
FOUNDER & LEADER
There would be no development, freedom, growth and
peace in a country when there is a high level of
corruption and economic imbalance. Economic
mismanagement is the collapse and downfall of every
organization, be it religious, social, economical and
political, and this economic mismanagement leads to
stagflation, and corruption is the shortest road to
disunity and underdevelopment.
However, the great hope and expectations that greeted
the return to civil rule in (May- 1999), may not be
unconnected with the desire for an inproved economy
which in turn will guarantee a change in the quality of
live of the populace. Nigeria as a nation state with her
resources and population has been in an unpredictable
quagmire since the long military rule, and her attendant
poverty, hardship and an unprecedented level of
corruption have brought Nigeria to a hopeless and
helpless situation such that the mistake of Gen.
Abdusalami Abubakar transition programme to Civil Rule
were never sources of concern by a Staunch and Prolific
Marxist like me, and the society alike.
No doubt, Nigeria is potentially African largest economy.
Every year, the country produce over 200,000 graduates
of tertiary institutions, including more than 116 Public
and private Universities, has the 6th largest gas
reserves in the world, but lacking security, unity, good
governance, sincerity, love and progress, because I have
meticulously observed that the people's expectations of
a better hope and opportunities have long been dashed
on the ground even before the expiration of the second
term in office of President Olusegun Obasanjo.
Nigerian Politicians are pursuing power in their own
interest, knowing their inability in leadership and
administration, but pretending and denying to accept
their weakness and their corruptible existence on the sit
of governance.
The corruption of Nigerian leaders and politicians in the
control and management of the economy has caused an
alarming increase in the number of wretched and poor
people over the years at an estimated figure of 70
million, in 1980, 28.1 million in 1985, 46.3 million, in
1992, 42.7 million in 1996, and 70 million, in 2004.
Nigeria must go back to the books of our founding
Fathers who conquered the fight and powers of
colonialism and imperialism, which few persons are
benefiting today, before there must be stability, peace,
progress, growth and development, because poverty has
translated into social misdemeanors and high crime rate
by both graduate and unemployed youths.
This act, more than anything else threatened the
survival of democracy in Nigeria.
