Repositioning Democratic Governance in Nigeria: Implications on National Economy

Okoye et al.; AJEBA, 8(3): 1-20, 2018; Article no.AJEBA.44731

20 Pages Posted: 24 Nov 2018

See all articles by Emmanuel Ikechukwu Okoye

Emmanuel Ikechukwu Okoye

Nnamdi Azikiwe University - Department of Accountancy

Dr. Ugochukwu Nwoye

Nnamdi Azikiwe University - Department of Accountancy, Students

Ekesiobi Chukwunonso

Anambra State University

Justina Obiorah

Federal Polytechnic Oko

Date Written: October 27, 2018

Abstract

The value system of Nigeria’s democratic process since 1999 may have been undermined by the absence of good governance in the country’s leadership stream. And despite the craze for unprecedented development in the country even as it dreams of becoming the 20th best economy in the world by the year 2020, Nigeria leadership attitude to accountability, transparency and outright respect for the rule of law may after all remain a major challenge to overcome in the 21st century. The study adopts empirical process by means of charts towards evaluating the quality of governance Nigeria may have witnessed in the post 1999 democratic regimes of Nigeria with emphasis on the annual GDP growth rate statistics, annual GDP achieved (in US$), unemployment rates as co-published by the International Monetary Fund, annual national Budget of Nigeria as published by the World Bank Group and the country’s corruption perception index as rated by Transparency International (TI) for the years 1999 – 2016. These were all employed by the study for graphical evaluation and assessment purpose using charts. Indicative pointers from the charts shows that though the country’s annual budget has continued to rise since 1999, the country’s employment sector has not really benefited from this acclaimed shoot up given the recent upward movement of the country’s unemployment rate and the consequent downward pace in the rate at which the economy of Nigeria is growing in recent times.

Further pointers noted from the corruption perception index chart indicate that the quality of the governance obtainable in the country is a far cry from what good governance really entails. The study however proffered some sensitive policy framework and reliable approaches to these notable challenges currently engulfing the country.

Keywords: Accountability, Annual Budget, Corruption, Corruption Perception Index, GDP Growth Rate, GDP Value, Governance, Transparency

JEL Classification: H11, H61

Suggested Citation

Okoye, Emmanuel Ikechukwu and Nwoye, Dr. Ugochukwu and Chukwunonso, Ekesiobi and Obiorah, Justina, Repositioning Democratic Governance in Nigeria: Implications on National Economy (October 27, 2018). Okoye et al.; AJEBA, 8(3): 1-20, 2018; Article no.AJEBA.44731. Available at SSRN: https://ssrn.com/abstract=3275359

Emmanuel Ikechukwu Okoye (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Dr. Ugochukwu Nwoye

Nnamdi Azikiwe University - Department of Accountancy, Students ( email )

PMB 5025, Awka, Anambra State.
Awka
Nigeria
07032132659 (Phone)

Ekesiobi Chukwunonso

Anambra State University ( email )

Uli
Nigeria

Justina Obiorah

Federal Polytechnic Oko ( email )

PMB 021 Aguata
Anambra +234
Nigeria

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